User Account

All Pages

How much Bramble should record accrued interest payable

Assignment Help Accounting Basics
Reference no: EM132671807

Question - On September 1, 2020, Bramble Corp. issued a note payable to Fidelity Bank in the amount of $2736000, bearing interest at 12%, and payable in three equal annual principal payments of $912000. On this date, the bank's prime rate was 13%. The first payment for interest and principal was made on September 1, 2021. At December 31, 2021, how much Bramble should record accrued interest payable?

a. $118560.

b. $72960.

c. $237120.

d. $109440.

Reference no: EM132671807

Questions Cloud

Compile list of various data-compression techniques : Compile a list of various data-compression techniques that are commonly employed in today's computer systems.
Strengths and limitations of small n designs : Evaluate some of the strengths and limitations of small N designs, and under what circumstances a researcher might opt to use a small N design instead of a more
Batterer intervention program participant : It is between 5:45 and 6:00 p.m. on a Tuesday,at a evening's batterer intervention program group. The group starts at 6:00 p.m. and participants have begun chec
Three-tier web application architecture : A three-tier web application architecture has been generically defined as the presentation, business logic, and data storage tiers.
How much Bramble should record accrued interest payable : The first payment for interest and principal was made on September 1, 2021. At December 31, 2021, how much Bramble should record accrued interest payable
What are the ways in which social workers can be sensitive : What are the ways in which social workers can be sensitive to such clients?
Corporate protected information : An HU Investment Firm employee who had signed a non-disclosure agreement at the time of hire was identified as posting corporate protected information
Respect to technology implementation : Search the internet for best practices with respect to technology implementation.
What portion be shown as a current liability : What portion of the $701000 should be shown as a current and long-term liability, respectively, in Coronado's December 31, 2021 balance sheet

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which inventory costing method provide highest net income

Your boss has just contacted you about an inventory decision. Which inventory costing method will provide the highest net income for the company

  How do social and cultural environments impact newborns

How do social and cultural environments impact newborns? Share any professional or personal observations that support your posting.

  Computing average markup percentage for setting prices

Compute the average markup percentage for setting prices as a percentage of the full cost of the product Nancy Company has budgeted sales of $300,000 with the following budgeted costs

  Compute Julio after-tax cash flow from the sale

Compute Julio's after-tax cash flow from the sale, assuming he is in the 35% tax bracket and has no other property sales during the year

  In looking at your business when and why would you want to

in looking at your business when and why would you want to use a one-sample mean test either z or t or a two- sample

  Discuss the preferred and common stockholders

Abc company had the following stock outstanding when the companies board of directors declared

  Write the journal entry using the format shown in chapter

For each of the transactions in M2- 9 (including the sample), write the journal entry using the format shown in this chapter (omit explanations). a. (Sample) Borrowed $ 3,940 from a local bank on a note due in six months. b. Received $ 4,630 cash fro..

  What are the net operating cash flows

Your Company considers the acquisition of a new brewing machine. The cost price of the machine is R112000. What are the net operating cash flows

  Determine the robert employer deduction

Robert entertains several of his key clients on January 1 of the current year. Determine the Robert's employer's deduction

  What are the obligations regarding preparation

What are the obligations regarding preparation and audit of financial statements under each If they decide to list on the New Zealand Stock Exchange

  Prepare a schedule comparing the actual results

Prepare a schedule comparing the actual results with flexible budget amounts developed for the actual sales volume of $10,500,000

  Calculate the accumulated depreciation and net book value

A vehicle with cost of 500.000 TL is purchased on January 1 2016 . Its useful life is 1.000.000 km and estimated residual value is 20.000 TL.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd