Homework Answers
|
Interest to be paid at maturity = 200,000*13.7%*6/12 = 27,400*6/12 = 13,700 Select option D |
|
Add Answer to:
Question #66 Accounting A company borrowed $200,000 by signing a 6-month promissory note at 13.7% for...
A company borrowed $22,000 by signing a 180-day promissory note at 6%. The total to be...
A company borrowed $22,000 by signing a 180-day promissory note at 6%. The total to be paid at maturity of the note is: (Use 360 days a year.)
A company borrowed $17,000 by signing a 180-day promissory note at 8%. The total to be...
A company borrowed $17,000 by signing a 180-day promissory note at 8%. The total to be paid at maturity of the note is: (Use 360 days a year.) Multiple Choice $21,420.00 $20,740.00 $20,485.00 $17,680.00 $21760.00
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest...
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (if no entry is required for a transaction/event, select "No lournal entry required in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
Pandey Inc had the following activities during the month 2 A Borrowed $810.000 cash, signing a...
Pandey Inc had the following activities during the month 2 A Borrowed $810.000 cash, signing a promissory note. 3. Bought a building for $1,020.000 paying $240.000 in cash and signing a promissory note for $780,000 C.Rented equipment at a cost of $21000 per month and issued a check covering six months' rent. D. Provided $160,000 of services and billed customers. E Purchased $52.000 of supplies on account F. Received a utilybill for the current period in the amount of $3,400....
During its first month of operations, Pluto Company (1) Borrowed $200,000 from a bank, and then...
During its first month of operations, Pluto Company (1) Borrowed $200,000 from a bank, and then (2) purchased an equipment costing $80,000 by paying cash of $40,000 and signing a long term note for the remaining amount. During the month, the company also (3) purchased inventory for $60,000 on credit, (4) performed services for clients for $120,000 on account, (5) paid $30,000 for cash for accounts payable, and (6) paid $60,000 cash for utilities. What is the amount of total...
A company borrowed money from a bank by signing a three-month note payable in the amount...
A company borrowed money from a bank by signing a three-month note payable in the amount of $15,000 on December 1. The note requires the company to pay interest at an annual rate of 8%. The company records adjusting entries on December 31. The adjusting entry that the company should record for accrued interest on December 31 would include a debit to interest expense for O $100. O $300. O $1,200 O $900. $160.
21. A company purchases a $300,000 building, paying $200,000 in cash and signing a $100,000 promissory...
21. A company purchases a $300,000 building, paying $200,000 in cash and signing a $100,000 promissory note. What will be reported on the statement of cash flows as a result of this transaction? A) A $300,000 cash outflow for investing activities. B) A $200,000 cash outflow for investing activities and a $100,000 cash inflow is recorded for financing activities. C) A $200,000 cash outflow for investing activities. D) A $300,000 cash outflow for investing activities and a $100,000 cash inflow...
Question 38 2 pts Rotten Company borrowed $50,000 from the bank by signing a 6%, 3-month...
Question 38 2 pts Rotten Company borrowed $50,000 from the bank by signing a 6%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30 would be T А 1 debit Cash, $750; credit Interest Payable. $750 debit Interest Expense, $3,000; credit Interest Payable, $3,000 debit Note Payable, $3,000 credit Cash, $3,000 debit Interest...
T&H Research borrowed $60,000 on Apr. 28, signing a note due in 220 days at a...
T&H Research borrowed $60,000 on Apr. 28, signing a note due in 220 days at a rate of 8 %. On Sept 10 the company made a partial payment of $29,500. Find the amount due at the maturity of the note and the interest paid on the note if there are no further payments until maturity Use the United States Rule. Click the icon to view the Number of Each Day of the Year table. The amount due at maturity...
On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest...
On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December reporting period. (If no entry is required for a transaction/event, select "No journal your answers in whole dollers.) I entry required" in the first account field. Enter View transaction list Journal entry worksheet Record the issuance of the note. Note:...
