ZuoTi.Pro
Question
please calculate the interest expense
10. June 16: Byte purchased a building and the land it is on for $149,000, to house its repair facilities and to store comput
29 The annual interest rate on the mortgage payable was 8.25 percent. Interest expense for one-half month should be computed
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer is given below

Interest calculation is rounded off to 2 decimals

0.5 is used for half month

Interest on Mortgage $460.97 Cost of Building and Land Less: Cash down payment Balance - Mortgage $149,000 -$14,900 $134,100

0 0
Add a comment
Know the answer?
Add Answer to:
please calculate the interest expense 10. June 16: Byte purchased a building and the land it...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • please complete the journal entries please complete the journal entries Description of transaction 01. June 1:...

    please complete the journal entries please complete the journal entries Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $32,480 in cash and computer equipment with a fair market value of $44,370 were received. 02. June 1: Byte of Accounting, Inc. issued 1,879 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $17,400 and office equipment with a...

  • 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy...

    01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $31,900 in cash and computer equipment with a fair market value of $45,530 were received. 02. June 1: Byte of Accounting, Inc. issued 1,851 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $16,240 and office equipment with a fair value of $1,189. 03. June 1:   Byte of Accounting, Inc. acquired $58,000...

  • Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its...

    Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $31,900 in cash and computer equipment with a fair market value of $45,530 were received. 02. June 1: Byte of Accounting, Inc. issued 1,851 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $16,240 and office equipment with a fair value of $1,189. 03. June 1:   Byte of...

  • в Byte of Accounting, Inc. John Clark 3394 Description of transaction June 1: Byte of Accounting,...

    в Byte of Accounting, Inc. John Clark 3394 Description of transaction June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $25,300 in cash and computer equipment with a fair market value of $35,650 were received. Transaction 01. June 1: Byte of Accounting, Inc. issued 2.451 shares of its common stock after acquiring from Courtney S42,550 in cash, computer equipment with a fair market value of $12,880 and office equipment with a fair value...

  • June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Jeremy after...

    June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Jeremy after $30,160 in cash and computer equipment with a fair market value of $44,660 were received. June 1: Byte of Accounting, Inc. issued 1,962 shares of its common stock after acquiring from Courtney $42,050 in cash, computer equipment with a fair market value of $13,920 and office equipment with a fair value of $928. June 1:   Byte of Accounting, Inc. acquired $69,600 in cash from...

  • ransaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its...

    ransaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $31,900 in cash and computer equipment with a fair market value of $45,530 were received. 02. June 1: Byte of Accounting, Inc. issued 1,851 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $16,240 and office equipment with a fair value of $1,189. 03. June 1: Byte of...

  • #29 says the annual interest rate on the mortgage payable was 7.00 percent. Interest expense for ...

    #29 says the annual interest rate on the mortgage payable was 7.00 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16th.  #19 says purchased office supplies for $605 on credit. Record the purchase as an increase to the assets. I only need help with #'s 27-39 Transaction Description of transaction June 1: Byte of Accounting, Inc. acquired $50,000 in cash from Lauryn and issued 2,000 shares...

  • 32 only What are the three depreciation expenses given the following information BUILDING- COMPUTER EQUIP- OFFICE...

    32 only What are the three depreciation expenses given the following information BUILDING- COMPUTER EQUIP- OFFICE EQUIP- Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,620 shares of its common stock to Jeremy after $29,960 in cash and computer equipment with a fair market value of $43,400 were received. 02. June 1: Byte of Accounting, Inc. issued 2,122 shares of its common stock after acquiring from Courtney $43,400 in cash, computer equipment with a fair market...

  • Paste Copy Format BIU-- - Merge & Center DA X ✓ fx June 1: Byte of...

    Paste Copy Format BIU-- - Merge & Center DA X ✓ fx June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to Jeremy after $27,040 inca 3 Transaction Byte of Accounting, Inc. Akaolisa Ngwu 6023 Description of transaction June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to Jeremy after $27.040 in cash and computer equipment with a fair market value of $40,820 were received June 1: Byte of Accounting, Inc. issued...

  • EM221 Insert Draw Page Layout Formulas Data Review View Home Paste June 1: Byte of Accounting, In...

    journalize thse transactions EM221 Insert Draw Page Layout Formulas Data Review View Home Paste June 1: Byte of Accounting, Ine. issued 2,590 shares of its common stock to Jeremy after $22,660 in cash nd omputer o apment with a fair market value of$34,320 were received. 01. June I: Byte of Accounting, Inc, issued 2,371 shares of its common stock after acquiring from Courtney $38,500 in cash, computer equipment with a fair market value of $12,760 and office equipment with a...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT