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
belka [17]
4 years ago
7

QS 9-4 Interest-bearing note transactions LO P1 On November 7, 2017, Mura Company borrows $190,000 cash by signing a 90-day, 12%

note payable with a face value of $190,000. (Use 360 days a year. Do not round your intermediate calculations.) 1. Compute the accrued interest payable on December 31, 2017.
Business
1 answer:
san4es73 [151]4 years ago
3 0

Answer:

The accrued interest payable  on December 31, 2017 is $15,453.33.

Explanation:

When Mura Company signs a 90-day, 12% note payable the entries are as follows :

Cash $190,000 (debit)

Note Payable $190,000 (credit)

On December 31, 2017 when Interest acrues on the loan the entries are as follows :

<em>Note : Two months interest or 61 days interest would have expired</em>

Interest Expense $15,453.33 (debit)

Note Payable $15,453.33 (credit)

Interest expense = $190,000 × 12% × 61/90

                            = $15,453.33

Conclusion :

The accrued interest payable  on December 31, 2017 is $15,453.33.

You might be interested in
An unfavorable materials quantity variance indicates that:.
skelet666 [1.2K]

An unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

<h3>What do you mean by material quantity variance?</h3>

The material quantity variance refers to the difference between the standard amount and the actual amount of materials used in the production process.

The material quantity variance yield unusual results as it is based on a standard unit quantity that is not even close to the actual usage.

Therefore, an unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

Learn more about Material Quantity variance here:

brainly.com/question/15082996

#SPJ1

3 0
2 years ago
How does a company build its strategic management game plan to attract and please customers, compete successfully, conduct opera
klio [65]

Explanation:

It is necessary for companies to develop a strategic business plan, which contains the action plans necessary for an organization to achieve its objectives and goals.

The organization's strategic planning will comprise long-term objectives, including the company's guidelines, its mission, vision and values, the analysis of internal and external environments, and action plans, which will help the company to be well positioned, profitable and competitive in the market.

4 0
3 years ago
As a result of cash flow shortages, Washington Department Stores has fallen behind in payments to suppliers. Some suppliers are
xenn [34]

Answer:

The correct answer is letter "D": short-term financing.

Explanation:

Short-term financing allows companies to obtain capital for their <em>day-to-day operations</em>. The funds obtained are typically used for the transactions companies require during one period -one year, but the term for payment tends to be within six (6) to twenty-four (24) months. Under this scenario, the main purpose of firms is to keep their businesses up and running and obtain profits enough for the payment of the loan and reinvestment in the company.

7 0
3 years ago
In order for money to work properly, there can be only a certain amount of it in
tino4ka555 [31]
A.limited supply hope that helps
8 0
3 years ago
Net interest margin—often referred to as spread—is the difference between the rate banks pay on deposits and the rate they charg
Minchanka [31]

Answer:

(a) P(X\:>\:5.40)=0.9938

(b) P(X\:

(c) X=4.975 percent

Explanation:

(a) Find the z-value that corresponds to 5.40 percent

.Z=\frac{X-\mu}{\sigma}

Z=\frac{5.40-4.15}{0.5}

Z=\frac{1.25}{0.5}=2.5

Hence the net interest margin of 5.40 percent is 2.5 standard deviation above the mean.

The area to the left of 2.5 from the standard normal distribution table is 0.9938.The probability that a randomly selected U.S. bank will have a net interest margin that exceeds 5.40 percent is 1-0.9938=0.0062

(b) The z-value that corresponds to 4.40 percent is Z=\frac{4.40-4.15}{0.5}=0.5The net interest margin of 4.40 percent is 0.5 standard deviation above the mean.

Using the normal distribution table, the area under the curve to the left of 0.5 is 0.6915

Therefore the probability that a randomly selected U.S. bank will have a net interest margin less than 4.40 percent is 0.6915

(c)  The z-value that corresponds to 95% which is 1.65

We substitute the 1.65 into the formula and solve for X.1.65=\frac{X-4.15}{0.5}

1.65\times 0.5=X-4.150.825=X-4.15

0.825+4.15=X

4.975=X

A bank that wants its net interest margin to be less than the net interest margins of 95 percent of all U.S. banks should set its net interest margin to 4.975 percent.

6 0
3 years ago
Other questions:
  • The last in line for the payment of profits are the:_______ a) boundholders b) common stockholders c) preferred stockholders d)
    10·1 answer
  • Discuss the principle of Acquisitions Management thoroughly. What is the most important? What do you think will become more impo
    10·1 answer
  • In the video "chinese manufacturing for american products," mike tomberlin manufactures its cars in china. what do his partners
    15·1 answer
  • Chelsea's house is for sale, and she is selling it through a real estate agent. The house is listed, and any licensed agent may
    10·1 answer
  • Consider a competitive market served by many domestic and foreign firms. the domestic demand for these firms' product is qd = 60
    10·1 answer
  • Transactions for Ivanhoe Company for the month of June are presented below. June 1 Issues common stock to investors in exchange
    11·1 answer
  • Last month when Holiday Creations, Inc., sold 44,000 units, total sales were $302,000, total variable expenses were $232,540, an
    6·1 answer
  • 13. You have started your first job today, and you want to buy a house within 3 years. You are currently saving for the down pay
    15·1 answer
  • need asap plz!!! Questlon 5 of 10 Which statement best describes the idea of the law of supply? A . The supply of a product decr
    12·1 answer
  • The main goals of an engineering ethics class if to memorize the professional codes of ethics as formulated by professional orga
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!