If interest is due at maturity, a $50,000, 4%, 9-month note payable requires an interest payment of
1,500. |
222. |
167. |
2,000. |
If interest is due at maturity, a $50,000, 4%, 9-month note payable requires an interest payment of 1,500....
a company signs a $200,000, 4% 9-month note. Interest is due at maturity. What is the adjusting entry required if the company prepares financial statements on June 30? need to show the calculation process, not just the answer
On 9/1/18, signed a note payable of $5,000, with interest rate of 6%. Interest only payment is due on 12/31. FYE is 10/31. On 9/1/18, signed a note payable of $5,000, with interest rate of 6%. Interest only payment is due on 12/31. FYE is 10/31. Date 9/1/18 10/31/18 12/31/18
1. The note payable was issued on June 1 to purchase the equipment.The note is due in two years, on june 1, 2023, and carries interest at the rate of 6%.The principal is due at maturity and the interest is payable at the beginning of each month The trial balance before adjustment of Heis Delivery Services at the end of its first month of operations follows: Heis Delivery Services Trial Balance June 30, 2021 Debit Credit Cash $4,200 Prepaid Insurance...
A company issues $50,000 of 4% bonds, due in 5 years, with interest payable semiannually. Assuming a market rate of 3%, the bonds issue for $52,306. Calculate interest expense as of the first semiannual interest payment 84 Skipped Multiple Choice $1,570. $1,000 $785 $375
What is the maturity value of a $9,000 note, bearing interest at 9 percent, and due 105 days after date of issue of the note?
On August 31, 2020, Pine Company issued a 9-month, 12% note payable to National Bank in the amount of $180,000. Interest is due at maturity. Record the entries for Pine Company on the following dates. a. Issuance of the note on August 31, 2020. b. Adjusting entry on December 31, 2020, Pine Company's fiscal year-end. C. Payment of the note payable on May 31, 2021. Note: List multiple debits or credits (when applicable) in alphabetical order. Date Account Name Dr....
A company issues $50,000 of 4% bonds, due in 5 years, with interest payable semiannually. Assuming a market rate of 3%, the bonds issue for $52,306. Calculate the carrying value of the bonds after the first semiannual interest payment. Multiple Choice o $51,306. o $52,091. o О $49,000. o O S51,521. $51,521.
July 1 Orcas ab issued a $180,000.13%, month note. Interest is payable at maturity. What is the amount of interest expense that should be recorded in a year end adjusting entry if the fiscal year-end is (a) December 31? (b) September 30 On September 30
i Data Table $ . $ Note Payable (long-term) Bonds Payable (due 2022) Interest Payable (due next year) Estimated Warranty Payable 250,000 Accounts Payable 350.000 Discount on Bonds Payable 1,900 Salaries Payable 1,500. Sales Tax Payable 37,000 10,500 3.400 900 Print Done Majestic Suites Hotels Balance Sheet (Partial) December 31, 2018
ding inte ming Note Payable che On August 31, 2020, Pine Company issued a 9-month, 12% note payable to National Bank in the amount of $810,000. Interest is due at maturity. Record the entries for Pine Company on the following dates. a. Issuance of the note on August 31, 2020. b. Adjusting entry on December 31, 2020, Pine Company's fiscal year-end. c. Payment of the note payable on May 31, 2021. Note: List multiple debits or credits (when applicable) in...