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On December 31 2012 Barker Inc Provided Consulting Services

Instructor
John Marsh
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On December 31, 2012, Barker Inc. provided consulting services to Carr Company at an agreed price of $151,121.
Barker accepted $60,000 down and agreed to accept the balance in four equal installments of $30,000 to be received each December 31, beginning December 31, 2013. An assumed interest rate of 12% is imputed.

Instructions:

Using Excel, prepare the amortization schedule and then record all required journal entries that would be made by Barker on the following dates (a) December 31, 2012; (b) December 31, 2013; (c) December 31, 2014; (d) December 31, 2015; and (e) December 31, 2016.

You will be assessed on the following skills:
(1) correct data entered,
(2) correct and accessible formulas,
(3) column headings and labels,
(4) titles merged and centered, and
(5) spreadsheet formatting and printing.

 

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On December 31 2012 Barker Inc Provided Consulting Services

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