Notes payable payments journal entry will enter the journal entry for making a payment on an installment note using an amortization table. We will enter the transaction in the general journal, post it to the general ledger, and see the effect on the trial balance. To record a financial transaction for the payment of an… Continue reading Notes Payable Payments Journal Entry – Payment on Installment Note Using Amortization
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Partnership Comp Prob Revenue for Cash – 110 Journal Entry to Record Cash Received for Work Done
Partnership comprehensive problem journal entry to record cash received for work done will record the debits and credits for the financial transaction. We will record the accounting journal entry in the general journal, post it to the general ledger, and create the trial balance from the general ledger. We will debit cash and credit revenue.… Continue reading Partnership Comp Prob Revenue for Cash – 110 Journal Entry to Record Cash Received for Work Done
Statement of Cash Flows-Direct Method vs Indirect Method
Statement of cash flows direct method vs indirect method will compare and contrast the direct method and indirect method forms of the cash flow statement. When comparing the direct and indirect method we are focusing in on the cash flows from operation section of the statement of cash flows as opposed to the financing or… Continue reading Statement of Cash Flows-Direct Method vs Indirect Method
Statement of Cash Flow Direct Method – Make Statement of Cash Flows Using Direct Method
Statement of cash flows direct method will construct the statement o flows using the direct method. The direct method is less common then the indirect method for multiple reasons. One reason the indirect method is more common is that it is often required weather we use the direct method or not. In other words, we… Continue reading Statement of Cash Flow Direct Method – Make Statement of Cash Flows Using Direct Method
Partnership Comp Prob Receive Cash on Account -100 Debit Cash Credit Accounts Receivable
Partnership comprehensive problem recording the journal entry for receiving cash on account. We will record the journal entry to the general journal, post it to the general ledger, and create the trial balance from the general ledger. We will debit cash and credit accounts payable . For more accounting information see website.
Bond Price Present Value Tables – Present Value (PV) Calculations
Present value calculations using bond price will use present value tables to calculate the market value of bond price. Present value calculations can be done multiple ways either with tables, with algebra, with Excel, or with financial calculators. Each format for calculating present value has its pros and cons. It is helpful to know that… Continue reading Bond Price Present Value Tables – Present Value (PV) Calculations
Bond Present Value Excel – PV Calculations Using Bond Price Example
Use Excel to calculate present value PV using bond price as an example. There are many ways to calculate the present value. We can use present value tables, a financial calculator, math and formulas, or Excel. Each method has its pros and cons but it is important to know that are all doing much the… Continue reading Bond Present Value Excel – PV Calculations Using Bond Price Example
Premium Amortization Effective Method – Effective Method Calculation
We will calculate the amortization of a bond premium using the effective method the preferred method under GAAP. The effective method can be compared to the straight line method. Under the straight line method we divide the premium by the number of payments and reduce it by an even amount each period. Under the effective… Continue reading Premium Amortization Effective Method – Effective Method Calculation
Corporation Comp Prob Pay Vendor One Account – Pay Accounts Payable
Corporation comprehensive problem pay vendor on account well record the payment of vendors for purchases in the past, purchases for which we owe, and are represented in accounts payable. We will journalize the journal entry in the general journal, post the journal entry to the general ledger, and then create the trial balance from the… Continue reading Corporation Comp Prob Pay Vendor One Account – Pay Accounts Payable
Notes Payable Current vs. Non Current – Financial Statements
Financial statement, balance sheet, liabilities section needs to be broken out between current liabilities and non current liabilities. The concepts is simple; the practice less simple. In concepts, current liabilities are those that will be due within a year. Given this definition we should be able to go through are liabilities, determine which are due… Continue reading Notes Payable Current vs. Non Current – Financial Statements