Record the interest accrued on 60,000 notes payable and 30,000 notes payable for the month of February. The interest rate is 10%.
Q: Lodi Company is authorized to issue 100,000 shares of no-par, $6 stated-value common stock and…
A: Note:The market value of common stock is used for transaction 3 since it's relevant for the…
Q: Oahu Inc. is considering an investment in new equipment that will be used to manufacture a…
A: The objective of this question is to calculate the average rate of return on the equipment that Oahu…
Q: [The following information applies to the questions displayed below] Melissa recently paid $695 for…
A: Step 1:To determine the amount of the total costs Melissa can deduct as business expenses, we need…
Q: 3. You have worked with your client and put together an investment portfolio based on the client's…
A: Part 2: Explanation:1. Expected Return for Each Stock (E(Ri)) Calculation: - To calculate the…
Q: The following data are accumulated by Waiola Company in evaluating the purchase of $118,000 of…
A: The objective of the question is to calculate the net present value (NPV) of the proposal for the…
Q: Ashvin
A: Approach to solving the question: Here's the approach to solving the questions: 1. Internal Rate of…
Q: Journalize the entries for January 22 and February 27. If an amount box does not require an entry,…
A: Journalizing Stock Issuance and Calculating Paid-in CapitalThis explanation will guide you through…
Q: please fill out the table
A: The analysis for Stone Incorporated's first production department is correct. Here's a breakdown of…
Q: Kunkel Company is considering the purchase of a $23,000 machine that would reduce operating costs by…
A: Step 1:present value of annual cost saving = annual cost saving x discount…
Q: provide answer as per info
A: Income Statement:Net Sales (NS): Given as Net Sales = Cost of Goods Sold (COGS) + Gross MarginGiven…
Q: Vinubhai
A: Approach to solving the question: Detailed explanation:a. Price Variance for Direct Materials: This…
Q: Ashvin
A: Approach to solving the question: To solve the question of recording the payment on account for…
Q: Meman
A: The direct method of cash flow reporting requires adjusting the net income to arrive at the net cash…
Q: Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD…
A: Here's the information you can find from the image to solve the questions:Owners' equity 2020: Not…
Q: please answer in text with introduction , concept ,explanation , computation , steps for each part…
A:
Q: Riesemberg Medical Devices is allocating next year's budget among its divisions. As a result, the…
A: Hi Student, I hope I understand your needs. If you have any questions or need additional assistance,…
Q: Provide Answer with calculation
A: Step 1: As per given data, the total Assets for the year ended December 31, 2011 are calculated as…
Q: Need Answer
A: Answer : 1 Step 1: Meaning of the Discounted Payback Period:Discounted payback period is a capital…
Q: Coronado Mining Company declared, on April 20, a dividend of $593,000 payable on June 1. Of this…
A: DateAccount titles and ExplanationDebitCreditApr.20Retained Earnings474000 Additional Paid-in…
Q: None
A: Step 1: Total fair value Total fair value = Fair value of the building + Fair value of the…
Q: Sky airlines produces two different aircrafts. The joint process incurs costs of $10 million. Both…
A: Explanation/solution: Allocation of joint costProductproportion and allocationAllocated joint…
Q: Less: Cost of goods sold Gross margin Less: Operating expenses (includes $8,550 depreciation and…
A: To compute the net cash flow from operating activities using the direct method, we need to adjust…
Q: Give me step by step solution and explanation.
A: The objective of this question is to calculate the basic and diluted earnings per share (EPS) for…
Q: Assume that ayisiyiniwiwinak Corp. paid $19 million to purchase 10-Trees Inc. Below is a summary of…
A: To find the goodwill resulting from the transaction, we need to compare the purchase price paid by…
Q: Give me correct answer and explanation.vi
A: The objective of the question is to determine the acquisition cost of the machinery purchased by…
Q: On December 31, 2023, Berclair Incorporated had 220 million shares of common stock and 4 million…
A: To compute Berclair's basic and diluted earnings per share for the year ended December 31, 2024, I…
Q: Question: Inspirational Inc. is a motivational consulting business. At the end of its accounting…
A: To calculate the stockholders' equity of Inspirational Inc., we can leverage the fundamental…
Q: Evaluate the integral. Check your answer by differentiating. (Remember the constant of integration.)…
A: To evaluate the integral ∫(16−8x+21x6)dx , we can use the power rule for integration:…
Q: Required information [The following information applies to the questions displayed below.] Amy and…
A: Step 1:Calculate the amount of gain or loss and tax amount: Cash Paid A$546,100Liabilities assumed…
Q: Several years ago, Cyclop Company issued bonds with a face value of $1,000,000 for $1,145,000. As a…
A: Hope you find your answer .If any query , then raise it , query will be solved .Rate this…
Q: On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 210,000 shares of no-par common…
A: a. Journal Entries:May 15Date Account Debit CreditMay 15 Cash $2,520,000 Common Stock ($3 x 210,000…
Q: Pam Corporation holds 70 percent ownership of Spray Enterprises. On December 31, 20X6, Spray paid…
A: Reference; Baydoun, N., Sulaiman, M., Willett, R. J., & Ibrahim, S. (2018). Principles of…
Q: Please check the answer and add explanation properly at every steps and solve steps wise Compute…
A: We can compute the missing amounts by using the simple interest formula:* I = PRT / 100Where: * I is…
Q: Answer in proper explanation
A: Our simple approach to this problem is to make a reversal entry. As the name implies, we will simply…
Q: At December 31, 2024, the balance sheet of Darwin Corporation included 8 million common shares and 4…
A: Common shares at the beginning = 8 million.A stock split has been made in the current year at the…
Q: The Nile Corporation has 9.9 million shares of common stock outstanding and 430,000 6 percent…
A: a.. Market shares= shares of common stock x per share=9,900,000 x 47=465,300,000Mark value debt= 6%…
Q: 1. Michael Brown contributed his motor vehicle to the firm. Original cost: $13000. Current market…
A: Through the creation of precise transactions in Xero, you will be able to correctly document Michael…
Q: what is the nature of research and development cost?
