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1 year ago

6

8. Allen took out a three-year, 8%, $100,000 loan on March 31, 2021. Interest is due upon maturity of the loan. How much interes

t will Allen pay in 2021.

1 answer:

Oksi-84 [34.3K]1 year ago

3 0

Answer:

Debit Interest Expense and credit Interest Payable for $6,000.

Explanation:

$100,000 × 8% × 9/12 = $6,000.

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Answer:

<u>$8,768</u>

Explanation:

<em>Sales for June will be</em> = $700 x 400 + $700 x 400 x 0.03 =

=280000 + 8400 = $288400

<em>Projected selling expense</em> = $3000 + $288400 * 0.02 = $3000 + $5768

= <em><u>$8768</u></em>

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2 years ago

Tan Corporation issued $600,000,000 of 7% bonds on November 1, 2015, for $644,636,000. The bonds were dated November 1, 2015, an

jonny [76]

Answer:

Interest Expense $6,446,360

Interest Payable $7,000,000

Explanation:

Interest Expense for the year =

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$644,636,000 * 0.06 * 2/12 = $6,446,360

Interest Payable =

Face Value of the bond * Interest rate * $\frac{Remaining months in the year}{Total months in the year}$

$600,000,000 * 0.07 * 2/12 = 7,000,000

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2 years ago

what is the name for goods and services produced in one country that are then sold in other countries?

Deffense [45]

Answer:

export

Explanation:

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1 year ago

Suppose you have $10,000 in cash and you decide to borrow another $10,000 at a(n)6% interest rate to invest in the stock market.

elena-14-01-66 [18.8K]

Answer:

D)-26%

Explanation:

The computation of the realized return on your investment is shown below:

= (Rate of return × total investment) - (interest paid)

= (-10% × $20,000) - (6% × $1,000)

= (-$2000 - $600)

= -$2,600

Now the Rate of return is

=(-$2,600 ÷ $10,000)

= -26%

hence, the realized return on your investment is -26%

Therefore the correct option is D.

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2 years ago

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