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REY [17]
3 years ago
9

Mission Corp. borrowed $50,000 cash on April 1, 2016, and signed a one-year 12%, interest-bearing note payable. The interest and

principal are both due on March 31, 2017. The amount of interest expense for the year ended December 31, 2016 is: Group of answer choices $6,000. $4,500. $1,500. $4,000.
Business
1 answer:
ikadub [295]3 years ago
8 0

Answer:$4,500---B, ie the 2nd option

Explanation:

From April to December we have 9 months

Interest Expense is given as Loan x Interest Rate x duration

Interest Expense = 50000 x 12% x 9/12 =

50,000x 0.12x9/12= $4,500

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I think it might be C, I'm not sure but I think it is.

Hope this helped. Have a great day! :D
8 0
3 years ago
what tax software program do you feel would be your best choice today and why do you think it is the best? ​
Fynjy0 [20]

Answer:

Turbotax

Explanation:

it's easy to use especially for first timers.

6 0
2 years ago
The scenarios each illustrate a principle of economics. classify each scenario according to the principle that best fits it. you
storchak [24]

David's decision on the electronics to purchase represents opportunity cost.

The decision to hire another economist is marginal analysis.

Ana's decision on how to use her time involves opportunity cost.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When an economic agent chooses one option, he would not be able to choose another option.

<h3>What is marginal analysis?</h3>

Marginal analysis involves comparing the marginal cost or / and the marginal benefit of a decision.

To learn more about opportunity cost, please check: brainly.com/question/26315727

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8 0
2 years ago
A company has the following liabilities at year end: Mortgage note payable; $16,000 due within 12 months $355,000 Short-term deb
Grace [21]

Answer:

The amount that the company should include in the current liability section of the balance sheet is $16,000

Explanation:

The short-term debt that the company is refinancing with long-term debt is non-current and  deferred tax liability arising from depreciation is also non-current and should be disclosed as such in the Balance sheet after the sub-heading long-term borrowings.

Therefore, The amount that the company should include in the current liability section of the balance sheet is $16,000

4 0
3 years ago
Consider a Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor (the number of
olga_2 [115]

Based on the above scenario, the production function is Y=K1/3L1/3H1/3.

<h3>What is  production function?</h3>

The word production function is known to be an equation that is said to be the one that shows the relationship between the quantities of productive factors (that is labor and capital) that are said to be used and also the number of product that has been obtained.

Note that from the above, the equation that stands for Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor, and H is human capital  is Y=K1/3L1/3H1/3.

Learn more about production function from

brainly.com/question/25672041

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2 years ago
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