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
Debora [2.8K]
2 years ago
7

On June 1, 2013 Oakcrest Company signed a three year $110000, note payable with 9% interest. Interest is due on June 1 of each y

ear beginning in 2014. What amount of interest expense should be reported on the income statement for the year ended December 31, 2013?
Business
1 answer:
seropon [69]2 years ago
8 0

Answer:

$5,775

Explanation:

The computation of the interest payment is shown below:

= Note payable amount × rate of interest × number of months ÷ total number of months in a year

= $110,000 × 9% × 7 months ÷ 12 months

= $5,775

We simply multiplied with the note payable , interest rate, and the given number of months to find out the interest expense

And, the seven months is calculated from June 1, 2013 to December 31, 2013

You might be interested in
The best gift i ever received​
Nadusha1986 [10]

Answer:

The best gift I ever received is none other than my parents, given to me by God on my birthday. Nowadays, not every child is fortunate enough to have both parents to nurture them. As for me, I am lucky to be raised by two loving parents. They provide shelter and care so that we can live comfortably.

Explanation:

this is the correct answer you want

please follow me ☺️

8 0
3 years ago
Read 2 more answers
You put up $80 at the beginning of the year for an investment. The value of the investment grows 2% and you earn a dividend of $
Evgen [1.6K]

If the value of the investment grows 2% and you earn a dividend of $8.00. Your HPR was 12%.

<h3>HOLDING PERIOD RETURN (HPR)</h3>

Using this formula

HPR=Investment grow+(Dividend/Beginning investment)

Let plug in the formula

HPR=2% + ($8/$80)

HPR=2% +10%

HPR=12%

Therefore If the value of the investment grows 2% and you earn a dividend of $8.00. Your HPR was 12%.

Learn more about HPR here:brainly.com/question/20383546

#SPJ1

5 0
1 year ago
Dwyer Company reported the following results for the year ended December 31, 2007, its first year of operations: 2007 Income (pe
Art [367]

Answer: $315,000 deferred tax asset

Explanation:

The amount that Dwyer should record as a net deferred tax asset or liability for the year ended December 31, 2007 will be calculated thus:

= ($2400000 – $1500000) × 35%

= $900000 × 35%

= $900000 × 35/100

= $900000 × 0.35

= $315000.

Therefore, the answer is $315,000 deferred tax asset

8 0
2 years ago
Security X has an expected rate of return of 13% and a beta of 1.15. The risk-free rate is 5%, and the market expected rate of r
kondaur [170]

Answer:

B) overpriced

Explanation:

Please see attachment

8 0
2 years ago
At the price of $5 per pack of batteries, Duracell sells 10,000 packs of batteries and Energizer sells 15,000 packs of batteries
Verdich [7]

Answer:

28,000

Explanation:

To get this answer you have to assume perfect competition scenario, since in this case supply = demand. In this case:

At $7,5

Energizer sells 16,000 => Supply Energizer = 16,000

Duracell sells 12,000 => Supply Duracell = 12,000

Total Supply = 16,000+12,000

6 0
2 years ago
Other questions:
  • Tom told his son, bobby, to go out and rake leaves. bobby went outside but raked pretty slowly (one bag in 2 hours). tom told bo
    10·1 answer
  • The _____ is known as make-to-order. select one:
    9·1 answer
  • What other countries received significant monetary assistance from the marshall plan?
    15·1 answer
  • Which type of bank account is most likely to pay you interest on the money in the account?
    12·1 answer
  • Focus strategies are: a. sheltered from the risks associated with industry-wide strategies because of their niche focus. b. able
    6·2 answers
  • Equipment originally costing $65,000 has accumulated depreciation of $25,000. If the equipment is sold for $30,000, the company
    11·1 answer
  • Rather than looking for problems, ________ seeks to identify the unique qualities and special strengths of an organization, whic
    9·1 answer
  • Mayan Company had net income of $32,500. The weighted-average common shares outstanding were 10,000. The company has no preferre
    13·1 answer
  • Yuhhhhhh let’s get into it
    5·2 answers
  • Sudoku Company issues 26,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $235
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!