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g100num [7]
3 years ago
12

Chandler Co. has a loan that accrues interest at a rate of $28 a day. The company pays the interest once a quarter. What adjustm

ents would be made at the end of a month in which no payment for interest was made?
Business
1 answer:
prohojiy [21]3 years ago
3 0

Answer:

The Adjustment Entry for accrual of Interest Expense will be as follows:

                                              Dr.       Cr.

Interest Expense                $840

Interest accrued Payable               $840

Explanation:

Interest per day = $28

Interest expense for the Month = $28 x 30 = $840

$840 of Interest expense will be accrued at the end of the month and it should be adjusted accordingly.

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8 0
3 years ago
To obtain a change of the zoning for a particular property, for example, from residential to commercial, a property owner would
FrozenT [24]

Answer: Zoning Map Amendment?

Explanation:

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3 years ago
What is the usual term for spending on infrastructure, production facilities, or anything else that will increase future product
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7 0
3 years ago
Carter's preferred stock pays a dividend of $1.00 per quarter. If the price of the stock is $45.00, what is its nominal (not eff
Lera25 [3.4K]

Answer:

8.89%

Explanation:

The answer is 8.89%

Here is how we arrived at this.

Dividend = 1$ times 4

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= $4/ $45

= 0.0889

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3 0
3 years ago
Additional sales were made to Larry by Bird in 2018; inventory costing $24,000 was transferred at a price of $40,000. Of this to
Alona [7]

Answer:

$11,200

Explanation:

As not mentioned in the account. It is Assumed that the Larry and Bird are related parties and Bird made a sale at a transfer price of $40,000 with $24,000 cost of inventory.

Bird can only recognize the equity up to the ratio of inventory used or sold by the related party.

As 30% was not consumed then consumption will be 70%, so 70% of the income is realized and it will be recorded.

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* There is some ambiguity in the question given.

7 0
3 years ago
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