Use the table below and Apple's financial statements in Appendix A to answer the following. $ millions 2022 2021 2020 Interest expense $ 2,931 $2,645 $ 2,873 Compute times interest earned for each of the three years shown.
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- Compute the amount of interest on $8350 at 6.5% p.a. from October 8, 2019, to August 4, 2020. What rate of interest is paid if the interest on a loan of $12500 is $196.06 from November 14, 2019, to May 20, 2020? Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now? What principal will earn $355.99 interest at 9.75% p.a. from February 4, 2017, to July 6, 2017? Determine the face value of a four-month promissory note dated May 20, 2018, with interest at 7.5% p.a. if the maturity value of the note is $1190.03. A Company sells locks for $10 each. Manufacturing cost is $2.60 per lock; marketing costs are $2.40 per lock; and royalty payments are 20% of the selling price. The fixed cost of preparing the lock is $18 000. Capacity is 15,000 locks. Compute the contribution…PLEASE ANSWER ASAPAt the end of 2025, the following information is available for Great Adventures. • Additional interest for five months needs to be accrued on the $31,800, 6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31. • Assume that $11,800 of the $31,800 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $26,800 during the year and recorded those as Deferred Revenue. • Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $13,800. • For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $5,800. Requirement General Journal…
- Assuming a 360-day year, when a $13,430, 90-day, 11% interest-bearing note payable matures, total payment will amount to: Select the correct answer. $14,907 $1,477 $369 $13,799Universal Travel Incorporated borrowed $518,000 on November 1, 2024, and signed a twelve-month note bearing interest at 6% Prinopal and interest are payabl amount of interest payable that should be reported by Universal Travel Incorporated on December 31, 20257 Mutiple Choice 50 $31000 $5.00 $040Equity bank grants you a loan of 49,800 on 1 january 2022 that is repayable in 5 annual payments of 13815 at an Interest rate of 12% per annum. Construct arnortization schedule using excel and calculate total interest?
- Halo Company issued a three-year note of 10% P 10,000,000 on March 31, 2025. Interest is payable annually every April 1 starting April 1, 2026. The effective interest for this type of note is 12%. How much is the interest payable on December 31, 2027?On November 30, 2018, EZ Products borrowed $48,000 on a 5%, 10-year note with annual installment payments of $4,800 plus interest due on November 30 of each succeeding year. How much interest expense should be accrued at December 31, 2018 for the period of November 30 through year-end? Select one: a. $200 b. $400 c. $2,400 d. $1,200Question 1 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. a) What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)? Select one: a. 0.076 b. 0.032 c. 0.031 d. 0.088 Question 2 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. b) What is her selling price (rounded to four decimal places)? Select one: a. 98740.2903 b. 98634.0935 c. 98846.7161 d. 99317.7280 Question 3 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest…
- 27 On June 1, 2022, Iconic Properties obtained a loan in the amount of $120,000 with an interest rate of 12%. All interest and principal are due May 31, 2023. How much interest expense will be reported on the 2022 and 2023 income statement? What is the total liability, if any, on the balance sheet as of December 31, 2022?View Policies Current Attempt in Progress Windsor Industries borrows $18800 at 8% annual interest for six months on October 1, 2022. Which is the appropriate entry to accrue interest if Windsor employs a December 31, 2022, fıscal year? O Dr Interest Expense $1504 Cr Interest Payable $1504 O Dr Interest Expense $376 Cr Interest Payable $376 O Dr Interest Expense $376 Cr Notes Payable $376 O Dr Notes Payable $1504 Cr Interest Payable $1504 Save for Later Attempts: 0 of 1 used Submit Answer