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Please help, I can not find the
Interest receivable in the last pic.
Homework Answers
Interest revenue for the year = $4,462
Increase in Interest receivable during the year = $2,230
Interest receivable collected during the year = Interest revenue for the year - Increase in Interest receivable during the year
= 4,462 - 2,230
= $2,232
When Interest receivable is collected, it will effect the assets in the following manner:
i) Cash will increase by $2,232
ii) Interest receivable will decrease by $2,232
Hence, Interest receivable will be subtracted by $2,232 in the last pic
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Please help, I can not find the
Interest receivable in the last pic.
Required information [The...
Required information [The following information applies to the questions displayed below) Husemann Co's assets include notes...
Required information [The following information applies to the questions displayed below) Husemann Co's assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged 545700, and the interest rate of the notes averaged 8.4% Required: 0-1. Calculate the amount of interest revenue earned by Husemann Co. during fiscal 2019 Amount Required information The following information applies to me in displayed below! Husemann Co's assets include notes receivable to comers. During fiscal 2019, the amount of notes...
! Required information [The following information applies to the questions displayed below.] Husemann Co.'s assets include...
! Required information [The following information applies to the questions displayed below.] Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,200, and the interest rate of the notes averaged 8.7%. a-2. Prepare a horizontal model that accrues the interest revenue earned from the notes. (Use amounts with + for increases and amounts with – for decreases) Balance Sheet Assets Liabilities + Stockholders' Equity Net Income Revenu Income Statement ome Revenues Expenses...
Required information [The following information applies to the questions displayed below) Husemann Cosassets include notes receivable...
Required information [The following information applies to the questions displayed below) Husemann Cosassets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged 545,700, and the interest rate of the notes averaged 8.4% b-2. Prepare a horizontal model to show the collection of the amount Use amounts with for increases and amounts with for decreases ha
Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable...
Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,100, and the interest rate of the notes averaged 8.4%. b-2. Prepare a horizontal model to show the collection of this amount. (Use amounts with + for increases and amounts with – for decreases) Balance Sheet Income Statement Assets = Liabilities + Stockholder's Equity ← Net Income = Revenues − Expenses ← ← Cash Depreciation expense Interest receivable Interest revenue Note receivable
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from...
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from customers. During fiscal 2016, the smount of notes receivable averaged $45,200, and the interest rese of the notes a nonzontal model to show the collection of this amount (Use amounts with + for increases and amounts with-for decreases.)
Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable...
Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,100, and the interest rate of the notes averaged 8.4%.Prepare a horizontal model that accrues the interest revenue earned from the notes. (Use amounts with + for increases and amounts with – for decreases) Balance Sheet Assets = Liabilities Stockholders’ Equity Net income = Revenues - Expenses Cash Depreciation expense Interest receivable Interest revenue Note Receivable $ Cash Depreciation expense Interest receivable Interest...
3 Required information Husman Concludentes recom customers. Duringcal 20 the mount of notes recebe weged 6.500,...
3 Required information Husman Concludentes recom customers. Duringcal 20 the mount of notes recebe weged 6.500, and everest rate of the notes averaged .-2. Prepare a hortal model that accrues the interest revenue came from the Use amounts for increases and amounts with for decrease) 3 Required information The following information applies to the questions displayed below Husemann Cosassets include notes receivable to customers. During fiscal 2017, the amount of notes receivable wveraged $46.900, and the interest rate of the...
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from...
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from customers. During fiscal 2016, the amount of notes receivable averaged $45.200, and the interest ate of the notes averaged 166 points b-1. If the balance in the Interest Recelva ble account increased by $2.000 from the beginning to the end of the fiscal year, now much interest receivable was collected during the fsca
The following information applies to the questions displayed below Husemann Co's assets include notes receivabl e...
The following information applies to the questions displayed below Husemann Co's assets include notes receivabl e from customers. During fisca l 2016, the amount of notes receivable averaged $45,200, and the interest rate of the notes averaged 93% We were unable to transcribe this image
Check ! Required information [The following information applies to the questions displayed below.) Agrico Inc. accepted...
Check ! Required information [The following information applies to the questions displayed below.) Agrico Inc. accepted a 10-month, 11% (annual rate), $4,450 note from one of its customers on May 15, 2019; interest is payable with the principal at maturity. Required: a-1. Prepare the horizontal model to record the interest earned by Agrico during its year ended December 31, 2019. (Use amounts with + for increases and amounts with - for decreases. Do not round your intermediate calculation. Round your...
Required information [The following information applies to the questions displayed below) Husemann Co's assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged 545700, and the interest rate of the notes averaged 8.4% Required: 0-1. Calculate the amount of interest revenue earned by Husemann Co. during fiscal 2019 Amount Required information The following information applies to me in displayed below! Husemann Co's assets include notes receivable to comers. During fiscal 2019, the amount of notes...
! Required information [The following information applies to the questions displayed below.] Husemann Co.'s assets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged $45,200, and the interest rate of the notes averaged 8.7%. a-2. Prepare a horizontal model that accrues the interest revenue earned from the notes. (Use amounts with + for increases and amounts with – for decreases) Balance Sheet Assets Liabilities + Stockholders' Equity Net Income Revenu Income Statement ome Revenues Expenses...
Required information [The following information applies to the questions displayed below) Husemann Cosassets include notes receivable from customers. During fiscal 2019, the amount of notes receivable averaged 545,700, and the interest rate of the notes averaged 8.4% b-2. Prepare a horizontal model to show the collection of the amount Use amounts with for increases and amounts with for decreases ha
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from customers. During fiscal 2016, the smount of notes receivable averaged $45,200, and the interest rese of the notes a nonzontal model to show the collection of this amount (Use amounts with + for increases and amounts with-for decreases.)
3 Required information Husman Concludentes recom customers. Duringcal 20 the mount of notes recebe weged 6.500, and everest rate of the notes averaged .-2. Prepare a hortal model that accrues the interest revenue came from the Use amounts for increases and amounts with for decrease) 3 Required information The following information applies to the questions displayed below Husemann Cosassets include notes receivable to customers. During fiscal 2017, the amount of notes receivable wveraged $46.900, and the interest rate of the...
The following information applies to the questions displayed below Husemann Co's assets include notes receivable from customers. During fiscal 2016, the amount of notes receivable averaged $45.200, and the interest ate of the notes averaged 166 points b-1. If the balance in the Interest Recelva ble account increased by $2.000 from the beginning to the end of the fiscal year, now much interest receivable was collected during the fsca
The following information applies to the questions displayed below Husemann Co's assets include notes receivabl e from customers. During fisca l 2016, the amount of notes receivable averaged $45,200, and the interest rate of the notes averaged 93% We were unable to transcribe this image
Check ! Required information [The following information applies to the questions displayed below.) Agrico Inc. accepted a 10-month, 11% (annual rate), $4,450 note from one of its customers on May 15, 2019; interest is payable with the principal at maturity. Required: a-1. Prepare the horizontal model to record the interest earned by Agrico during its year ended December 31, 2019. (Use amounts with + for increases and amounts with - for decreases. Do not round your intermediate calculation. Round your...
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