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
e-lub [12.9K]
1 year ago
13

On june 1, 2022, spk company signed a $100,000, one-year, 6 percent note payable. Interest and principal are due at maturity. Wh

at amount will spk record for interest expense in their december 31, 2022 adjusting entries?.
Business
1 answer:
posledela1 year ago
6 0

$3500 sum will spk record for interest expense in their december 31, 2022

Interest = $ 6000 for 12 months.

From June to December there will be 7 months due,

therefore 7/12x6000 = $ 3500

An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.

Learn more about Interest expense here

brainly.com/question/14185533

#SPJ4

You might be interested in
What role do values play in making ethical decisions?
Lubov Fominskaja [6]

Values play a central role in ethical decision making.It is because core values are so subjective, they will be relative to the individual who holds them. Not all individuals have the same core values and conflicts about them will often arise.

7 0
3 years ago
How will the rapo rate cut affect the economy?​
jeka94

Answer:

The decrease in repo rates is to aim at bringing in growth and improving economic development in the country. Consumers will borrow more from banks thus stabilizing the inflation. A decline in the repo rate can lead to the banks bringing down their lending rate

3 0
3 years ago
If the rate of inflation is 2.2% per year, the future price pt (in dollars) of a certain item can be modeled by the following ex
postnew [5]

Answer:

1693.25

Explanation:

The computation of the current price of the item and the price 9 years from today is shown below:-

p(t) = 1,200 × (1.039)^t

Now, the current price can be found by putting t = 0

p(0) is

1,200\times (1.039)^0 = $1,200

The price 10 years from today

p(9) is

1,200\times (1.039)^9

Now we will solve the above equation

= 1,200 × 1.411041958

= 1693.25035

or

= 1693.25

6 0
2 years ago
A 7-year, $1,000 par bond has an 8% annual coupon and is currently yielding 7.5%. The bond can be called in 3 years at a call pr
AVprozaik [17]

The Yield to call is 7.30%

Par value of Bond (FV) = $1,000

Annual Coupon (A) = 8%*1,000 = $80

Years until maturity = 8

Current YTM = 7.5%

We need to calculate the Current Price of Bond (PV)

PV = 80 * (P/A, 0.075, 7) + 1000 * (P/F, 0.075, 7)

PV = $1,026.48

Call Price = $1,010

Call Period = 3 years

Yield to call = ytc

1026.48 = 80* (P/A, ytc, 3) + 1010 * (P/F, ytc, 3)

Using the <em>trail and error </em>method,

Yield to call = 7.30%

In conclusion, the Yield to call is 7.30%

Read more about Yield to call

<em>brainly.com/question/25928027</em>

5 0
2 years ago
What is debit? And what is credit?​
Shtirlitz [24]
What exactly are debits and credits? In a nutshell, debits (dr) record all money that flows into an account, while credits (cr) record all money that flows out of an account.
5 0
2 years ago
Other questions:
  • Strategically , a company may phase out or sell an sbu. this is known as
    15·1 answer
  • Which form of marketing communication involves engaging directly with carefully targeted individual consumers and customer commu
    10·1 answer
  • When rebuilding a steering system, a can of bolts and nuts was somehow lost. Technician A says to simply go to the hardware stor
    12·1 answer
  • What is new marketing ?
    5·1 answer
  • What is the difference between a positive economic statement and a normative statement?
    15·1 answer
  • Henri wants customers in his specialty tobacco store to feel at home, as if they were in their personal smoking den. He uses lig
    14·1 answer
  • In order to produce a new product, a firm must lease new equipment. The managers feel that they can sell 10,000 units per year a
    6·1 answer
  • Part of establishing an audience adaptation plan is determining what you can do to make it easier for audience members to compre
    9·1 answer
  • On August 24, Edward Charles offered to sell his 1967 Chevy Corvette Convertible for $150,000 to Mark Anderson. Anderson offered
    9·1 answer
  • Jordan is considering three choices of spending the new year's eve. Option A is to dine outside at a luxury restaurant; option B
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!