Question: On December 11 2014 the Sydner Company borrowed 42 000 and
On December 11, 2014, the Sydner Company borrowed $42,000 and signed a 60-day, 5.5% note payable. Calculate the accrued interest payable on December 31, 2014.
Relevant QuestionsVision Wear’s product warranties state that defective glasses will be replaced free of charge for the life of the product. Vision Wear estimates that 2% of the pairs of glasses sold will require replacement. Each pair of ...The following list of items might appear as liabilities on the balance sheet of a company that has a two-month operating cycle. Identify the proper classification of each item. In the space beside each item write a C if it ...On October 15, Ocburn purchased $2,500 of merchandise on credit. The next day, it recorded sales of $1,700; cost of sales was $1,200. Record the October 15 and October 16 entries assuming each of the geographical areas noted ...Mackenzie Corp. is preparing the December 31, 2014, year-end financial statements. Following are selected unadjusted account balances:Estimated warranty liability ....... $ 6,460Income tax expense..................... ...On November 9, 2014, Ryniak Co. began to buy and resell snowblowers for $700 each. Ryniak uses the perpetual system to account for inventories. The snowblowers are covered under a warranty that requires the company to ...
Post your question