6) Jane's Donut Co. borrowed $200,000 on September 1, 2018, and signed a one-year note bearing interest at 12%. Interest is payable in full at maturity on September 1, 2019. In connection with this note, Jane's should report interest expense at December 31, 2018, in the amount of:
The amount of interest expense Jane should report at December 31, 2018 is 8,000 (200,000*12%*4/12).
6) Jane's Donut Co. borrowed $200,000 on September 1, 2018, and signed a one-year note bearing...
Jane's Donut Co. borrowed $193,000 on January 1, 2021, and signed a two-year note bearing interest at 9%. Interest is payable in full at maturity on January 1, 2023. In connection with this note, Jane's should report interest expense at December 31, 2021, in the amount of: Multiple Choice $34,740. $17,370. $36,824. $0.
Jane's Donut Co. borrowed $200,000 on January 1, 2016, and signed a one-year note bearing interest at 12% in payable in full at maturity on october 31, 2017. write journal entry for the following dates: Nov 1, 2016 (borrowed), December 31, 2016 (accured interest), and october 21. 2017 ( due date)?
On March 1, Year1, Fine Co borrowed $10,000 and signed a two year note bearing interest at 12% per annum compounded annually. Interest is payable in full at maturity on February 28, Year 3. What amount should Fine report as a liability for accrued interest at December 31, Year 2? a) 800 b) 0 c) 1,824 d. 1,024
Brown Corp. borrowed 100,000 on Oct. 1, 2018 and signed a 12 month note bearing interest at 6 %. Interest is payable in full at maturity on Sep. 30, 2019. Brown Corp should report interest payable at Dec. 31,2018 in the amount of journal entry to record the accrued liability:
Universal Travel, Inc. borrowed $494,000 on November 1, 2021, and signed a twelve-month note bearing interest at 6%. Principal and interest are payable in full at maturity on October 31, 2022. In connection with this note, Universal Travel, Inc. should report interest payable at December 31, 2021, in the amount of
The Pita Pit borrowed $198,000 on November 1, 2021, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2022. In connection with this note, The Pita Pit should report interest expense at December 31, 2021, in the amount of: (Do not round your intermediate calculations.) Multiple Choice $0. $3,960. $11,880. $23,760. This is the last question in the assignment. To submit, use Alt + Shift + S. To...
Question 3 (1 point) Universal Travel Inc. borrowed $500,000 on November 1, 2021, and signed a 12- month note bearing interest at 6%. Interest is payable in full at maturity on October 31, 2022. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2021, in the amount of: (Round your final answers to the nearest whole dollar.) $5,000. $8,000. $25,000. $30,000.
The Pita Pit borrowed $205,000 on November 1, 2021, and signed a six-month note bearing Interest at 12%. Principal and Interest are payable in full at maturity on May 1, 2022 In connection with this note, The Pita Pit should report Interest expense at December 31, 2021, In the amount of: (Do not round your intermediate calculations.) Multiple Choice Ο Ο $12.300. Ο 84,100. Ο Ο 524,600. Ο Ο $0. On September 1, 2021. Daylight Donuts signed a $160,000,8% six-month...
On November 1, 2018, The Bagel Factory signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2019. The Bagel Factory should report interest payable at December 31, 2018, in the amount of: A) $3,000. B) $1,000. C) $2,000. D) $0.
On September 1, 2018, Lowe Co. issued a note payable to National Bank in the amount of $1,800,000, bearing interest at 9%, and payable in three equal annual principal payments of $600,000 plus interest. The first payment for interest and principal was made on September 1, 2019. At December 31, 2019, Lowe should record accrued interest payable of a. $27,000. b. $36,000. c. $40,500. d. $54,000. e. $108,000.