(SO 1) Ginter Co. holds Kolar Inc/s $10,000, 120-day, 9% note. The entry made by Ginter Co....

Question:

(SO 1) Ginter Co. holds Kolar Inc/s $10,000, 120-day, 9% note.

The entry made by Ginter Co. when the note is collected.

assuming no interest has been previously accrued, is:

image text in transcribed

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

See More Books

Question Posted: Jun 10, 2024 01:14 AM

See More Questions

OBLIGATIONS AND CONTRACTS (Arts. 1169-1178, Civil Code of the Philippines) Questions: 1. B and C entered into a contract wherein B would deliver to C 10 cases of softdrinks on March 30, 2022. B...
Ginter Ltd. holds Kolar Co.s NT$10,000, 120-day, 9% note (amounts in thousands). The entry made by Ginter when the note is collected, assuming no interest has been previously accrued, is: a. Cash...
Ginter Co. holds Kolar Inc.s $10,000, 120-day, 9% note. The entry made by Ginter Co. when the note is collected, assuming no interest has been previously accrued, is: (a) Cash Notes Receivable (b)...
Selected information from Indigo Books & Music Inc.'s income statements for three recent years follows (dollars in thousands): Instructions (a) Calculate gross profit, and profit from operations, for...
The motor in Figure lifts the mass mL by winding up the cable with a force FA. The center of pulley B is fixed. The pulley inertias are IB and Ic. Pulley C has a mass mC. Derive the equation of...
Find the inverse of each matrix in Problem if it exists. 1 1 0 -1 0 1 1 -1 2.
Why has container shipping been such a revolutionary and resilient phenomenon? LO.1
Annual revenue for Corning Supplies grew by 5.5% in 2007; 1.1% in 2008; 3.5% in 2009; 1.1% in 2010; and 1.8% in 2011. What is the mean growth annual rate over this period?
occurs when decision makers choose to continue an existing course of action because it is the less painful option at the time O The self-justification effect O The self-enhancement effect O The...
(Appendix) What is the difference between an account receivable and a note receivable?
(SO 1)Foti Co. accepts a $1.000, 3-month. 12% promissory note (SO in settlement of an account with Ba a. Notes Receivable 1.030 Accounts Receivable 1,030 b. Notes Receivable 1.000 Accounts Receivable...
Refer to the T-note and T-bond quotes in Table. a. What is the asking price on the 2.750 percent November 2042 T-bond if the face value of the bond is $ 10,000? b. What is the bid price on the 3.125...
Thomson Company's income statement for the year ended December 31, 20X4, reported net income of $360,000. The financial statements also disclosed the following information: Depreciation $60,000...
Based on past experience, Maas Corporation (a U.S.-based company) expects to purchase raw materials from a foreign supplier at a cost of 1,800,000 francs on March 15, 2024. To hedge this forecasted...
Suppose that laws are passed banning labor unions and that resulting lower labor costs are passed along to consumers in the form of lower prices. Assume that the U.S. economy was in long-run...
What's wrong with the following statement? "Because the digits 0, 1, 2,....9 are the normal results from lottery drawings, such randomly selected numbers have a normal distribution." Choose the...
Matching Question Drag and drop various responsibilities of employers that are related to workplace values against the corresponding values. Drag and drop application. Justice Justice drop zone...
Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for materials,...
Find the radius of convergence in two ways: (a) Directly by the CauchyHadamard formula in Sec. 15.2. (b) From a series of simpler terms by using Theorem 3 or Theorem 4.
If John invested $20,000 in a stock paying annual qualifying dividends equal to 4% of his investment, what would the value of his investment be 5 years from now? Assume Johns marginal ordinary tax...
help asap please!
Please, help asap! I have one day. Feedback will be given. & show some work. [in Excel] For the final project you will need you to create a spreadsheet /proforma of the cash flows from a property....

(SO 1) Ginter Co. holds Kolar Inc/s $10,000, 120-day, 9% note. The entry made by Ginter Co....

Question:

a. Cash Notes Receivable b. Cash 10.300 10,300 Notes Receivable |10,000 10,000

Step by Step Answer:

Financial Accounting Text Only

Students also viewed these Business questions