Homework Answers
Solution:
Interest on Note = $45,200 *9.3% = $4,203.60
Entry to collect this amount:
Cash Dr $4,203.60
To Interest Receivable $4,203.60
| Balance Sheet | Income Statement | ||||||||||||
| Assets | = | Liabilities | + | Stockholders' Equity | Net Income | = | Revenues | - | Expenses | ||||
| Interest Receivable | (-)$4203.60 | ||||||||||||
| Cash | (+)$4203.60 | ||||||||||||
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The following information applies to the questions displayed below Husemann Co's assets include notes receivable from...
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...
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
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
! 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...
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
Please help, I can not find the Interest receivable in the last pic. Required information [The...
Please help, I can not find the
Interest receivable in the last pic.
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 $46,000, and the interest rate of the notes averaged 9.7%. Required: a-1. Calculate the amount of interest revenue earned by Husemann Co. during fiscal 2019. Amount $ 4,462 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...
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...
Required information [The following information applies to the questions displayed below.] A company makes the payment...
Required information [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,504 on March 1, 2019. a-1. Use the horizontal model to record the above transaction. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Assets Liabilities + Stockholders' Ec Required information [The following information applies to the questions displayed below.) A company makes the payment of a one-year insurance premium of $3,504 on...
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...
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
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
! 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...
Please help, I can not find the
Interest receivable in the last pic.
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 $46,000, and the interest rate of the notes averaged 9.7%. Required: a-1. Calculate the amount of interest revenue earned by Husemann Co. during fiscal 2019. Amount $ 4,462 Required information The following information applies to the questions displayed below.]...
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...
Required information [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,504 on March 1, 2019. a-1. Use the horizontal model to record the above transaction. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Assets Liabilities + Stockholders' Ec Required information [The following information applies to the questions displayed below.) A company makes the payment of a one-year insurance premium of $3,504 on...
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