1 answer

Please help me with all parts ill leave you a good review and a thubms up...

Question:

Check my work Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lathe. The
Check my work Req 1A Req 1B Reg 2 Reg 3 Prepare the journal entry on January 1, 2021, for Amber Mining and Millings purchase
Submit Check my work Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lath
Req 1A Req 1B Req 2 Reg 3 Prepare the journal entries to record (a) Interest for each of the three years and (b) payment of t
View transaction list Journal entry worksheet Record the interest in year 2. Note: Enter debits before credits. Event General
answers to the nearest whole dollar.) Lleu. Round intermediate calculations and final View transaction list Journal entry wor
View transaction list Journal entry worksheet < 1 2 3 4 Record the payment of the note at maturity. Note: Enter debits before
please help me with all parts
ill leave you a good review and a thubms up
Check my work Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lathe. The machine was completed and ready for use on January 1, 2021. Amber paid for the lathe by issuing a $500,000, three-year note that specified 5 Interest, payable annually on December 31 of each year. The cash market price of the lathe was unknown. It was determined by comparison with similar transactions that 8% was a reasonable rate of interest. (V of $1. PV of $1. EVA of $1. PVA SLEVAD of Stand PVAD of $1) (Use appropriate factor(s) from the tables provided.) $500 Commande kot price of Required: 1-a. Complete the table below to determine the price of the equipment. 1-b. Prepare the journal entry on January 1, 2021, for Amber Mining and Milling's purchase of the lathe. 2. Prepare an amortization schedule for the three-year term of the note. 3. Prepare the journal entries to record (a) interest for each of the three years and (b) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Req1A Red Reg 2 Reg 3 Complete the table below to determine the price of the equipment. (Round final answers to the nearest whole dollar) Table values are based on: Amount Present Value Cash Flow Interest Principal Price of equipment Reg 10 >
Check my work Req 1A Req 1B Reg 2 Reg 3 Prepare the journal entry on January 1, 2021, for Amber Mining and Milling's purchase of the lathe. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round Intermediate calculations and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the Amber Mining and Milling's purchase of the lathe. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 < Prev 11 of 17 ! Next >
Submit Check my work Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lathe. The machine was completed and ready for use on January 1, 2021. Amber paid for the lathe by issuing a $500,000, three-year note that specified 5% Interest, payable annually on December 31 of each year. The cash market price of the lathe was unknown. It was determined by comparison with similar transactions that 8% was a reasonable rate of interest (FV of $1. PV of $1. EVA of $1. PVA $1. EVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Complete the table below to determine the price of the equipment. 1-b. Prepare the journal entry on January 1, 2021, for Amber Mining and Milling's purchase of the lathe. 2. Prepare an amortization schedule for the three-year term of the note. 3. Prepare the journal entries to record (a) interest for each of the three years and (b) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Reg 1A Req 1B 1 Rea 2 Reg 3 Prepare an amortization schedule for the three-year term of the note. (Round intermediate calculations and final answers to the nearest whole dollar) Cash Payment Effective Interest Increase in Balance Outstanding Balance 2 3 Total
Req 1A Req 1B Req 2 Reg 3 Prepare the journal entries to record (a) Interest for each of the three years and (b) payment of the note at maturity. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and na answers to the nearest whole dollar.) View transaction list Journal entry worksheet 2 3 4 Record the interest in year 1. Note: Enter debits before credits. Event General Journal Debit Credit < Prev 11 of 17 Next > 19
View transaction list Journal entry worksheet Record the interest in year 2. Note: Enter debits before credits. Event General Journal Debit Credit < Prev 11 of 17 !!! Next >
answers to the nearest whole dollar.) Lleu. Round intermediate calculations and final View transaction list Journal entry worksheet < 1 2 3 Record the interest in year 3. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal < Prev 11 of 17 Next >
View transaction list Journal entry worksheet < 1 2 3 4 Record the payment of the note at maturity. Note: Enter debits before credits. Event General Journal Debit Credit View general journal Record entry Clear entry < Prev 11 of 17 Next >

Answers

Answer Noter Payable If anyone who has less quail q6ilby of cash for the purchase of some quet then he an sigh a notes peyablyear hell completion of table to Jelena.ne_the_price__of_the equipment price of the equipment is equal to the present value oAmor/1441109 schedule for _q_3 year term of Jobe restrictions 2 As discurred earlie, company has got holes payable on discoun25000 Hoes 31,20 Interfit expense Ale Dr. 37560 To Cash Alo To ojcount on Notes Payable Ne Being to record inlevert expenre o

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