Reynolds Corp has beginning long-term debt of $85,000. During the year, the company made total payments of $24,500, which included $6,500 of interest. The company also took out an additional loan of $15,000. Calculate the ending long-term debt. a. $75,500 b. $76,000 c. $82,000 d. $94,000

14. Gingerbread Corp was issued a $220,000 loan at 6%. The amortization schedule created by the company accountant is presented below.   How much interest will Gingerbread Corp record in interest expense over a period of 6 years?

On January 1, Year 1, Mahoney Company borrowed $172,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $43,079. What is the amount of principal repayment included in the payment made on December 31, Year 1? Multiple Choice O OOO $29,319 $37,559 $13,760 $40,825

In the past year, Blossom Corporation reported assets of $230229000. Liabilities reported on the balance sheet on the same date were reported at $69091655. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $5008000. What is the company's debt to asset ratio after the refinance? O 29.37% 31.50% 32.18% O 30.01%

Gingerbread Corp was issued a $250,000 loan at 8% with a five year maturity date. The partial amortization schedule prepared by the company accountant is presented below.    What will the company record for interest expense in period 4? (round decimal up to the nearest whole $) Interest expense in period four ?

On January 1, Year 1, Mahoney Company borrowed $168,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $42.077, What is the amount of principal repayment included in the payment made on December 31, Year 1? Multiple Choice Ο Ο Ο Ο $13,440 $37.467 $40,725 $28,637

Harrison Corporation borrowed $39,000 from F&M Bank on June 1 of the current year. The bank required 8% interest. Interest will be paid when the nine-month note becomes due. What is the interest expense for the subsequent year in which the note is due and paid? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) ○ A. $1,560 OB. $1,820 OC. $520 OD. $2,340

Crafty Inc. borrowed $10,000 with a five-year 11.26% annual interest rate on 10/1/20X1. On their year-end financial statements dated 12/31/20X1, what amount should be reflected for interest expense? Input your response rounded to a whole number, without commas and without dollar signs. Your Answer: Answer

On November 1, Year 1. Noble Co. borrowed $72,000 from South Bank and signed an 11%, six-month note payable, all due at maturity. The interest on this loan is stated separately. On December 31, Year 1. Noble Co.'s overall liability for this loan amounts to: a. $72,000 b. $73,320 c. $74,640 d. $75,960

A company issues $12 million in term bonds on March 1, Year One, for face value. The bonds pay a stated cash interest rate of 10 percent per year. Interest payments are made every February 28 and August 31. On financial statements for Year One, what is recognized as interest expense on the income statements?     Responses $12,000,000 $300,000 $1,200,000 $1,000,000