Assuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be a.$13,110 b.$1,192 c.$298 d.$12,216
Q: Given the following, calculatge the state (assume 5.3%) and federal unemployment taxes that the…
A: Payroll accounting is the calculation of employee's compensation. It includes recording and…
Q: 30. Julian Tan owns a store specializing in rare trinkets which is her only source of income. She…
A: When the gross sales exceed P3000000 then the tax is payable at the regular rate. The regular rate…
Q: On June 8, Williams Company issued an $80,000, 5%, 120-day note payable to Brown Industries.…
A: maturity value of the note = issue price + Interest accrued
Q: CCC Corp. had the following long-term debt at December 31: Collateral trust bonds, having securities…
A: long term bonds are the bonds which have a maturity of more than one year and when company on…
Q: At the end of the current year, Accounts Receivable has a balance of $162,430 Allowance for Doubtful…
A: Formulas: Net realizable value of accounts receivable = Accounts Receivable - Allowance for…
Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…
A: Salaries payable is the amount of salary which is due but not yet paid.
Q: Kellman Company Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000…
A: Introduction:- Earning per share means net earnings available to common shareholders by the…
Q: make T accounts
A: T accounts are the classified accounts under which all the recorded journal entries are posted. This…
Q: an runs a successful hairdressing salon in Riccarton. The type of costs incurred in providing…
A: Direct costs are the expenses directly incurred in connection with the service provided to the…
Q: The following information is available about electricity costs for the first six months of the year.…
A: Solution... Highest point = 6,200 machine hours Total cost = $5,980 Lowest point = 2,300…
Q: te payable, bank – due June 30, 2021 1,300,000 Note payable, bank – due June 30, 2022 2,100,000…
A: The statement of comprehensive income details the revenue, income, costs, or loss of the company…
Q: 3) From company (A)'s balance sheet, the Book value of assets was 2 Million USD and liabilities was…
A: Balance sheet approch of Net worth calculation = value of total assets less value of liabilities It…
Q: Using the following information calculate the Cost of Goods Sold (COGS) and Ending Inventory (El)…
A: GIVEN Using the following information calculate the Cost of Goods Sold (COGS) and Ending Inventory…
Q: The net income reported on the income statement for the current year was $250,000. Depreciation…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: ates Form W-2 on an annual basis to let the employer kn d during the year. Form W-2 to supply…
A: The answer has been mentioned below.
Q: The Dickinson Company reported net income of $155,000 for the current year. Depreciation recorded on…
A: Solution: A cash flow statement is a financial statements that shows how changes in income and…
Q: Ltd for $80,000. During the current tax year on 10 January 2022, Greg sold these items as follows: •…
A: The net capital gain or loss is given as,
Q: Calculate his taxable income and tax liability.
A: Taxable Income is a part of the company's gross income that government subjected to the taxes. It is…
Q: gnment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false our... F…
A: Financial ratios helps to present the accounting data in a summarised and condensed form. Various…
Q: Which of the following can be income deferral transactions? I. Sale of municipal bonds II.…
A: Answer: Only statement II is correct. So, correct option is b.
Q: July 2020, Harriet sells a stamp from her stamp collection at a gain of $500. Harriet purchased the…
A: There are taxes on the capital gains that is to be paid but the tax on the capital gains depends on…
Q: Use the information in Scenario 9.15. What is the target inventory level needed to achieve a 90%…
A: A distributor of computer monitor purchases monitor from an overseas supplier. The distributor want…
Q: A company manufactures t-shirts. In January, the budgeted direct labor hours are 1,960, and the…
A: Solution: Budgeted price per T-shirt = $84,000 / 4200 = $20 Per T-shirt Actual price per T-shirt =…
Q: William, a CPA, owns a 75% interest in Burglar Concrete Company (BCC). BCC is organized as a…
A: Who is Related party? A related party is a person or an entity that is related to the reporting…
Q: Enter the following transactions of an antique shop in the accounts and extract a trial balance as…
A: Transferring Transaction to Ledger Accounts Dr. Bank Cr. Particulars Amount Particulars Amount…
Q: Fountain Ltd started a business on 1 December 2020 trading in office water coolers e month to 31…
A: For Inventory, valuation cost may be historical, current, or standard cost. historical cost shows…
Q: ZARA uses a First-In-First-Out (FIFO) perpetual inventory system and has the following purchases and…
A: In FIFO perpetual inventory method the first purchased units will be sold first. Here 22 units sold…
Q: Posters.com is a small Internet retailer of high-quality posters. The company has $810,000 in…
A: ROI is the return earned on investing in each asset of the entity. It further represents the…
Q: On January 2, 2012, Halcon Company issued 9% bonds in the amount of P8,000,000 which mature on…
A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.