A: A company or organization's expenditures for innovation, development, and enhancement of goods,…
Q: Vishnu
A: Approach to solving the question: Detailed explanation:When stock options expire without being…
Q: Use the rules of exponents to simplify so that only positive exponents remain. (Simplify your answer…
A:
Q: The balance sheet for the company at December 31, 2015, indicated that total assets were $173,000,…
A: Let's delve deeper into each step with more detailed explanations and relevant examples:1. Changes…
Q: (a) A company manufactures a single product which has variable cost of £40 per unit. The…
A: Detailed explanation:Breakeven point is when there is no profit and no loss, when sales is equal to…
Q: I. On November 1, 20X3, your calendar year company receives $40,000 for space it is subletting for 5…
A: Step 1: Introduction to journal entryAdjusting entries are accounting entries that are made at the…
Q: Comparative balance sheets for 2024 and 2023, a statement of income for 2024, and additional…
A: Red, Incorporated's Statement of Cash Flows (Indirect Method) for the Year Ended December 31, 2024…
Q: Cane Company manufactures two products called Alpha and Beta that sell for $225 and $175,…
A: DetailsAlphaBetaSelling price$225$175Less: Variable cost: Direct materials($42)($24)Direct…
Q: Answer in all option
A: Option 1: This option is incorrect because nominal accounts relate to revenues and expenses. The…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: Step 1: Calculation of the cost of land.Purchase Price of Land$320,000Add : Demolition of Old…
Q: Karina will make 4,000 jackets with standard quantity of leather per jacket of 120.03 square inches…
A: Step 1: Direct labor rate variance Actual hours worked = 1.06 hours x 4,000 jackets Actual hours…
Q: Manji
A: We must compute the bond's present value using the effective-interest amortization technique in…
Q: Partner Q of the QBT Partnership died during the year and Q's interest was inherited by her spouse,…
A: Ted's foundation inside the inherited partnership hobby is the honest marketplace fee of Q's…
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly


Step by step
Solved in 2 steps

- Financial accountingA 120-day, 10% interest-bearing note receivable is sold to a bank with recourseafter being held for 60 days. The proceeds are calculated using an 8% interest rate. In this situation,what happened to the notes receivable?Calculate the missing amount for each of the following notes receivable.Face Value Annual Interest Rate Fraction of the Year Interest $11,000 6% 4 months (a) $30,000 5% (b) $1,500 $35,000 (c) 6 months $1,225 (d) 8% 6 months $ 700
- Assuming a 360-day year, the interest charged by the bank, at the rate of 12%, on a 90-day, discounted note payable of $106,824 is:Calculate the missing amount for each of the following notes receivable. Face Value Annual Interest Rate Fraction of the Year Interest $10,700 6 % 4 months $27,000 5 % months $450 $32,000 % 6 months $640 10 % 6 months $670A 60-day, 9% note for $10,000, dated May 1, is received from a customer on account. Use 30 day months and 360 day years in calculations of interest. The maturity value of the note is:
- 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?A loan of $12,068 was repaid at the end of 16 months. What size repayment check (principal and interest) was written, if a 10.7% annual rate of interest was charged? The amount of the repayment check was (Round to two decimal places)A nine months, 15% note for $9000 dated April 15 is reciebed for a customer. The maturity value of the note is what?
- Ramos Company has a 90-day note that carries an annual interest rate of 8%. If the amount of the total interest on the note is equal to $700, what is the note's principal? a. $8,750 b. $35,000 c. $50,400 d. $22,400On the June 12 interest payment date, the outstanding balance on Delta Nurseries’ revolving loan was $65,000. The floating interest rate on the loan stood at 6.25% on June 12, but rose to 6.5% on July 3, and to 7% on July 29. If Delta made principal payments of $10,000 on June 30 and July 31, what were the interest charges to its bank account on July 12 and August 12? Present a repayment schedule supporting the calculations. (Round your final answers to 2 decimal places.) Date Number of days Interest rate (%) Interest ($) Accrued interest ($) Payment (Advance) ($) Principal portion ($) Balance ($) 12-Jun -- -- -- -- -- 65,000 30-Jun 18 6.25 10,000.00 10,000 55,000 3-Jul 3 6.25 55,000 12-Jul 9 6.50 55,000 29-Jul 17 6.50 55,000 31-Jul 2 7.00 10,000.00 10,000 45,000 12-Aug 12 7.00 45,000A company's accounts receivable shows $180,000 at year-end. If their average collection period is 45 days (using 360-day year), calculate their annual credit sales.

