Answer:
8983
Explanation:
Total Premium (934609-850000) 84609
Divide: Periods total 12
Premium amortized each period 7050.75
Interest expense for Nov21 (Two months)
Cash Interest payable (850000*8%*2/12) 11333.33
Less: Premium amortized (7050.75*2/6) 2350.25
Interest expense for year ending 30.11.21 8983.08
Total Premium (934609-850000) 84609
Divide: Periods total 12
Premium amortized each period 7050.75
Interest expense for Nov21 (Two months)
Cash Interest payable (850000*8%*2/12) 11333.33
Less: Premium amortized (7050.75*2/6) 2350.25
Interest expense for year ending 30.11.21 8983.08
Answer is $8983
The answer is true because a balance sheet is basically a sheet of paper with the transactions and what not of money.
I would say the answer is true!
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Answer:
The accounts receivables turnover ratio is 12.5 times.
Explanation:
The accounts receivable turnover ratio is a measure to check the efficiency of the business in collecting its average accounts receivables during the year. It is calculated as follow,
Accounts receivables turnover = Net Sales / Average accounts receivables
Where,
Average accounts receivables = (Opening accounts receivables + Closing accounts receivables) / 2
The average accounts receivables = (135800 + 144800) / 2 = $140300
The accounts receivables turnover = 1753750 / 140300 = 12.5 times
