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
ale4655 [162]
4 years ago
6

On July 1, Alaskan Adventures issues a $120,000, eight-month, 6.5% note. Interest is payable at maturity. What is the amount of

interest expense that the company would record in a year-end adjustment on December 31
Business
1 answer:
xz_007 [3.2K]4 years ago
8 0

Answer:

December 31  Interest expense       $3900 Dr

                           Interest Payable            $3900 Cr

Explanation:

The interest and principal is both payable at maturity thus we need to accrue the interest payment and create a liability against the amount of interest due. The adjustment is made 6 months from the issue of the note thus the interest for 6 months is due. The entry would be to record 6 month's interest that relates to this year. The interest expense will be,

120000 * 0.065 * 6/12 = $3900

As the payment is not made until maturity we will credit interest payable by this amount.

You might be interested in
What is the one thing that is both a strength and a weakness for the rail industry?
34kurt

Answer:

Strength: It provided a faster way of travel

Weakness: It took forever and required a lot of manpower

Explanation:

5 0
3 years ago
ohn, 68, is currently enrolled in a Medicare Supplement Plan with a stand-alone Prescription Drug Plan. Newly diagnosed with a c
Liono4ka [1.6K]

Yes John would be able to register by making use of the special election period.

<h3>What is the special election period?</h3>

The special election period is also sometimes referred to as the special enrollment period in the United States.

This is the period that the beneficiaries of Medicare are able to make changes to their advantage or to their coverages in the nation.

This has to be done outside of what is their initial enrollment period . This is a yearly open period where the citizens are able to sign up for Medicare in the nation.

Read more on Medicare here:

brainly.com/question/1960701

#SPJ1

7 0
2 years ago
Management decisions typically lack structure. are always free of risks. are made under conditions of perfect certainty. are con
____ [38]

Complete Question:

Which of the following is true of managerial decision making?

Group of answer choices.

A. Most managerial decisions lack structure.

B. Managerial decisions are always free of risks.

C. Managerial decisions are taken under conditions of perfect certainty.

D. Managers show consistency in their decisions in response to novel problems.

E. A manager’s decisions have the characteristics of programmed decision

Answer:

A. Management decisions typically lack structure.

Explanation:

The management of an organization or business firm are typically involved in taking up leadership roles and as such are expected to build a strong relationship between their employees by creating a fair ground for effective communication and sharing of resources and information.

A decision-making process can be defined as a cognitive process which typically involves an individual or business selecting the best option, course of action, or belief among several alternatives, so as to meet a particular need or accomplish a goal. Thus, it typically involves the process of gathering informations, accessing and weighing the informations with their alternatives and choosing the best option.

Generally, management decisions are considered to typically lack structure because most problems are novel and as such would require different procedures to follow in proffering solutions. Thus, most management decisions are non-programmed decisions making them to lack structure i.e being unstructured.

6 0
3 years ago
The cheap foreign labor argument for protectionism refers to ________.
kifflom [539]
The cheap foreign labor argument for protectionism refers to a lower wage often earned by many foreign workers.
Hope this helps :)
7 0
4 years ago
Read 2 more answers
Purshed discounts based on total purches over a period of time are what discounts
Dafna1 [17]

Answer:

Purchase discounts is a contra revenue account. Revenue accounts carry a natural credit balance; purchase discounts has a debit balance as a contra account. On the income statement, purchase discounts goes just below the sales revenue account.

8 0
3 years ago
Other questions:
  • On January 1st, Great Designs Company had a debit balance of $1,450 in the Office Supplies account. During the month, Great Desi
    13·1 answer
  • The fallacy of _____ is arguing erroneously that what can be said of the whole can be said of the parts.
    5·1 answer
  • A ________ is a list of duties and capabilities required for a particular job.
    13·1 answer
  • The 1970s saw a period of high inflation in many industrialized countries including the united states. due to the increase in th
    14·1 answer
  • After spending a summer "down under," two Oregon friends, Rick and Mick, created a general partnership to import emu from Austra
    13·1 answer
  • In this business structure a common view of a firm is as a hierarchy organized around a set of functions. Each group has a core
    12·1 answer
  • sells authentic Amish quilts on her website. Suppose Sally expects to sell 1 comma 800 quilts during the coming year. Her averag
    12·2 answers
  • Operating data for Bramble Corp. are presented below.
    12·1 answer
  • Suppose the Digby company expands to other markets with good designs, high awareness and easy accessibility, what strategy would
    8·1 answer
  • The Work in Process Inventory account of a manufacturing company has a $3,200 debit balance. The company applies overhead using
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!