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SCORPION-xisa [38]
3 years ago
9

Interest on a Note Payable is most appropriately accrued:_____________

Business
1 answer:
Thepotemich [5.8K]3 years ago
8 0

Answer: Interest on a Note Payable is most appropriately accrued: "B. as of the end of each accounting period during which the note is a liability.".

Explanation: As long as the Note Payable remains a liability and has not yet reached its due date, according to the accrual principle, at the end of each accounting period the accrued interest must be recognized, and when the Note payable reaches its expiration it must remain with balance 0 the interest not accrued account.

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On December 31, 2016 before adjusting entries, Accounts Receivable for Nickolas Company had a debit balance of $200,000, and the
Karo-lina-s [1.5K]

Answer:

b. The balance of the Allowance for Doubtful Accounts will be $22,000 after adjustment.

Explanation:

If credit losses are estimated at 1% of credit sales than balance of allowance for doubtful account after adjustment will be = $6,000 + $1,600,000 * 1%

= $6,000 + $16,000

= $22,000

4 0
3 years ago
Which activity is not allowed in a 3 compartment sink
ryzh [129]

Three compartment sinks are used commercially by hotels or restaurants.

Each compartment in the sink is used for separate purpose.

First compartment is used for Washing the dishes, second one is used to rinse the dishes and the third one is used to sanitize the washers' hands.

The activities that are not allowed in these compartment are washing of cleaning clothes, washing of meat or vegetables, hand washing, throwing of wastes etc

5 0
3 years ago
Read 2 more answers
A company had inventory on November 1 of 5 units at a cost of $19 each. On November 2, they purchased 10 units at $21 each. On N
nydimaria [60]

Answer:

The answer is $221

Explanation:

LIFO means Last in First out i.e the inventory that was bought last will be sold out first.

Opening balance:

November 1: 5 units at $19 each

Purchased:

November 2: 10 units at $21 each

Purchased:

November 6: 6 units at $24 each

Sold:

November 8: 10 units at $54 each

Total number of units bought plus Beginning inventory = 5 + 10 + 6 = 21 units

Therefore, number of units remaining at November 8 after sales is 21 - 10

=11 units.

So according to LIFO, we have:

6 units at $21 = $126

5units at $19 = $95

$95 + $126

=$221

7 0
3 years ago
If a egg need 5 mins to cook how many mins 7 eggs need to cook
denis23 [38]

35 its just 5 x 7 you multiply the number of eggs by how many minutes.

6 0
3 years ago
The _____ is the product of the percent complete and the sum of the estimated costs of all the specific activities that make up
____ [38]

The answer is the total budget cost. It is the one responsible of the expense that the company needs and the estimated expense that they had used that may be of use as their basis and for the their future  period.


7 0
3 years ago
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