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ch4aika [34]
4 years ago
10

On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What amount of interest expense

is accrued at December 31 on the note? (Use 360 days a year.)
Business
1 answer:
Veseljchak [2.6K]4 years ago
7 0

Answer:

The $75 amount of interest expense is accrued at December 31 on the note.

Explanation:

The interest expense amount which is accrued at December 31 is shown below:

= Face value ×  interest rate × months ÷ total number of months

= $15,000 × 6% × 1 ÷ 12

= $75

where,

total number of months is 12 in a year

And, for 1 month we have to compute the accrued interest expense. The one month is calculated from December 1 to December 31.

We don't recognized the signed days as we have to compute the interest expense till December 31. That's why we ignored this part.

Thus, the $75 amount of interest expense is accrued at December 31 on the note.

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In 1976, ron wayne sold his 10% ownership of which company for $800? walmart
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Ron Wayne or Ronald Gerald Wayne sold 10% of his ownership of the Apple Computer (now Apple Inc.)  in 1976 for $800. He is a retired American Electronics Industry worker that have co-founded the Apple Computer together with Steve Wozniak and Steve Jobs. He was responsible for giving administrative oversight for the venture of the new company during that period. If he had kept his shares, he would have gained $75.5 billion worth of shares from the said company. 
3 0
3 years ago
On November 1, 2017, Austin Services issued $305,000 of five-year bonds with a stated rate of 12%. The bonds were issued at par,
sergiy2304 [10]

Answer:

$12,200

Explanation:

Calculation to determine the amount of interest expense was recorded for the period of January 1 to April 30, 2018

Interest expense=$305,000*12%*4/12

Interest expense=$12,200

Therefore the amount of interest expense was recorded for the period of January 1 to April 30, 2018 is $12,200

8 0
3 years ago
Which of these would be a good candidate for a one-variable data table and payment function?
choli [55]
The correct option is this: CHECKING SCENARIOS WITH VARIABLE DOWN PAYMENT. 
A data table is a range of cells, which shows how changing one or two variables in one's formula can affect the value of that formula.
In excel, instead of creating several scenarios, one can create a data table with which one can quickly try out different values for formula.<span />
7 0
3 years ago
Blissful Blankets' target profit is $520,000. Each blanket has a contribution margin of $21. Fixed costs are $320,000. The numbe
zysi [14]

It can be deduced that the number of blankets that must be sold in order for the company to achieve the target profit is 40000.

<h3>How to calculate the target profit</h3>

From the information, Blissful Blankets' target profit is $520,000 and each blanket has a contribution margin of $21. Fixed costs are $320,000.

Therefore, the number of blankets that must be sold to achieve the target profit will be:

= (520000+320000)/21

= 40000

Learn more about profit on:

brainly.com/question/1078746

5 0
2 years ago
Which of the following statements is true? Question 8 options: Always shake hands in an interview as it is the polite thing to d
SVETLANKA909090 [29]
I think the answer would be A. It definitely would not be B or C and D seems kind of rude so I think that A. would be the most courteous and kind. Hope this is helpful for you! :)
7 0
3 years ago
Read 2 more answers
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