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Lostsunrise [7]
3 years ago
6

On December 1, Victoria Company signed a 90-day. 8% note payable, with a face value of $16, 200. What amount of interest expense

is accrued at December 31 on the note?
a. $0
b. $1, 296
c. $216
d. $108
e. $324
Business
1 answer:
8_murik_8 [283]3 years ago
5 0

Answer:

Option (d) is correct.

Explanation:

Given that,

On December 1,

Victoria Company signed a 90-day. 8% note payable, with a face value of $16, 200

Interest expense on December 31 is accrued for 30 days (Dec 1 - Dec 31)

Interest expense:

= Amount of note payable × Interest rate × Time period

= $16,200 × 8% × (30 ÷ 360)

= $108

Therefore, amount of interest expense is accrued at December 31 on the note is $108.

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The answer is, False.

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4 0
2 years ago
Zach is employed by Scott Paper Company and is a key account manager on the WalMart team based in Bentonville, AR so he can be n
Travka [436]

Answer: d. channel captain

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6 0
2 years ago
Splish Corporation has retained earnings of $721,100 at January 1, 2020. Net income during 2020 was $1,562,700, and cash dividen
Vitek1552 [10]

Answer and Explanation:

The preparation of the retained earnings statement is presented below:

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3 years ago
You've collected the following information about a company: Assets Liabilities and Equity Cash 13,000 Accounts payable 16,000 Ma
professor190 [17]

Answer:

The answer is "$228,000"

Explanation:

Formula:

\text{Total Assets = Current Assets + Fixed Assets}

                    = [\$ 13,000 + \$ 2,000 + \$ 4,000 + \$ 95,000] + [\$ 34,000 + \$ 80,000]\\\\= [\$ 114,000] + [\$ 114,000]\\\\= \$ 228,000

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Miniaturization of Wisynco sales?
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