B. Row, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238 will be made on December 31 each year. Round to the nearest dollar.
Part A: Show the effect on the accounting equation:

Part B: For each item, write in the amount (even if $0) as of or for the Year Ended December 31, 2010 and 2011 in the column of one financial statement where each amount is found

Question

B. Row, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238 will be made on December 31 each year. Round to the nearest dollar.
Part A: Show the effect on the accounting equation:

Part B: For each item, write in the amount (even if $0) as of or for the Year Ended December 31, 2010 and 2011 in the column of one financial statement where each amount is found

Quizplus · Accepted Answer

The Answer of B. Row, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238 will be made on December 31 each year. Round to the nearest dollar.
Part A: Show the effect on the accounting equation:

Part B: For each item, write in the amount (even if $0) as of or for the Year Ended December 31, 2010 and 2011 in the column of one financial statement where each amount is found

B Row, Inc