Answer:
This has no effect on the period-end balance sheet.
Explanation:
A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
According to the question asked the balanced sheet was prepared before the pay period came so this effect will not affect the balance sheet.
Answer:
I used an excel spreadsheet to answer this question.
Answer:
yes and no.
Explanation:
it depends on how responsible that teen is and what choices they tend to make.
Shows how participants in the market are linked.
Answer:
$61,071.36
Explanation:
According to the scenario, computation of the given data are as follows,
Value of note = $640,000
So, Carrying value of note on Jan 1, 2020 = $640,000 × 0.71
= $454,400
Prevailing interest rate = 12%
So, Interest for 2020 = $454,400 × 12% = $54,528
Now, Interest revenue for 2021 = ($454,400 + $54,528) × 12%
= $508,928 × 12%
= $61,071.36
Hence, the amount of interest revenue that should be included in Swifty's 2021 income statement is $61,071.36
