Question: First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of

First company signed a one-year note payable for

First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of 12%. The amount of interest to be accrued at the December 31 is P4,000 OP8,000 O P3,000 O P12,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of 12%. The amount of interest to be accrued at the...

Q:

First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of 12%. The amount of interest to be accrued at the...

Q:

First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of 12%. The amount of interest to be accrued at the...

Q:

First company signed a one-year note payable for the amount of P100,000 on September 1. The note requires interest payables at an annual rate of 12%. The amount of interest to be accrued at the...

Q:

Q1)A Company signed a four-month note payable in the amount of $8,000 on September 1. The note requires interest at an annual rate of 9%. The amount of interest to be accrued at the end of December...

Q:

can anyone answer these please? ABC Company purchased equipment for $2,000 by paying $500 cash and s note for the balance. Journalize, in good format, the necessary entry. Question 16 (2 points) The...

Q:

27. Bella Company had the following T-account entries: Prepaid Insurance Beg. $3,600 $600 1-May Bal $3,000 Insurance Expense 1-May $600 Bal $600 Based on this information, what happened on May 1st?...

Q:

A Company purchased a computer for $4.800 on December 1. It is estimated that annual depreciation on the computer will be $960. If financial statements are to be prepared on December 31, the company...

Q:

1-Expenses incurred but not yet paid or recorded are called:* Prepaid expenses Accrued expenses Interim expenses Unearned expenses 2-A Company signed a four-month note payable in the amount of $8,000...

Q:

can someone answer these plz Question 19 (5 points) Explain accrual basis accounting, and contrast it to cash basis accounting. Which basis is required by GAAP? (Your answer should be at least 2 or 3...

Q:

Three foundational multicultural management theories Research the theorists who developed theories related to multicultural management, and compile key information as part of your review....

Q:

The company owns 1,000 shares of Stock A and 3,000 shares of Stock B. The company received dividends of $1.75 per share from Stock A and $0.97 per share from Stock B. The company classifies Stock A...

Q:

What is the amount of tax exempt interest for Magdalena? Multiple Choice $ 3 , 8 0 0 $ 3 , 2 0 0 $ 3 , 5 1 0 $ 2 , 5 0 0

Q:

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...