☐ Business started: 1 January 2018 ☐ License cost: $16,000 License duration: 2 years Period covered by income statement: 6 months (from Jan 1 to June 30, 2018)
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- Financial accountingMore info Oct. 1 Nov. 15 Dec. 31 Sold a six-month subscription (starting on November 1), collecting cash of $270, plus sales tax of 5%. Remitted (paid) the sales tax to the state of Tennessee. Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year. Print Done - XPlease provide correct answer general accounting
- Financial AccountingOn June 1, Davis Inc. issued an $76,100, 12%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a.$1,522 b.$9,132 c.$761 d.$2,308A
- rent Assets all Hanson Construction has an operating cycle of 9 months. On December 31, 2019, Hanson has the following assets and liabilities: a. A note receivable in the amount of $1,200 to be collected in 6 months b. Cash totaling $460 c. Accounts payable totaling $1,700, all of which will be paid within 2 months d. Accounts receivable totaling $12,000, including an account for $8,000 that will be paid in 2 months and an account for $4,000 that will be pa in 18 months e. Construction supplies costing $8,800, all of which will be used in construction within the next 12 months f. Construction equipment costing $60,000, on which depreciation of $22,400 has accumulated g. A note payable to the bank in the amount of $7,600 is to be paid within the next year Required: 1. Calculate the amounts of current assets and current liabilities reported on Hanson's balance sheet at December 31, 2019.provide correct answer of this General accounting questionA company grants a payment extension to its customer by converting that $15,000 accounts payable to a 45 day note payable at 12% interest on December 1. If the company's fiscal year end is December 31, how much interest should the company accrue at year-end? O $300 O $150 O $37.50 O $25

