Reference no: EM13257605
On July 1, 2009, Allen Company signed a $100,000,one-year, 6 percent note payable. At due date, June 30, 2010,the principal and interest will be paid. Interest expenseshould be reported on the income statement (for the year endedDecember 31, 2009) as ? b) On January 1, 2009, Houston Company purchased a deliverytruck that cost $40,000. Cash of $10,000 was paid, and thebalance of $30,000 was payable on January 31, 2010. The truckhas an estimated useful life of four years and no residualvalue. Considering only these facts, depreciation expense (onthe truck) for 2009, would be? c) Pella Company purchased a machine that cost $50,000 and hadan estimated useful life of 10 years (no residual value) on January1, 2006. The book value at the end of 2007,would be? d) Assume Idaho Company recorded the followingadjusting entry at year-end:
|
Insurance expense
|
$2,000
|
|
|
Prepaid insurance
|
|
$2,000
|
If the beginning balance in prepaid insurance was $500 and$2,500 was paid for an insurance premium during the year, the ending balance in the prepaid insurance account (after the aboveadjusting entry) would be?
|
Describe an experiment that galvani could have performed
: When we discussed the work of Galvani and Volta, we noted that Galvani's work was not fully appreciated until the development of instruments capable of detecting and amplifying the small biopotentials present in living organisms.
|
|
Determine the angles thetha
: The acceleration of the car has the following representation: a=-(3.53i+0.309j)m/s^2. Knowing that a is parallel to the incline, determine the angles thetha and phi, and express their value in radian.
|
|
Determine the width of the central bright fringe
: Red light of wavelength 633nm from a helium-neon laser passes through a slit 0.370mm wide. What is the width of the central bright fringe?
|
|
Explain reaction assuming first-order kinetics
: After 52.0 min, 18.0% of a compound has decomposed. What is the half-life of this reaction assuming first-order kinetics
|
|
Determine balance in prepaid insurance account
: If beginning balance in prepaid insurance was $500 and$2,500 was paid for insurance premium during year, ending balance in prepaid insurance account (after the aboveadjusting entry) would be?
|
|
What are examples of unusual or dysfunctional costing
: What are examples of unusual or dysfunctional costing information that has been seen and/or decisions made using that costing information?
|
|
Calculate the net present value
: Calculate the net present value (NPV) for the following twenty-year projects. Comment on the acceptability of each. Assume that the firm has an opportunity cost of 14%.
|
|
Question regarding memphis corporation
: Memphis Corporation has a cash balance of $200,000.00 on1/1/2008. The company's sales budget for the year was$500,000.00. However, only 80% of the sales for the year arecollectible during the year.
|
|
Major steps in the standard-setting process
: List the major steps in the standard-setting process. Explain the purpose of each of the primary documents thatresults from the process.
|