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
Contact [7]
3 years ago
14

g On July 1, Alton Co. issued an $60,500, 10%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends

July 31. Using a 360-day year in your calculations, what is the amount of interest expense recognized by Alton in the current fiscal year? When required, round your answer to the nearest dollar.
Business
1 answer:
irakobra [83]3 years ago
8 0

Answer:

The interest expense is $521  

Explanation:

The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:

interest expense=days in the month/360days*interest rate*loan amount

interest expense=31/360*10%*$60,500=$ 521  

The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521  

You might be interested in
How did the titanic sink ?
Elis [28]

The Titanic could stay afloat with four of its 16 watertight compartments flooded, more than anyone could imagine on a ship of its size.  As the ice bumped along its starboard side, it punched holes in the ship's steel plates, flooding six compartments. In a little over two hours, the Titanic filled with water and sank  Sep 25, 2008

5 0
3 years ago
Which career is likely to earn the highest salary.
julsineya [31]

Answer:

News Anchor

Explanation:

The other three profession might have salaries based on a daily wage.

7 0
3 years ago
Is god real yes or no answer
dem82 [27]
There is no factual evidence to either. Modern Christianity is based off of faith, you gotta believe he’s real. And in most other religions their god/gods are real. The only “proof” is either miracles or visions. Which in most cases can’t always be proven true. I say yes, but only because I believe he is.
5 0
3 years ago
Q 2.29: Val-Tek has current assets of $1,700,000 and current liabilities of $900,000. If they pay $100,000 owed to a creditor, w
irina1246 [14]

Answer:2 : 1

Explanation:

current ratio = current asset/current liability

If current liability was $900,000 less $100,000= $800,000

Therefore the current ratio=

$1,700,000/$800,000 =

2 : 1

3 0
3 years ago
Read 2 more answers
A company is undergoing a restructuring, and its free cash flows are expected to vary considerably during the next few years. Ho
Bumek [7]

Answer:

Value of company = $982.16

Explanation:

The free cash flow is the cash generated by a company that is not retained and reinvested. It is the cash flow available to all providers of capital . It is available to pay dividend or finance other project

The value of the company would be the present value of its free cash flow discounted at the weighted average cost of capital.

Value of company )year 4= 85/(0.12-0.065) = 1,545.45

Value of company (in year 0) = 1,545.45× 1.12^(-4)= 982.16

Value of company = $982.16 millions

7 0
3 years ago
Other questions:
  • The benefit of a subsidy will go primarily to sellers when the a. demand for the product is highly inelastic and supply is relat
    9·1 answer
  • Economists refer to the relationship that a higher price leads to a higher quantity supplied as the
    14·1 answer
  • Glossamer Inc., a company owned by George and Alex, faces huge debts and is eventually shut down due to bankruptcy. The company'
    9·1 answer
  • Account Title Debit Credit
    14·1 answer
  • Jordan wants to retire in 35 years. She wants to have $75,000 per year in retirement and she expects retirement to last for 35 y
    13·1 answer
  • County governments in Texas:a.are single-purpose governments.b.all operate under the general laws of the state of Texas for the
    14·1 answer
  • Christy works for a magazine publishing company. When pressed to meet a deadline, every employee is expected to work together to
    7·2 answers
  • To participate in conservation efforts,
    15·1 answer
  • On January 1, 2016, ABC Corporation purchased Equipment C for $72,000. Equipment C is expected to have a useful life of 8 years,
    7·1 answer
  • Two firms, Boomburgs and ABC X-Plode, both sell the same fireworks bundle. If they sell their fireworks at the manufacturer's su
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!