A company borrowed $17,000 by signing a 180-day promissory note at 8%. The total to be paid at maturity of the note is: (Use 360 days a year.) Multiple Choice $21,420.00 $20,740.00 $20,485.00 $17,680.00 $21760.00
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (if no entry is required for a transaction/event, select "No lournal entry required in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
Pandey Inc had the following activities during the month 2 A Borrowed $810.000 cash, signing a promissory note. 3. Bought a building for $1,020.000 paying $240.000 in cash and signing a promissory note for $780,000 C.Rented equipment at a cost of $21000 per month and issued a check covering six months' rent. D. Provided $160,000 of services and billed customers. E Purchased $52.000 of supplies on account F. Received a utilybill for the current period in the amount of $3,400....
A company borrowed money from a bank by signing a three-month note payable in the amount of $15,000 on December 1. The note requires the company to pay interest at an annual rate of 8%. The company records adjusting entries on December 31. The adjusting entry that the company should record for accrued interest on December 31 would include a debit to interest expense for O $100. O $300. O $1,200 O $900. $160.
21. A company purchases a $300,000 building, paying $200,000 in cash and signing a $100,000 promissory note. What will be reported on the statement of cash flows as a result of this transaction? A) A $300,000 cash outflow for investing activities. B) A $200,000 cash outflow for investing activities and a $100,000 cash inflow is recorded for financing activities. C) A $200,000 cash outflow for investing activities. D) A $300,000 cash outflow for investing activities and a $100,000 cash inflow...
Question 38 2 pts Rotten Company borrowed $50,000 from the bank by signing a 6%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30 would be T А 1 debit Cash, $750; credit Interest Payable. $750 debit Interest Expense, $3,000; credit Interest Payable, $3,000 debit Note Payable, $3,000 credit Cash, $3,000 debit Interest...
T&H Research borrowed $60,000 on Apr. 28, signing a note due in 220 days at a rate of 8 %. On Sept 10 the company made a partial payment of $29,500. Find the amount due at the maturity of the note and the interest paid on the note if there are no further payments until maturity Use the United States Rule. Click the icon to view the Number of Each Day of the Year table. The amount due at maturity...
On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December reporting period. (If no entry is required for a transaction/event, select "No journal your answers in whole dollers.) I entry required" in the first account field. Enter View transaction list Journal entry worksheet Record the issuance of the note. Note:...
Most questions answered within 3 hours.
-
Arbitration of disputes under the purview of "lemon laws" under
state statute is:
not required by...
asked 5 minutes ago -
Describe three pieces of evidence that mitochondria and evolved
from symbiotic mutualisms between a eukaryote (or...
asked 12 minutes ago -
An AM transmitter with a carrier power of 20 kW is connected to
a 50 Ω...
asked 21 minutes ago -
JAVA
Beginnings of a paper-rock-scissors game.
Paper-rock-scissors is a game often used to make decisions.
There...
asked 26 minutes ago -
Consider a concept learning example of 5 attributes. Attributes
can take one of (5,3,2,2,6) values respectively....
asked 32 minutes ago -
Red light of wavelength 675 nm is incident on a slit of width
4.56 × 10−6...
asked 42 minutes ago -
An object 4.0 mm high is on the optical axis of two lenses with
focal lengths...
asked 38 minutes ago -
Suppose that each team in a league has a demand curve for
generic advertising (a league-wide...
asked 38 minutes ago -
1. The WJC purchases denim. The avg. daily demand of
western is 1000 yards and the...
asked 47 minutes ago -
Memory Allocation
a) Is it possible to have both internal and external
fragmentation with fixed partition...
asked 47 minutes ago -
Steven can afford car payments of $300 a month for 72 months.
The bank will lend...
asked 1 hour ago -
Embedded
System..
1.
Analyze
the instruction
sets below.
LDR R1, [R0,
#0x08]
SUB R1, R1,
R2,...
asked 1 hour ago