Ask Experts Questions for FREE Help !
Ask
    ice age's Avatar
    ice age Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Aug 28, 2012, 07:24 AM
    note recivable
    What is the journal entry for this problem
    company A sold used equipment with a cost of 35000 , carying value 26000 , fair value 40000 for a note with present value of 40000 and maturity value of 46000
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Aug 28, 2012, 08:53 AM
    Quote Originally Posted by ice age View Post
    What is the journal entry for this problem
    company A sold used equipment with a cost of 35000 , carying value 26000 , fair value 40000 for a note with present value of 40000 and maturity value of 46000
    It is AMHD policy not to do homework - please post your answer and someone will come along to review it.
    ice age's Avatar
    ice age Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Aug 28, 2012, 10:51 AM
    Actully it is not homework.. anyway.. what Idid debit note recivable 40000 , accumlated dep 9000 , credit equipment 35000 , gain 5000 and discount on note 9000
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #4

    Aug 28, 2012, 11:00 AM
    Quote Originally Posted by ice age View Post
    Actully it is not homework..anyway..what Idid debit note recivable 40000 , accumlated dep 9000 , credit equipment 35000 , gain 5000 and discount on note 9000

    Listing it as a "problem" led me to believe it was a homework question.

    What type of equipment?
    ice age's Avatar
    ice age Posts: 3, Reputation: 1
    New Member
    		  
    #5

    Aug 28, 2012, 11:06 AM
    Quote Originally Posted by JudyKayTee View Post
    Listing it as a "problem" led me to believe it was a homework question.

    What type of equipment?
    I don't know.. the point is that it seems that my mind was not working properly I think it should be 14000 gain on disposal with no discound on note..
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #6

    Aug 28, 2012, 11:19 AM
    Quote Originally Posted by ice age View Post
    I dont't know..the point is that it seems that my mind was not working properly I think it should be 14000 gain on disposal with no discound on note..

    It's an actual question concerning your employment or a company (company "A") that you own and you don't know what type of equipment is involved?

    The point is that AMHD does not do homework.

    I find it really offensive when someone thinks I'm stupid - trust me, I'm not. You, on the other hand, are very transparent.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Debit Note Credit Note definition [ 11 Answers ]

Hi I want to know definition of Debit Noe, Credit Note.

Supplier overcharge to us, so what we issue debit note or credit note to them? [ 1 Answers ]

Nice to be you member. I have one question: If supply over charge to us, do we need to issue debit note and credit note? Thanks your help, Regards, Sodany

On a different note [ 9 Answers ]

So Ive been working this third job for about a month and there is this fine waitress who has been flurting it up with me. On sat I come to find out she has a boyfriend of 4 years, Now I was not going to pursue this in the first place because of her age. Im 25 she is 18. In my eyes she is to...

View more questions Search