At the end of the year, the following interest is payable, but not yet paid. Record the
Question:
At the end of the year, the following interest is payable, but not yet paid. Record the adjusting entry in the general journal.
Interest on $5,000, 60-day, 9% note (for 12 days) ..... $15.00
Interest on $2,500, 30-day, 12% note (for 9 days) ...... 7.50
$22.50
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
DATE GENERAL JOURNAL DE...View the full answer
Answered By
Susan Juma
I'm available and reachable 24/7. I have high experience in helping students with their assignments, proposals, and dissertations. Most importantly, I'm a professional accountant and I can handle all kinds of accounting and finance problems.
4.40+
15+ Reviews
45+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
At the end of the year O'Toole General Hospital, which carries no medical malpractice insurance, had the following list of malpractice claims: 1. Mr. Seymour Green, a heart patient, led a claim for...
-
The inventory at the end of the year was understated by $23,950. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet...
-
The inventory at the end of the year was understated by $8,750. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet at...
-
The following information is available for Dylan Inc., a company whose shares are traded on the Toronto Stock Exchange: Other information: 1. For all of the fiscal year 2020, $100,000 of 6%...
-
Refer to the statement of cash flows for Google in Appendix A for the fiscal year ended December 31, 2015, to answer the following. 1. What amount of cash is used to purchase property and equipment?...
-
Its moving day, and you need to push a 100 kg box up a 20 ramp into the truck. The coefficients of friction for the box on the ramp are s = 0.90 and k = 0.60. Your largest pushing force is 1000 N....
-
A process has streams to be heated and cooled above its pinch temperatures as illustrated in Figure 11.62. Complete a design that satisfies MER targets with the minimum number of heat exchangers....
-
1. How would you conduct a job analysis for a job that does not yet exist? 2. Do you think the abilities chosen for selection are content-valid? What other kinds of predictors might be generally...
-
On April 13, Joel's car was stopped, and he and a companion were arrested for a few miles away from, and a few minutes after, the burglary of a supper club. The burglary had been reported by an...
-
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
-
Prepare general journal entries for the following transactions: July 15 Borrowed $5,000 cash from the bank, giving a 60-day non-interest-bearing note. The note is discounted 12% by the bank. Sept. 13...
-
J. K. Pratt Co. had the following transactions: 20-1 July 20 Received a $750, 30-day, 10% note from J. Akita in payment for sale of merchandise. Aug. 19 J. Akita paid note issued July 20 plus...
-
Consider the ordinary vectors in three dimensions with complex components. (a) Does the subset of all vectors with a z = 0 constitute a vector space? If so, what is its dimension; if not, why not?...
-
What does value mean? Does it have to be monetary? Give me 3 ways of measuring value .
-
The following diagrams show squares with dots and empty squares that form a pattern. The following table shows the numbers of dots and squares in each diagram: Diagram 3 4 7 Dots 7 9 Squares Sum (#...
-
Discuss the working principles of photovoltaic cells in solar panels. How do they convert sunlight into electricity, and what factors affect their efficiency? Discuss.
-
A company produces wooden tables. The company has fixed costs of $ 1 6 0 0 , and it costs an additional $ 5 0 per table. The company sells the tables at a price of $ 1 5 7 per table. If the company...
-
assume that the one year interest rate is 4 . 0 % in the united states ; the spot exchange rate is $ 1 . 2 5 / euro and the one year forward rate is $ 1 . 1 6 / euro . what must the one year interest...
-
Explain the difference between the nominal rate of interest and the real rate of interest.
-
What are the two components of a company's income tax provision? What does each component represent about a company's income tax provision?
-
Determine convergence or divergence using any method covered in the text so far. 00 n=2 1 3 n?
-
Diane Clubb is trying to convert income statement items from an accrual basis to a cash basis. Accounts Receivable at the beginning of the year totalled $205,000. At the end of the year Accounts...
-
Pat Kinne is trying to calculate how much cash is being paid to suppliers of her firm's inventory during 2013. Cost of Goods Sold was reported at $190,500. Pat thinks she needs more data than are...
-
Journalize each of the transactions in Exercise 29 assuming a periodic inventory system and PST at 8% along with 5% GST. In Exercise 29 June 1 Purchased $2,000 of merchandise; terms 1/10, n/30. 5...
-
PLEASE REFER TO THE SCREENSHOT OF THE OUTPUT BELOW EACH QUESTION AND THE CODE TO ENSURE THAT THE GIVEN ANSWER MATCHES THE OUTPUT AND USES THE CORRECT TABLES SQL CODE(to long to post in text):...
-
Use Adventure Works Database Question 1 will be Sales.SalesOrderDetail table Questtion 2-3requires joining two tables: Sales.SalesOrderDetail and Production.Product 1. Using table...
-
The Driver Relationship team requested to ensure that there will be no duplicates in the active drivers tables in terms of first name, last name and driving license ID. You need to provide constraint...
Study smarter with the SolutionInn App