Intermediate Quiz # 2

Intermediate Quiz # 2 - 798.90 414.83 12/31/2019 5,600...

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4) A PV-OA=R(PVF-OAn,i) PV-OA=5600(PVF-OA10,8%) PV-OA=4200(6.71008) 37,576.45 Notes Payable 56,000.00 Less:Carrying Value 37,576.45 Discount On N/P 18,423.55 Purchase of Machine Date Description and Account Debit Credit 1/1/2010 Machine 37576.45 Discount on N/P 18423.55 Notes Payable 56,000 B Amortization Table Date Payment on N/P Interest Expense Discount Balance 1/1/2010 18,423.55 12/31/2010 5,600 3006.12 15,417.43 12/31/2011 5,600 2798.61 12,618.83 12/31/2012 5,600 2574.49 10,044.34 12/31/2013 5,600 2332.45 7,711.88 12/31/2014 5,600 2071.05 5,640.83 12/31/2015 5,600 1788.73 3,852.10 12/31/2016 5,600 1483.83 2,368.27 12/31/2017 5,600 1154.54 1,213.73 12/31/2018 5,600
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Unformatted text preview: 798.90 414.83 12/31/2019 5,600 414.81 0.01 C First And Last Installment Payments Date Description and Account Debit Credit 12/31/2010 Notes Payable 5600.00 Cash 5600 Interest Expense 3006.12 Discount on Bonds Payable 3006.12 12/31/2019 Notes Payable 5600.00 Cash 5600 Interest Expense 414.81 Discount on Bonds Payable 414.81 Principal Balance Notes Payable 37,576.45 56,000.00 34,982.57 50,400.00 32,181.17 44,800.00 29,155.66 39,200.00 25,888.12 33,600.00 22,359.17 28,000.00 18,547.90 22,400.00 14,431.73 16,800.00 9,986.27 11,200.00 5,185.17 5,600.00-0.01 0.00...
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This note was uploaded on 05/06/2010 for the course BUAD Buad 381 taught by Professor Proctor during the Spring '10 term at Morgan.

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Intermediate Quiz # 2 - 798.90 414.83 12/31/2019 5,600...

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