1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ololo11 [35]
2 years ago
9

On december 1 victoria company signed a 90 day 4% note payable with a face value of 15,000 what amount of interest expense is ac

crued at december 31 on the note?
Business
1 answer:
xz_007 [3.2K]2 years ago
4 0

Interest Expense

The cost of borrowing money is referred to as interest expenditure. Interest expenditure in the income statement might represent the cost of borrowing money from banks, bond investors, and other sources.

Main Content

$50

A note payable is a type of financial instrument. In this case, the note payable is due in three months. So, after one month, we will record the following interest on the note payable:

15000*4%*(3/12) = 150

For 1 month = 150/3  =  50

The note payable was sold on December 1, and we must calculate its interest on December 31, which is one month later. As a result, we will divide total interest 150 by 3. This will provide us with one month's interest.

To learn more about Interest Expense

brainly.com/question/10339173

#SPJ4

You might be interested in
Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life
Andrew [12]

Explanation:

The computation is shown below:

Year            Depreciation                Book value

0                                                      $1,200,000

1                   $125,000                    $1,075,000

2                  $125,000                    $950,000

3                  $125,000                    $825,000

4                  $125,000                    $700,000

5                  $125,000                    $575,000

6                  $125,000                    $450,000

7                  $125,000                     $325,000

8                  $125,000                     $200,000

The depreciation expense is

= ($1,200,000 - $200,000) ÷ (8 years)

= $125,000

4 0
3 years ago
The market mechanism benefits society by ensuring that ________.
Ray Of Light [21]
The market mechanism benefits society by ensuring that: <span>scarce resources are channeled into products most desired by society
Market mechanism determines which products stays or go by relying purely on the force of supply and demand. If the products are desired by the customers, the producer will always keep up with the demand in order to rake in the potential profit.</span>
8 0
3 years ago
Read 2 more answers
Rochelle, the CEO of a Fortune 500 company, met with business leaders fromthe local community. Afterwards, she spent time inform
snow_lady [41]

Option D

leadership figurehead managerial role was Rochelle playing

<u>Explanation:</u>

Figurehead belongs to a character with meaningless leadership of industry but no exact power. The word figurehead is a personality with the trappings of control but not its practice.

Figurehead – As an administrator, have convivial, ritual and constitutional duties. That personality is presumed to be an origin of notion. Characters view to that one as a character with power, and as a figurehead. Figureheads steward their trios. If one requires to change or create trust in this section, begin with perception, performance, and reliability.

7 0
3 years ago
Eric works at an electronics store in a mall. Eric doesn't like to work hard, and it costs him $100 to do so. Eric's employer ca
SCORPION-xisa [38]

Answer: work hard; $65; less; $85

Explanation:

The following can be deduced from the question:

The Expected profit from working hard will be:

= (90% × $200) + (10% × $50)

= (0.9 × $200) + (0.1 × $50)

= $180 + $5

= $185

Then, the profit will be the difference between revenue and coat which will be:

= $185 - $100

= $85

Then, the expected profit from shirking will be:

= (90% × $50) + (10% × $200)

= (0.90 × $50) + (0.10 × $200)

= $45 + $20

= $65

Then, the profit will be:

= $65 - $0

= $65

Eric will (work hard) because the net gain of ($65) from shirking is (less) than the net gain of ($85) from working hard.

7 0
2 years ago
_____ gives the property owner an allowance for the decline in the physical condition of real estate over time.
Over [174]

Depreciation gives the property owner an allowance for the decline in the physical condition of real estate over time., the actual decline in an asset's fair value, such as the annual decline in value of factory equipment due to use and wear, and second, the allocation in accounting statements of the asset's original cost to periods during which the asset is used.

Depreciation in accounting refers to two different aspects of the same idea: first Depreciation is the process of reallocating, or "writing down," the cost of a tangible item (such as equipment) over the course of that asset's useful life.

To learn more about Depreciation, click here.

brainly.com/question/15085226

#SPJ4

6 0
1 year ago
Other questions:
  • Which of the following is a drawback of virtual teams?a. They are highly rigid because of organizationally dispersed team member
    9·2 answers
  • Jack receives a check from Kappa Company and indorses it "without recourse." This indorsement is:______.a. a blank indorsement.
    7·1 answer
  • During the year, a firm purchased $256,900 of merchandise and paid freight charges of $36,870. If the total purchases returns an
    13·1 answer
  • What is the stock price per share for a stock that has a required return of 12%, an expected annual dividend of $3.15 per share
    11·1 answer
  • What was the idea that african-americans should celebrate their african roots and remain separate from white society?
    14·1 answer
  • Industrial tools owes you $38,600. this amount is seriously delinquent so you have offered to accept weekly payments for one yea
    14·1 answer
  • Increased government debt can lead to higher interest rates​ and, as a​ result, crowding out of private investment spending. In
    10·1 answer
  • You are looking at three different job options, one in Pennsylvania, one in Texas, and one in New York. The offers are as follow
    9·1 answer
  • Adamson Corporation is considering four average-risk projects with the following costs and rates of return:
    15·1 answer
  • Eric and Chris run a non-regulated natural monopoly producing electricity for a small town. The barrier most likely preventing o
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!