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Jlenok [28]
3 years ago
5

A company has a $4,000, 270-day, 6%, note payable recorded on its books which was dated July 2, 2013. The interest expense is pa

id when the note matures. How much interest expense must be accrued on December 31, 2013, which is the end of the accounting period? Assume a 360-day year, use the exact number of days in your calculations, and round your answer to the closest penny.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
5 0

Answer:

Interest expense accured = $121.33 (

Explanation:

The exact number of days from July 2 through December 31, 2013 is 182 days.

The accrued interest  (182/360) x $4,000 x 6% = $121.33

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Shamrock Corp. has a deferred tax asset account with a balance of $76,000 at the end of 2019 due to a single cumulative temporar
gavmur [86]

Answer:

a.                                              Debit             Credit

deferred income taxes         $5,400

Income tax expense             $155,600            

                        Income tax payable           $161,000

b. No valuation account related to the deferred tax asset is in existence at the end of 2019, therefore no record should be make

Explanation:

a. In order to record the income tax expense, deferred income taxes, and income taxes payable for 2017 we would have to make the following calculations as follows:

deferred income taxes=($407,000×20%)-$76,000

deferred income taxes=$5,400

Income tax payable=$805,000×20%

Income tax payable=$161,000

Income tax expense=$161,000-$5,400

Income tax expense=$155,600

Therefore, the record of  income tax expense, deferred income taxes, and income taxes payable for 2017, assuming that it is more likely than not that the deferred tax asset will be realized in full would be as follows:

                                               Debit             Credit

deferred income taxes         $5,400

Income tax expense             $155,600            

                        Income tax payable           $161,000

b. No valuation account related to the deferred tax asset is in existence at the end of 2019, therefore no record should be make

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It takes a considerable amount of time to increase the production of pork. this implies that:
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This implies that the work would take longer as well, making the product cost more
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A global recession might limit the benefits of diversifying your investments because:________
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A global recession might limit the benefits of diversifying your investments because most investments may perform poorly if all countries are in a recession

A prolonged period of worldwide economic contraction is referred to as a global recession. As a result of trade links and international financial systems, economic shocks and the effects of recession spread from one nation to the next, causing more or less synchronized recessions in many national economies.

A decline in global per capita gross domestic product (GDP) is one of the factors the International Monetary Fund (IMF) employs to identify global recessions. The IMF defines this decline in global output as having to occur at the same time as a deterioration of other macroeconomic indices, such as trade, capital flows, and employment.

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A recent study found that the death rate for people who sleep 6 to 7 hours per night is lower than the death rate for people who
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Type of employment, indicator for chronic illness, drug, or alcohol use these variables are likely useful to add to the regression to control for important omitted variables.

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Type of employment, Chronic illness and drug/alcohol use they ought to be included in regression since they disturb sleep patterns.

As a result, option (a) Type of employment. (b) Indicator for chronic illness. (c) Drug or alcohol use is correct.

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