1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lutik1710 [3]
3 years ago
11

West Company borrowed $48,000 on September 1, Year 1 from the Valley Bank. West agreed to pay interest annually at the rate of 9

% per year. The note issued by West carried an 18-month term. Based on this information the amount of interest expense appearing on West's Year 1 income statement would be:
Mathematics
1 answer:
dusya [7]3 years ago
6 0

Answer:

$1,440

Step-by-step explanation:

Given:

Borrowed amount by west company from valley bank = $48,000

Interest is paid annually = 9% per year

Time period = From 1st September to 31st December

                    = 4 months

The note issued by West carried an 18-month term.

Therefore,

Interest expense = Principal amount × Rate × Time period

                            = $48,000 × 9% × (4 ÷ 12)

                            = $48,000 × 0.09 × (1 ÷ 3)

                             = $1,440

Therefore, the amount of interest expense that will be reported on West's income statement for Year 1 is $1,440.

You might be interested in
The quadratic function f has a vertex at (3,4) and opens upward. The quadratic function g is shown below. Which statement is tru
lakkis [162]
1. The minimum value of f is greater than g
7 0
3 years ago
What is 40% of 50% of 1200
hram777 [196]

Answer:

240 because first u have to figure out 40%of 50% and than 1200

Step-by-step explanation:

3 0
3 years ago
Wolf Slayer21 Has 165 Subscribers. He Got 5 More Subscribers. How Many Subscribers Does He Have?
Arada [10]

Answer:

170 Subscribers.

Step-by-step explanation:

He had 165 then he got 5 more so you need to add the amount so 165 and 5 would give you the answer of 170 subscribers. Hope This Helps.

6 0
3 years ago
Read 2 more answers
What is the radius of a circle if the area is 78.5 cm^2
Verizon [17]
78.5= (3.14)r^2
25=r^2
5=r
So, the radius of a circle with an area is 78.5 cm^2 is 5 cm^2
3 0
3 years ago
The is the mean score ? A.25.5 B.26 C.
pentagon [3]
So to find the mean you add up all the numbers (or the exam scores) which will get you 212 then you take the number and divide it by the total numbers in the set (how many numbers did you add up?)

212 divided by 8 is 26.5 which would be C. I hope this helps!
5 0
3 years ago
Other questions:
  • I need help with my multiplying mixed numbers by whole numbers
    15·1 answer
  • Do, 2(x, y)+(3,5).<br> The point (x, y) is<br> (1,3)<br> (-3/2, -5/2)<br> (-6, -10)
    11·1 answer
  • Simplify (7x) - (-2x).<br><br> 5x<br> -5x<br> 9x<br> -9x
    7·2 answers
  • Carrie has 32 ounces of ice cream to divide equally among 10 people. How much ice cream will each person get?
    15·2 answers
  • What single decimal multiplier would you use to increase by 2% followed by a 1% increase?
    5·1 answer
  • Jeremie bought 5 pounds of bananas for $4.45. How much is 1 pound of bananas? Show or explain your reasoning
    9·2 answers
  • (ii) 5ab +5 - 6ab - 1<br> How to do this ?
    5·1 answer
  • Given: AB=CB, CD=ED, Prove: AB // DE
    10·1 answer
  • The Royal Fruit Company produces two types of fruit drinks. The first type is 80 % pure fruit juice, and the second type is 100%
    5·1 answer
  • Match each rational expression to its simplest form.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!