User Account

All Pages

Interest and principal were paid in cash on maturity date

Assignment Help Cost Accounting
Reference no: EM133234915

Maria borrowed 600,000 from BDO on September 1,2023 with note carried an 8% annual rate of interest and was set to mature on February 28,2024. The interest and principal were paid in cash on the maturity date.

Questions:

1. What was the amount of interest expense shown in the 2024 in the income statement?

2. What was the amount of cash that was paid to the bank on February 28,2024 for the principal and interest?

3. What was the amount of interest expense paid in cash in 2023?

4. What was the amount of liabilities shown in the 2023 SFP or balance sheet?

5. What was the amount of interest expense to be recognized in the 2023 statement of income?

Reference no: EM133234915

Questions Cloud

Calculate eoq and total annual inventory costs : Calculate the EOQ and total annual inventory costs. Prepare a graphical analysis of the EOQ decision.
Defined as revenues less cost of goods sold : What is total cost of work-in-process at the end of September? What was Flamingo Salt's gross income (defined as revenues less cost of goods sold) for month?
Result of setting prices using relevant costing : Discuss TWO key problems that may arise for Essential Beauty Group as a result of setting prices using relevant costing.
Costs as either manufacturing or non-manufacturing : Classify the following costs as either manufacturing or non-manufacturing. Classify the following costs as either variable, fixed or semi- variable.
Interest and principal were paid in cash on maturity date : What was the amount of interest expense shown in the 2024 in the income statement? What was the amount of interest expense paid in cash in 2023?
Direct materials debited to work in process inventory : How much is the amount of direct materials debited to Work in Process Inventory? How much is the materials usage variance?
Equivalent units of production for materials : What are the equivalent units of production (EUPs) for materials in the month of September assuming Townson uses weighted-average process costing?
Identify primary keys with PK and foreign keys with FK : List the table with Primary keys, attributes and foreign keys that implement the following UML class diagram given the accompanying list of attributes.
Calculate weighted average cost of capital : Calculate the weighted average cost of capital, using the Capital Asset Pricing Model to calculate the cost of equity.

Reviews

Write a Review

Cost Accounting Questions & Answers

  What is the minimum amount of bonds

What is the minimum amount of bonds it would have to issue to do so?- what is the minimum amount it would have to borrow?

  Should carlon ltd make or buy the compressors

Assume the fixed costs are unavoidable. Should Carlon Ltd make or buy the compressors? Why? Carlon Ltd currently manufactures 10,000 compressors

  What are the total product costs for the company

The Rock Company produces basketballs. It incurred the following costs during the year. What are the total product costs for the company under variable costing?

  1 the future value of a dollar as the interest rate

1. the future value of a dollar as the interest rate increases and the farther in the future an initial deposit is

  Find the net present value of the investment in machine

What is the difference between the total, undiscounted cash inflows and cash outflows over the entire life of the machine. Find the net present value

  What will be the cost per unit for each type of pillow

What will be the cost per unit for each type of pillow under traditional costing? Describe quantitative and qualitative approaches/ informations.

  Calculate profit in total for year

Norton Ltd manufactures a single product, which is sold for $150 per unit. The standard variable costs per unit. Calculate profit in Total for Year1

  What is the prime cost for the period

What is the prime cost for the period? Production reports showed that 100,000 units of Product X were manufactured at labor costs of P550,000

  Evaluate the overhead cost of an 8-labor-hour job

Evaluate the overhead cost of an 8-labor-hour job requested by Jasmine's Fine Jewelry? How does this compare to the overhead cost charged to such a job in the prior year?

  Calculate the net income and cost of the ending inventory

Use the following information to answer the questions: Calculate the net income and cost of the ending inventory using the absorption costing method

  How can convince people who believe like about the value

How can convince people who believe like this about the value of management accounting. Financial accounting is the dominant one and many people

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

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