User Account

All Pages

How much is interest payable on the balance sheet

Assignment Help Financial Accounting
Reference no: EM132569994

Question 1: On September 1, Kayla Co. bought equipment for $60,000 putting 20% down and borrowing the rest at 8% due in one year. Kayla also took out a two-month loan for $40,000 on October 1 at 7%. How much is interest payable on the 12/31 Balance Sheet?

Option a. $960

Option b. $1,280

Option c. $2,560

Option d. $2,880

Option e. None of the above

Reference no: EM132569994

Questions Cloud

How the eps equals : Grover Corp. had 200,000 shares outstanding on January 1. On October 1, it issued 160,000 shares. Grover net income was $400,000. EPS equals
Explain the normal process an auditor would expect : Explain the normal process an auditor would expect to find in the client's systems governing changes to computer programs
What interest expense on the year income statement : $500,000 for $481,046 to provide a 10% yield. Interest is paid annually on January 1. Interest expense on the year 1 income statement would be
Predominantly filled by certain gender : If all gender stereotypes and societal gender norms were removed, would there still be any professions that would be predominantly filled by a certain gender?
How much is interest payable on the balance sheet : Kayla also took out a two-month loan for $40,000 on October 1 at 7%. How much is interest payable on the 12/31 Balance Sheet?
Record the eliminations of the goodwill and its impairment : Record the eliminations of the goodwill and its impairment, if any, that are necessary 10 years after the control date
Major channels is the spinal cord : The brain communicates with the outside world through a variety of channels. One of the major channels is the spinal cord.
Suffered by christopher reeves : Traumatic injuries, such as that suffered by Christopher Reeves (an actor that portrayed Superman years ago) can affect a variety of functions of the body.
Find the issued capital of a company is : Find the issued capital of a company is? Always the same as the authorized capital./The same as preference share capital./Equal to the reserves of the company

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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