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Please answer these questions . Parker & Washington, Inc. borrows $100,000 on January 1, 2018. They must pay back the loan, with 7% interest, on
Please answer these questions
. Parker & Washington, Inc. borrows $100,000 on January 1, 2018. They must pay back the loan, with 7% interest, on January 1, 2019. Parker & Washington provides financial reports quarterly on March 31, June 30, September 30, and December 31. For journal entries use the following abbreviations: CASH = cash, INTEXP = interest expense, INTINC interest income, INTPAY = interest payable, INTREV = interest receivable, LOAN = loan payable. For part d, enter the multiple debit accounts in alphabetical order. Prepare the journal entry for January 1, 2018. Debit: Credit: Prepare the journal entry for March 31, 2018. Debit: Credit: Prepare the journal entry for December 31, 2018. Debit: Credit: Prepare the journal entry for January 1, 2019. Debit: Debit: Credit: How much total interest expense was recognized in 2018? . . Rigg, Inc. has 50,000 common shares issued and outstanding. The company's common stock account has a balance of $25,000 and the additional paid-in capital account has a value of $975,000. Enter your answers in dollars and cents but without a $ (E.g., 4.25). Hint for answering these questions: recreate the journal entry Rigg would have recorded upon issuing the common shares. Divide aggregate amounts by the number of shares issued. What is the par value of Rigg's common stock? At what price, on average, were the shares issued Step by Step Solution
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