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alex41 [277]
3 years ago
14

On November 1, 2021, NoleCo signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six

months later on May 1, 2022. NoleCo records the appropriate adjusting entry for the note on December 31, 2021. In recording the payment of the note plus accrued interest at maturity on May 1, 2022, NoleCo would:
Business
1 answer:
frozen [14]3 years ago
6 0

Answer:

amount of cash needed to pay back the note payable plus any accrued interest on May 1, 2022 is $103000

Explanation:

Accrued interest is the interest that have been gained by a company but have not been paid as of the date the balance sheet was entered, this is usually reported in account Interest Payable. Notes Payable is shows the amount of principal owed as of when the balance sheet entry was recorded while the Interest Payable shows the amount of interest that a company owes as of the balance sheet date.

Given that the number of months n = 6 months = 6 / 12 years.

amount of cash  needed to pay back the note payable plus any accrued interest on May 1, 2022 = $100000 + ($100000 × 6% × 6/12 year) = $103000

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11547 lb

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3 0
3 years ago
Technological disruption: a. mostly affects the new entrants. b. is a problem primarily in embryonic industries. c. is typically
8_murik_8 [283]

Answer:

d. compels firms to adopt new business models    

Explanation:

A disruption is termed as something that adversely affects or hampers or halts growth or operation of something.

Technological disruption in an organizational context means, technological up-gradation owing to which those who possess such a technology thrive, while those who do not, are adversely affected momentarily.

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Bruno's is considering changing from its current all-equity capital structure to 30 percent debt. There are currently 7,500 shar
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E. $1,016

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4 0
2 years ago
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