If cash is borrowed on a $50,000, 6-month, 12% note on September 1, how much interest expense would be incurred by December 31?
Q: Crish Industries makes heavy construction equipment. The standard for a particular crane calls for…
A: Explanation of Labor Efficiency Variance:Labor Efficiency Variance measures the efficiency of labor…
Q: I need this question answer general accounting question
A: Step 1: Define High-Low MethodThe high-low method is a method to analyze mixed costs. This method…
Q: Need help with this general accounting question
A: Step 1: Define PerpetuityA perpetuity will distribute a series of constant payments to an investor…
Q: Can you please give me correct answer the financial accounting question?
A: Step 1: Define Capital Asset Pricing Model (CAPM)The CAPM equation is used to ascertain the rate of…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Cost of Raw Materials UsedThe Cost of Raw Materials Used refers to the total…
Q: What is the amount of net income for the year?
A: Step 1: Define Income StatementIt is one of the financial statements that determine the profit or…
Q: Your company csus inc. is considering
A: The question requires the determination of the cash flows for year 4.Cash flow is the movement of…
Q: none
A: Explanation of Contribution Margin:The contribution margin is the amount remaining from sales…
Q: compute the inventory valuation that should be reported for each product on December 31, 2014.
A: Inventory Valuation Using Lower-of-Cost-or-Market (LCM)Gwynn Company applies the…
Q: Carla Vista Mortgage Company uses a process costing system to accumulate costs in its loan…
A: (a) Equivalent Units of Production (EUP)Direct Materials:Applications completed during September =…
Q: Today's dollars, assuming of 3 percent?
A: To calculate the present value (PV) of the scholarship, we use the Present Value…
Q: Financial Accounting Question
A: Step 1: Identify the formula:• COGS = Beginning Inventory + Purchases + Freight-in - Ending…
Q: What is it's level of inventory on this accounting question?
A: Step 1: Information givenCurrent assets = $15,500,000Current liabilities = $7,200,000Quick ratio =…
Q: Financial Accounting Question need answer please
A: Step 1: Define Real Risk-free RateThe real risk-free interest rate refers to the anticipated…
Q: During April, the first production department of a process manufacturing system completed its work…
A: Step 1: Information RecapUnits:Units Transferred Out: 350,000Units in Beginning Work in Process…
Q: Provide correct answer general accounting
A: Step 1: Define Static CostsStatic costs are the expenses that will remain as is even if there is a…
Q: Which of the following is NOT a current asset? a) Cash b) Accounts Receivable c) Inventory d) Land
A: Concept of Current AssetsCurrent assets are short-term resources expected to be converted into cash,…
Q: Please given correct answer general accounting
A: Step 1: Define Applied Manufacturing OverheadApplied overhead refers to the fixed amount charged to…
Q: Describe the cost of a startup Accounting Firm's capital assets, such as production lines, office…
A: The cost of capital assets for a startup accounting firm can vary greatly depending on the size and…
Q: ??
A: Explanation of Accrual Basis Accounting: Accrual basis accounting is a method where revenues are…
Q: solution want this general account query
A: To determine the inventory value of Wildhorse Company under the lower-of-cost-or-market (LCM) rule…
Q: Calculate the average unit cost.
A: To calculate the average unit cost, we use the weighted average cost method, which combines the cost…
Q: What would have been the amount of actual overhead on these general accounting question?
A: Step 1: Define Under applied OverheadUnder applied Overhead occurs when the actual manufacturing…
Q: A firm, which sells widgets, has annual fixed costs of $16,000,000. Each widget sells for $13 and…
A: The question requires the determination of the number of units to sell to have a desired…
Q: I need answer of this question
A: To calculate the tax consequences of Bonnie's ownership and sale of the bonds, we need to consider…
Q: Correct Answer
A: Step 1:Activity based costing Activity based costing is a costing method that identifies activities…
Q: Molina Corp. began the period with no units in process or in finished goods inventory. During the…
A: 1. Problem OverviewMolina Corp. started 96,000 units during the period, completed 80,000 units, and…
Q: What is the corporation's taxable income?