Q: Under a nonqualified pension plan, I. the yearly earnings on the pension plan assets are taxable…
A: Non qualified Pension Plan are Non qualified because it does not comply with Employee Retirement…
Q: A fumiture salesperson can sell 60 pieces of fumitur miture as inventory would cost $50 over the…
A: Inventory costing, often known as inventory cost accounting, allows businesses to allocate expenses…
Q: 50000. He bought a life insurance policy and paid a premium of 50000 annually. He paid tuition fee…
A: Taxable Income is that the portion of a person’s or company’s gross income that the govt deems…
Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its…
A: Journal entry is the primary reporting of the business transactions in the books of the entity.
Q: А B $ 96.20 $ 78.00 $ 41.90 $ 43.50 $ 30.20 $ 13.90 g overhead $ 5.80 $ 4.70 r unit $ 6.50 $ 3.40 it…
A: The answer has been mentioned below.
Q: The following inventory details of LBC company Date Description Units Cost January 1,2020 Purchases…
A: The inventory can be valued using various methods as FIFO, LIFO and weighted average method. Using…
Q: During the current year, Sokowski Manufacturing earned income of $327,600 from total sales of…
A: Sales margin means profit earned from the revenue generated from the sale of the goods or services.…
Q: Funnel Manufacturing Company has provided the follwoing information: Month Budgeted Sales January $…
A: Accounts payable means accounts of those suppliers from whom credit purchases are made and amount…
Q: Your client is using advanced matching in the bank feed to find a match for a deposit that was made…
A: Option E is correct answer - Quick books online create a resolving transaction that posts to a…
Q: Fill in the blank. ______ method is a costing method which includes beginning work-in-process…
A: There are various methods for valuation of inventory in cost accounting. Mainly, inventory is found…
Q: Exercise 11-10 (Algo) Recording payroll LO P2, P3 The following monthly data are taken from Ramirez…
A: Payroll Expenses It is important for the business entity to maintain the payroll payment and its…
Q: Which of the following would be helpful suggestions by Maria? (Sele
A: Bond issue is the issue which has been made by the company to get the funds from the public and that…
Q: Do b)
A: Disposal of Asset Account Format /Template Asset Disposal Account Date Account Name Debit…
Q: Problem 3: A certain machine costs P 40,000, has a life of 4 years and salvage value of P 5,000. The…
A: Formula: Depreciation per unit = ( Asset cost - Salvage value ) / Total estimated Units. Deduction…
Q: Required information Use the following Information for the Qulck Study below. (Algo) Mami Solar…
A: Total Labor hours needed = Budgeted production units × Labor hours needed per unit = 4700×5 =23500…
Q: In December 2020, Joe's Company, engaged into a factoring armangement with Gaba's Bank (factor),…
A: The journal entries are the first step in the accounting process because a transaction is recorded…
Q: Chavez Company’s salaried employees earn four weeks’ vacation per year. Chavez estimated and must…
A: Introduction:- Journal entry is the first stage of accounting process. Which is used to record…
Q: Illustration 2. Business Combination Achieved in Stages and without transfer of consideration On…
A: Goodwill is an invaluable property acquired when one firm buys another. Goodwill is defined as the…
Q: prepare a trial balance on the sheet provided for the trial balance i included a photo the format…
A: Preparation of trial balance is the third phase in the accounting process. After posting the…
Q: Month Budgeted Sales January $ 76,000 February 85,000 March 92,000 April 79,000 Budgeted Selling and…
A: The production budgets are prepared to estimate the number of units to be purchased during the…
Q: Compare and contrast common stocks and preferred stocks
A: Stocks are securities issued by the companies to procure funds from outsiders. The two types of…
Assuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be
Trending now
This is a popular solution!
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. $2,383Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Assuming a 360-day year, when a $17,100, 90-day, 8% interest-bearing note payable matures, total payment will be Round your answer to the nearest whole dollar. a.$342 b.$17,442 c.$18,468 d.$1,368
- 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 PlueAAssuming 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 0Assuming a 360-day year, when a $12,919, 90-day, 6% interest-bearing note payable matures, total payment will amount to:
- Assuming a 360-day year, when a $14, 000, 90 - day, 12% interest - bearing note payable matures, the total payment will be a. $14, 420 b. $420 c. $1,680 d. $15, 680Assuming a 360-day year, when a $12,750, 90-day, 11% interest-bearing note payable matures, total payment will amount to: Select the correct answer. $1,403 $14,153 $13,101 $351A non-interest bearing promissory note has a face value of $950. Find the proceeds of this note if it is discounted 3½ years before its maturity date at 8% compounded quarterly. Select one: a. $719.98 b. $771.65 c. $657.22 d. $725.67
- The maturity value of a $348,000, 4%, 45-day note receivable dated July 3, assuming a 360-day year, is a.$349,740 b.$361,920 c.$348,000 d.$354,960What is the maturity value of a $30,000, 12%, six-month note?a. $28,200b. $33,600c. $30,000d. $31,800If the company accepted a Notes Receivable on Oct 1, X1 for $60,000 at 8%, due in one year, what is the Maturity value?