On January 1, 20x1, Lala Bus Co received a 4 year, noninterest bearing note of P1,000,000 in exchange for land with carrying amount of P500,000 The note is due on December 31, 20x4 The effective interest rate is 14 Requirements a Prepare the amortization table b Provide all the necessary journal e...

The Answer is in the image, click to view ...

On January 1, 20x1, Lala Bus Co. received a 4-year, noninterest bearing note of P1,000,000 in...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Advanced Financial Accounting

ISBN: 978-0078025624

10th edition

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

See More Books

Posted Date: Jul 08, 2023 08:01 AM

See More Questions

Good Harvest Corporation was incorporated on January 1, 2021, with authorized share capital of 300,000 shares at P20 par value. Record the transactions completed during the months of January and...
The comparative balance sheets for Strackman Lux Company as of December 31 are presented below. Additional information: 1. Operating expenses include depreciation expense of $40,000. 2. Land was sold...
On October 3, 2014, Allarco Inc. issued 4,000 of its preferred shares for cash of $15 each. On November 19 the company issued 3,400 preferred shares in exchange for land with a fair market value of...
"A 10% uniaxial tensile strain has been applied to a mouse tail tendon fascicle. Using Davis and De Vita's nonlinear viscoelastic model, plot the change in axial stress over time. Given: c1=20.3 MPa;...
You have just finished preparing the management accounting report below for your division. You are very pleased with the performance of your division and show the report to your division president,...
(a) Calculate the number of moles in 14.3 g C 6 H 6 . (b) Calculate the mass of 0.0535 mol SiH 4 . (c) Calculate the number of molecules in 1.11 g H 2 O.
It would be helpful to me if I could start by asking you to basically tell me about your job. Okay?
The management of Opry Company, a wholesale distributor of suntan products, is considering the purchase of a $25,000 machine that would reduce operating costs in its warehouse by $4,000 per year. At...
Create an interface, Stock derivatives, with two attributes viz., delta=0.5 and vega=0.2 which are used to determine option premium of a stock. Also add an abstract method Find Premium. Write a class...
James Davis owns a small Internet service provider business. Recently, customers have been complaining that they are overcharged and are not receiving timely customer service. Billing rates seem to...
How 5S improves quality, reduce cost in services systems and manufacturing settings? How 5S Safe contributes in creating working environment; How 5S and Visual work place contributes each other. 2....
USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35 40 Annual Income Statements 2017 2018 Sales 525,800 559,700 COGS ???? 149,600 Gross profit 381,000 410,100 Oper. exp 236,100 250,100 Depreciation 15,000...
2. Two charges, A and B, are separated as shown. a) b) d) A Force on A -2Q Which pair of vectors correctly describes the relative magnitude and the direction of the forces that these charges exert on...
Suppose that a consumer's utility function is U, where x and y are goods and z is a bad (e.g. pollution, so that more pollution decreases utility of the consumer). If consumption of x and z is...
You can invest 3,000 today and will receive 9,000 in ten years. You would be earning what annual rate of interest if compound interest is paid yearly?
What are the key economic problems in the 1970s? How did the Nixon presidency alter the trajectory of the office? 500 words
Your client, SmartClean, Inc., is a cleaning service for office and industrial locations. SmartClean has been in business for 5 years and has shown steady revenue growth each year. The owner...
The financial statements of Eastern Platinum Limited (Eastplats) are presented in Appendix A at the end of this textbook. Instructions (a) Does East plats report any investments on its statement of...
Springdale Corporation holds 75 percent of the voting shares of Holiday Services Company. During 20X7, Springdale sold inventory costing $60,000 to Holiday Services for $90,000, and Holiday Services...
This problem is a continuation of P5-35. Mortar Corporation acquired 80 percent ownership of Granite Company on January 1, 20X7, for $173,000. At that date, the fair value of the noncontrolling...
On December 31, 20X7, Prime Company recorded the following entry on its books to adjust its investment in Lane Company from the fully adjusted equity method to the modified equity method: Required a....
A diffraction grating is a closely spaced array of apertures or obstacles forming a series of closely spaced slits. The simplest type in which an incoming wave front meets alternating opaque and...
Find the position of the first minimum for a single slit of width 0.04 $\mathrm{mm}$ on a screen of $2 \mathrm{~m}$ distance, when light from a He-Ne laser $\lambda=$ 6328 is shone on the slit.
A GaAs p-n junction has a $100 \mu \mathrm{m} \times 100 \mathrm{~m}$ cross section and a width of the depletion layer $W=440 \mathrm{~nm}$. Consider the junction in thermal equilibrium without...

On January 1, 20x1, Lala Bus Co. received a 4-year, noninterest bearing note of P1,000,000 in...

Question:

Expert Answer:

Advanced Financial Accounting

Students also viewed these accounting questions