Answer:
The answer is D.
Explanation:
Interest expense is the amount of interest to be paid on borrowed money(bills, notes or bonds). Interest expense can be found on income statement. Income expense reduces the net income and profitability of the company. It is used to determine the solvency of a company.
In the question, Universal borrowed for 12 months from November 1, 2021 and the note matures on October 31, 2022.
For 2021, it will recognize 2 months(November 1, 2021 - December 31, 2021).
For 2022, it will recognize 10 months(January 1, 2022 - October 31, 2022).
Therefore, for 2022, Universal Travel, Inc. will recognize:
$500,000 x 6% x (10 months÷12 months)
= $25,000
Answer:
I would like to become a multi-millionaire of course
Explanation:
I'll invest all my money in a stock I have researched then hope my life hasn't been destroyed by it. Reasearch by watching the way the stock market treats it on special occasions like christmas,and then again on days like weekends.
Answer:
$142,050 is what all of her total assets are worth. If you understand the difference between liabilities and assets theses questions are incredibly easy!
Explanation:
The best answer would be B. the evidence is in plain view
The change in Accounts Receivable will be shown on the statement of cash flows as:
C. Subtraction from net income under the operating activities section.
Net income is calculated by deducting from total revenue the cost of sales, operational expenses, depreciation, interest, amortization, and taxes.
Change in Accounts Receivable:-
Accounts Receivable
In 2019 $ 48,000
In 2018 $ 45,000
Increase in Current Assets $ 3,000
This implies Cash outflow from Operating Activities.
Thus it should be subtracted from Net Income under the Operating Activities section.
Net income is a company's profit for a given period, whereas cash flow from operating activities measures the cash that comes in and goes out during a company's day-to-day operations. Net income is used to calculate cash flow from operating activities. However, both are important in determining a company's financial health.
For more information on Net income, visit :
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