On November 1, Year 1, Noble Co. borrowed $80,000 from South Bank and signed a 12%, six-month...
How much must Noble pay South Bank on May 1, Year 2, when the note matures?
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On November 1, Year 1, Noble Co. borrowed $80,000 from South Bank and signed a 12%, six-month...
Financial and managerial accounting
On November 1,Year 1, Noble Co borrowed $80,000 from South Bank and signed a 12% six month note payable, all due at maturity. the interest on this loan is statedseparately.At December 31, Year 1, the adjusting entry with respect to this note includesa. credit to Notes payable for $1600b. credit to Interest Payable for $1600c. credit to Cash for $3200d. Debit to Interest Expense for $3200
The Pita Pit borrowed $198,000 on November 1, 2021, and signed a six-month note bearing interest...
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...
On November 1, 2021, New Morning Bakery signed a $207,000, 6%, six-month note payable with the...
On November 1, 2021, New Morning Bakery signed a $207,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. New Morning Bakery records the appropriate adjusting entry for the note on December 31, 2021. What amount of cash will be needed to pay back the note payable plus any accrued interest on May 1, 2022? (Do not round your intermediate calculations.) Multiple Choice $208,035. $212,175. $207,000. $213,210.
On November 1, 2018, The Bagel Factory signed a $100,000, 6%, six-month note payable with the...
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.
The Pita Pit borrowed $205,000 on November 1, 2021, and signed a six-month note bearing Interest at 12%. Principal...
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...
2) On November 1, 2018, The Bagel Factory signed a $100,000, 6%, six-month note payable with...
2) 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 B) $1,000 C) $2,000. D) $3,000. A) $0.
On November 1, 2021, New Morning Bakery signed a $204,000, 6%, six-month note payable with the...
On November 1, 2021, New Morning Bakery signed a $204,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. New Morning Bakery should record which of the following adjusting entries at December 31, 2021? (Do not round your intermediate calculations.) Multiple Choice Debit Interest Expense and credit Cash, $2,040. Debit Interest Expense and credit Interest Payable, $2,040. Debit Interest Expense and credit Cash, $6,120. Debit Interest Expense and credit Interest...
Universal Travel, Inc. borrowed $494,000 on November 1, 2021, and signed a twelve-month note bearing interest...
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
Jane's Donut Co. borrowed $200,000 on January 1, 2016, and signed a one-year note bearing interest...
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)?
Dedmon Co. , whose fiscal year ends December 31, borrowed $20,400 on September 1, 2016, issuing...
Dedmon Co. , whose fiscal year ends December 31, borrowed $20,400 on September 1, 2016, issuing a 10%, ten-month note payable with interest due at maturity. When the note matures on June 30, 2017, Dedmon will write a journal entry that includes a debit to interest payable of $___________
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...
2) 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 B) $1,000 C) $2,000. D) $3,000. A) $0.
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