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
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

You might be interested in
A good file system depends on easy retrieval of information, so it is important that _______.
nataly862011 [7]

It is important that you are able to organize and classify your files so that it would be fast and simple to retrieve them when they are needed.  Classify them by topics and arranged them by date as well as by alphabetical order and create a database so that you retrieve them quickly.

8 0
3 years ago
Suppose that United States produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that Pakistan produc
Darya [45]

Answer:

1. 1,000 bushels of wheat

2.  d) A situation where one country does not engage in trade with other

Explanation:

1 & 2. Autarky refers to a situation where a country does not engage in trade with other countries but rather relies on its own production capacities to feed the consumption in the country.

Autarkies in the current world are not a thing because countries trade with each other. Even North Korea trades with Russia, China and others.

In an Autarky situation therefore, the United States would only be able to consume the wheat that it produces itself which according to the question is 1,000 bushels of wheat.

8 0
3 years ago
Read 2 more answers
The operational improvement cycle is referred to as the: a. 5S cycle b. FMEA cycle c. DMAIC cycle d. Generate - Integrate - Inte
Dimas [21]

Answer:

The operational improvement cycle is referred to as the:

c. DMAIC cycle

Explanation:

The DMAIC cycle involves continuous operational improvement.  The 'D' stands for 'to define' the process.  The 'M' stands for ' to measure' or quantify the performance process.  The 'A' stands for ' to analyze' performance to determine root causes.  The 'I' stands for 'to improve; the process.  The 'C' stands for control to achieve benefits.  These processes are the Sigma Six improvement processes that have been proven to yield improved organizational processes.

3 0
2 years ago
Which two of the three financial statements would you find Net Income on?
xxTIMURxx [149]

Answer:

C) Income Statement and Cash Flow Statement

Explanation:

The Income Statement shows a clear separate entry for the Net income which is calculated after all the deductions and additions.

Net Income is the first balance shown on the cash flow statement after which the calculations are carried out to find the flow of cash in and out of the company.

Net income is also shown in the Balance Sheet but not separately but together with retained earnings. It is added to the retained earnings and the amount is shown as a whole amount of retained earnings  or shown as a change in equity.

So best answer is C because the question asked is where would you find Net Income on?

Meaning separately. So it is separately present on Income Statement and Cash Flow Statement.

Otherwise it is present  on all three statements ( on balance sheet as part of retained earnings or equity).

6 0
3 years ago
Ke Guiwen is visiting the United States from China. As he visits several companies and talks to both workers and managers, he is
alina1380 [7]
<span>Ke Guiwen is visiting the United States from China. As he visits several companies and talks to both workers and managers, he is surprised to realize that although U.S. workers seem to have more autonomy than the employees in his company, they also tend not to work together to complete tasks.  </span>Ke Guiwen’s surprise is probably due to a communist orientation  in his culture.  
7 0
2 years ago
Other questions:
  • City Movers announced that its next annual dividend will be $.40 a share. The following dividends will be $.60, and $.75 a share
    8·1 answer
  • How do birthrates and death rates change as a country moves from a least developed or traditional economy to developing-nation s
    15·1 answer
  • The cost to manufacture one unit of Killian Audio Products' best-selling hearing aid, the Zone, is $67.50. The CFO of the compan
    7·1 answer
  • Assume that the amount that you have to actually borrow for your ski and bike rental business mentioned in the previous question
    6·1 answer
  • Mullineaux Corporation has a target capital structure of 70 percent common stock and 30 percent debt. Its costs of equity is 15
    14·1 answer
  • superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct
    8·1 answer
  • Quick Buck and Pushy Sales have agreed to each produce half the profit-maximizing monopolist quantity, set the monopoly price an
    6·1 answer
  • You purchased a stock at a price of $46.55. The stock paid a dividend of $1.79 per share and the stock price at the end of the y
    11·1 answer
  • Suppose that the equilibrium price and quantity for 1 bedroom apartments in Orange County is $2,000 and 250,000 respectively. Wh
    9·1 answer
  • A stock is expected to return 8% in a normal economy, 12% if the economy booms, and lose 3% if the economy moves into a recessio
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!