The first image is the original question and the following images are the answer choices for each box
Homework Answers
| December 31 interest accrued = 50000*8%*4/12= $1333.33 |
| Interest expense on March 31 = 50000*8%*3/12= $1000 |
| The journal entry on September 1st,2019 is a Debit to Cash $50,000 and a Credit to Notes payable $50,000 |
| To accrue interest is a Debit to Interest expense $1,333.33 and a Credit to Interest payable $1,333.33 |
| Interest expense on March 31st,2020 = $1000 |
| Cash pay back on March 31st,2020 = $52,333.33 |
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The first image is the original question and the following images are the answer choices for each box Question 4...
please explain the last two parts how is it $1000 and how is it $52,333.33 your...
please explain the last two parts
how is it $1000
and how is it $52,333.33
your company obtains a short term loon on Seplember Ist , 2019 to Contes! costs to purchase myentory. The loan is for $50,000, the annual interest rate is 8 %. The loan is for 7 months and matures on March 31st, 2020 The journal entry on September 1st 2019 is DR. Cash 350,000 c Noles payable $50,000 Assumme a December 31 escolar end, the joxnal...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the following images are the answer choices given for...
The first image is the original question, the following images
are the answer choices given for each box.
Question 2 1 pts An employee is paid $7,500 in wages and has $1,800 in Federal Income Tax withheld and $318 in State Income tax withheld. In addition, 1.45% for FICA-Medicare and6.2% for FICA-Social Security is withheld. What is the journal entry the employer does to record the payment to the employee? Debit ( Select ] - Credit [Select] Credit [Select ]...
the first image is the original question, the following images are the answer choices for each...
the first image is the original question,
the following images are the answer choices for each box
Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer and $27.97 in taxes. The entry Home Depot does to record the sale is to: Debit Select Credit Select] Credit Select Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer...
The first image is the original question, the following images are the answer choices given for...
The first image is the original question, the following images
are the answer choices given for each box
Question 3 1 pts Apple, Inc. offers a 1 year warranty on its Apple products. In 2018 Apple estimated $3.8b in warranty claims for phones they sold in 2018. During 2019 Apple incurred $3.7b expenses to satisfy warranty claims. What journal entry does Apple record at the end of 2018? [Select] What journal entry does Apple record in 2019? [Select] Question 3...
First image is the question and the rest are the answer options Question 3 1 pts...
First image is the question and the rest are the answer
options
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select] What is the journal entry recorded when the bonds mature? [Select] Question 3 1 pts If...
Revise your calculations based the new information provided below and then answer the questions that follow....
Revise your calculations based the new information provided below and then answer the questions that follow. A company lends $336,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
Revise your calculations based the new Information provided below and then answer the questions that follow....
Revise your calculations based the new Information provided below and then answer the questions that follow. A company lends $378,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] Select] CR [Select] Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
please explain the last two parts
how is it $1000
and how is it $52,333.33
your company obtains a short term loon on Seplember Ist , 2019 to Contes! costs to purchase myentory. The loan is for $50,000, the annual interest rate is 8 %. The loan is for 7 months and matures on March 31st, 2020 The journal entry on September 1st 2019 is DR. Cash 350,000 c Noles payable $50,000 Assumme a December 31 escolar end, the joxnal...
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the following images
are the answer choices given for each box.
Question 2 1 pts An employee is paid $7,500 in wages and has $1,800 in Federal Income Tax withheld and $318 in State Income tax withheld. In addition, 1.45% for FICA-Medicare and6.2% for FICA-Social Security is withheld. What is the journal entry the employer does to record the payment to the employee? Debit ( Select ] - Credit [Select] Credit [Select ]...
the first image is the original question,
the following images are the answer choices for each box
Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer and $27.97 in taxes. The entry Home Depot does to record the sale is to: Debit Select Credit Select] Credit Select Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer...
The first image is the original question, the following images
are the answer choices given for each box
Question 3 1 pts Apple, Inc. offers a 1 year warranty on its Apple products. In 2018 Apple estimated $3.8b in warranty claims for phones they sold in 2018. During 2019 Apple incurred $3.7b expenses to satisfy warranty claims. What journal entry does Apple record at the end of 2018? [Select] What journal entry does Apple record in 2019? [Select] Question 3...
First image is the question and the rest are the answer
options
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select] What is the journal entry recorded when the bonds mature? [Select] Question 3 1 pts If...
Revise your calculations based the new information provided below and then answer the questions that follow. A company lends $336,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
Revise your calculations based the new Information provided below and then answer the questions that follow. A company lends $378,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
The first image is the original question, the rest are the
answer choices for each box.
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] Select] CR [Select] Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal...
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
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