Homework Answers
| Note | Date | Face amount | Interest | Maturity Value | ||
| 21 | Jan-05 | 50000 | 50000 x 8% x 3/12 | 1000 | 51000 | |
| 22 | Jun-03 | 14000 | 14000 x 10% x 90/360 | 350 | 14350 | |
| 23 | Sep-28 | 8000 | 8000 x 9% x 3/12 | 180 | 8180 | |
| Total Interest Expense | 1530 | |||||
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** VOUC. LU 102 The following notes were received by Miller Company during 2019: Note No....
Wrigley Company issued the following notes during 2019. Find the interest due on each of the...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. points Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? References Complete this question by entering your answers in the tabs below. Interest Due Analyze Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year.) 1. A $27,000...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? Complete this question by entering your answers in the tabs below. Interest Due Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year) Interest 1. A $24,000 note at...
Find the maturity value of each of the following notes payable: 1. A 120-day note, dated...
Find the maturity value of each of the following notes payable: 1. A 120-day note, dated February 15, 2019, with a face value of $31,000, bearing interest at 6 percent. (Use 360 days a year. Round your answers to 2 decimal places.) 2. A six-month note, dated March 10, 2019, with a face value of $5,800, bearing interest at 9 percent Maturity value
Determine Due Date and Interest on Notes Determine the due date and the amount of interest...
Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes Date of Note Face Amount Interest Rate a. January 10 $40,000 b. March 19 18,000 c. June 5 90,000 d. September 8 36,000 e. November 20 27,000 *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest (a) Apr. 10 Sept. 15 Term of Note 90 days 180...
Compute the maturity value on each of the following notes. Fill in the missing entries for time or maturity date. (Use...
Compute the maturity value on each of the following notes. Fill in the missing entries for time or maturity date. (Use a 360-day year.) Round your answers to two decimal places, if necessary Time Face Value Date Maturity Date Rate Maturity Value Sept. 10, 2012 $25,000 May 10, 2012 5.6% days a. Select b. 75 days $11,350 Mar. 11, 2009
For each of the following notes receivable, compute the amount of interest revenue earned during 2018....
For each of the following notes receivable, compute the amount of interest revenue earned during 2018. Use a 360-day year, and round to the nearest dollar. (Click the icon to view the notes.) Enter the amount of interest revenue eamed during 2018 for each note. Use a 360-day year. (Round your final answers to the nearest whole dollar) Note 1 Note 2 Note 3 Note 4 rest revenue eamed during 2018. Use a 360-day year, and round to the nearest...
For each of the following notes receivable, compute the amount of interest revenue eamed during 2018. Use a 360-da...
For each of the following notes receivable, compute the amount of interest revenue eamed during 2018. Use a 360-day year, and round to the nearest dollar Click the icon to view the notes.) Enter the amount of interest revenue earned during 2018 for each note. Use a 360-day year. (Round your final answers to the nearest whole dollar.) Note 1 Note 2 Note 3 Note 4 i Data Table Interest Period During 2018 2 months Principal Interest Rate Note 1...
The notes receivable held by the Tuttle Company on August 3, 2019, are summarized below. On...
The notes receivable held by the Tuttle Company on August 3, 2019, are summarized below. On August 4, 2019, Tuttle discounted all of these notes at Community Bank and Trust at a discount rate of 12 percent. Note No. Date Face Amount Period Interest Rate 31 Apr. 4, 2019 $ 33,000 6 months 10 % 32 June 11, 2019 17,100 120 days 7 % 33 July 31, 2019 14,800 60 days 12 % Required: Compute the net proceeds received from...
Chapter 8 Homework eBook Calculator Sales and Notes Receivable Transactions The following were selected from amo...
Chapter 8 Homework eBook Calculator Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21. Sold merchandise on account to Black Tie Co., $28,000. The cost of goods sold was $16,800, Mar. 18. Accepted a 60-day, 6% note for $28,000 from Black Tie Co. on account. May 17 Received from Black Tie Co, the amount due on the note of March 18. June...
Exercise 16.2 Determining the maturity value of notes. Compute the maturity value for each of the...
Exercise 16.2 Determining the maturity value of notes. Compute the maturity value for each of the following notes: A note payable with a face amount of $25,000, dated June 15, 2019, due in three months, bearing interest at 7 percent. A note payable with a face amount of $22,000, dated May 5, 2019, due in 45 days, bearing interest at 8 percent.
Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. points Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? References Complete this question by entering your answers in the tabs below. Interest Due Analyze Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year.) 1. A $27,000...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? Complete this question by entering your answers in the tabs below. Interest Due Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year) Interest 1. A $24,000 note at...
Find the maturity value of each of the following notes payable: 1. A 120-day note, dated February 15, 2019, with a face value of $31,000, bearing interest at 6 percent. (Use 360 days a year. Round your answers to 2 decimal places.) 2. A six-month note, dated March 10, 2019, with a face value of $5,800, bearing interest at 9 percent Maturity value
Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes Date of Note Face Amount Interest Rate a. January 10 $40,000 b. March 19 18,000 c. June 5 90,000 d. September 8 36,000 e. November 20 27,000 *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest (a) Apr. 10 Sept. 15 Term of Note 90 days 180...
Compute the maturity value on each of the following notes. Fill in the missing entries for time or maturity date. (Use a 360-day year.) Round your answers to two decimal places, if necessary Time Face Value Date Maturity Date Rate Maturity Value Sept. 10, 2012 $25,000 May 10, 2012 5.6% days a. Select b. 75 days $11,350 Mar. 11, 2009
For each of the following notes receivable, compute the amount of interest revenue earned during 2018. Use a 360-day year, and round to the nearest dollar. (Click the icon to view the notes.) Enter the amount of interest revenue eamed during 2018 for each note. Use a 360-day year. (Round your final answers to the nearest whole dollar) Note 1 Note 2 Note 3 Note 4 rest revenue eamed during 2018. Use a 360-day year, and round to the nearest...
For each of the following notes receivable, compute the amount of interest revenue eamed during 2018. Use a 360-day year, and round to the nearest dollar Click the icon to view the notes.) Enter the amount of interest revenue earned during 2018 for each note. Use a 360-day year. (Round your final answers to the nearest whole dollar.) Note 1 Note 2 Note 3 Note 4 i Data Table Interest Period During 2018 2 months Principal Interest Rate Note 1...
Chapter 8 Homework eBook Calculator Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21. Sold merchandise on account to Black Tie Co., $28,000. The cost of goods sold was $16,800, Mar. 18. Accepted a 60-day, 6% note for $28,000 from Black Tie Co. on account. May 17 Received from Black Tie Co, the amount due on the note of March 18. June...
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