A: Detailed Calculation of Taxable Income for Warner CorporationTo calculate the taxable income, we…
Q: A company began the year with total liabilities of $159,000 and stockholders equity of $42,000.…
A: Explanation of Total Liabilities: Total liabilities represent all debts and obligations that a…
Q: Valley corporation aquired solution general accounting question
A: Step 1: Definition of Warehouse CostThe cost of acquiring an asset, such as a warehouse, is recorded…
Q: both answer needed in this general account query
A: To calculate the lower-of-cost-or-market (LCM) for inventory, we'll apply the rule to both…
Q: Chang Company uses a standard costing system. In August, 7,960 actual labor hours were worked at a…
A: Step 1: Given informationStandard Hours = 6,350Actual Rate = $17.55Standard Rate = $15.45Actual…
Q: Need help
A: Step 1: Define Total Asset TurnoverTotal Asset Turnover is a financial efficiency ratio that…
Q: SLR Corporation has 1,000 units of each of its two products in its year- end inventory. Per unit…
A: To solve this problem, the inventory valuation follows the "lower of cost and net realizable value…
Q: Please solve this question general accounting
A: Net income is the bottom-line profit a company earns during a specific period. It is calculated…
Q: Net income for 2015 is ?
A: Step 1: Define Net IncomeNet income is the residual amount after deducting the costs of goods sold,…
Q: provide cost account ans
A: Step 1: Understand Variable CostingUnder variable costing, only variable production costs are…
Q: How much overhead is applied to work in process?
A: Step 1: Define Applied OverheadAccountants estimate applied overhead to prepare businesses regarding…
Q: ABC Company produces a single product. Operating data for the company and its absorption costing…
A: To prepare an income statement using variable costing, we only include variable production costs in…
Q: Financial Account
A: Explanation:"Money damages from a personal injury lawsuit" are generally not taxable if they are…
Q: At the beginning of the year, Rose Company expected to incur $65,000 of overhead costs in producing…
A: Concept of Overhead CostOverhead costs refer to expenses that are not directly tied to the…
Q: Your firm has an average collection period of 27 days. The current practice is to factor all…
A: Step 1: Formula for Effective Cost of Borrowing The effective cost of borrowing (ECB) can be…
Q: 3 POINTS
A: Step 1: Total fair market values (FMV) of each type of stock.common stock = issued shares x FMV per…
Q: Your firm has an average collection period of 27 days. The current practice is to factor all…
A: The effective cost of borrowing for factoring receivables can be calculated using the formula for…
Q: Optix Camera Shop uses the lower-of-cost-or-market value for its inventory. The following data are…
A: Lower-of-Cost-or-Market (LCM) Inventory ValuationOptix Camera Shop uses the Lower-of-Cost-or-Market…
Q: What was the net income for the year? General accounting
A: Step 1: Define Net IncomeThe net income is the residual revenue left with the business after the…
Q: Please answer the following requirements on these general accounting question
A: Step 1: Definition of Receivable Turnover and Average Collection PeriodReceivable Turnover: It…
Q: A business operates at 100% of capacity during its first month and incurs the following costs:…
A: To calculate the inventory value under variable costing, only variable production costs are included…
Q: Need answer the general accounting question please solve
A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a financial metric used to…
Q: Please give me answer general accounting question
A: Step 1: Define Margin AccountA margin account can be treated as a financing option for an investor…
Please given correct answer general accounting
Step by step
Solved in 2 steps
- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Simple Interest: A $45,000 loan at 3.75% dated June 10 is due to be paid on October 11. Using ordinary interest, what is the amount of interest?Assuming a 360-day year, when a $11,392, 90-day, 10% interest-bearing note payable matures, total payment will be a. $11,677 Ob. $12,531 Oc. $1,139 Od. $285 That's Built PlueA
- What is the maturity value of the note on these financial accounting question?What will be the total interest earned on a 6%, $2,000 note receivable that is due in nine months?Assuming a 360-day year, when a $11,200, 90-day, 5% interest-bearing note payable matures, the total payment will be Oa. $560 Ob. $140 Oc. $11,760 Od. $11,340 0 0 0 0
- Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?Accounting for Current Liabilities A note payable is issued for a face value of $100,000. The interest is 8% and the note is for 12 months. What is the cash flow impact to the issuer at the maturity of the note payable?How many months will it take to pay off a credit card debt of $4,000 by paying $250 per month at an annual interest rate of 2%? O A. 15.1 B. 16.2 OC. 17.8 O D. 12.7
- Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % %Cash is borrowed on a 2-month note payable. If the interest cost to borrow is RO 400 what is the actual interest rate on this note? a. 12.00% b. 10.00% c. 20.00% d. 22.50%
