Homework Answers
Note: As HOMEWORKLIB RULES honor code only one question can be asked at a time as it is not mentioned which question is to be solved so only 1ST question is solved hope you understand
Thank you
Answer 1. $307500
Calculated as
Interest for six months on Note Payable = $300000*5%*6/12 = $7500
Amount Note = $300000
Total amount payable on due date June 1 = $300000+7500= $307500 including accrued interest
So cash needed to pay back notes payable plus accrued interest = $307500
Add Answer to:
On December 1 2021 Old World Delisigned a $300,000.5% six-month note payable with the amount borrowed...
On September 1, 2021, Daylight Donuts signed a $160,000, 10%, six-month note payable with the amount...
On September 1, 2021, Daylight Donuts signed a $160,000, 10%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2022. Daylight Donuts records the appropriate adjusting entry for the note on December 31, 2021. In recording the payment of the note plus accrued interest at maturity on March 1, 2022, Daylight Donuts would: (Do not round your intermediate calculations.) Multiple Choice Debit Interest Expense, $8,000. Debit Interest Expense, $5,333. Debit Interest Payable,...
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...
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, 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...
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.
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.
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...
atch the following Payroll taxes Line of credit Interest on debt The riskiness of a business's...
atch the following Payroll taxes Line of credit Interest on debt The riskiness of a business's obligations Current portion of long-term debat Match each of the options above to the items below Long term debt maturing within one year of the balance sheet date, Classifying liabilities as either current or long-term helps investors and creditors assess this. Amount of note payable annual interest rate fraction of the year FICA and FUTA. Informal agreement that permits a company to borrow up...
Entity M signed a six-month note payable in the amount of $60,000 on October 1. The...
Entity M signed a six-month note payable in the amount of $60,000 on October 1. The note requires interest at an annual rate of 7%. The amount of interest expense Entity M must recognize at December 31 is: $4,200. $350. $1,050. $1,200.
Entity M signed a six-month note payable in the amount of $60,000 on October 1. The...
Entity M signed a six-month note payable in the amount of $60,000 on October 1. The note requires interest at an annual rate of 7%. The interest expense accrual at the end of the period would require:
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.
atch the following Payroll taxes Line of credit Interest on debt The riskiness of a business's obligations Current portion of long-term debat Match each of the options above to the items below Long term debt maturing within one year of the balance sheet date, Classifying liabilities as either current or long-term helps investors and creditors assess this. Amount of note payable annual interest rate fraction of the year FICA and FUTA. Informal agreement that permits a company to borrow up...
Most questions answered within 3 hours.
-
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 1 hour ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 1 hour ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 2 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 3 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 4 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 4 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 4 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 4 hours ago -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 4 hours ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 4 hours ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 4 hours ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 4 hours ago