On June 30, 2019, Liang sold its patent with a carrying value of $79,884 to Miller Enterprises for $5,000 cash and a note specifying ten annual payments of $10,000. The first payment was due June 30, 2020. Liang uses 8% as discount rate. Which of the following would not be included in the journal entry to record the sale of the patent on June 30, 2019? Select one: O a. CR Discount on Note Receivable $32,899 O b. CR Gain on Sale of Patent $7,783 O c. CR Patent $79,884 O d. DR Cash $5,000 O All of the above would be included in the journal entry

President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note requiring President to make six annual payments of $4,800 on each September 30, beginning on September 30, 2027. Required: Calculate the amount at which President should record the note payable and corresponding purchase on September 30, 2024, assuming that an interest rate of 9% properly reflects the time value of money in this situation. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount.  1) Amount recorded?

as show in the pic

What is the revenue earned from award credits for 2022? *see attached a. P 0b. P 28,000c. P 36,000d. P 116,000

Domestic

Pina Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Pina should pay $19,650 at the time of purchase and $5,220 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2020, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Cost of tractor to be recorded $

Lincoln Company purchased merchandise from Grandville Corp, on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $5,200 on each September 30, beginning on September 30, 2024 (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 11% properly reflects the time value of money in this situation Amount recorded

Early in 2020, Pina Equipment Company sold 400 Rollomatics at $6,000 each. During 2020, Pina spent $20,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All sales transactions are on a cash basis. A.   Prepare 2020 entries for Pina. Assume that Pina estimates the total cost of servicing the warranties in the second year will be $37,000. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) B.   Prepare 2020 entries for Pina assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $58,000 relates to sales of warranty contracts.Warranty costs incurred in 2020 were $20,000. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account…

President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note requiring President to make six annual payments of $4,600 on each September 30, beginning on September 30, 2027.   Calculate the amount at which President should record the note payable and corresponding purchase on September 30, 2024, assuming that an interest rate of 10% properly reflects the time value of money in this situation. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. Round your intermediate calculations to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)

On 1 July 2019, Sitara Ltd sells a computer to Kitara Ltd. The computer cost Sitara Ltd $9000. Rather than selling the item for a cash price or a short-term claim for cash of $12 009, Sitara Ltd accepts a promissory note that requires Kitara Ltd to make four annual payments of $4000 each, the first one to be made on 30 June 2020. The difference between the gross receipts and the current sales price represents interest revenue earned by Sitara Ltd over the note period. The rate implicit in the arrangement is 12 per cent. Provide a journal entry with a clear distribution of instalment payment into interest and principal amount as of 30/6/2021.