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45 46 47 48 49 50 On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $10,800 What is
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On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $10,800 What is the maturity value of the note on March 1? (Use 360 days a year.) Multiple Choice $11,088 $11,016 $11,232 $10,944 $10,800 Athena Company provides employee health insurance that costs $15,100 per month. In addition, the company contributes an amount equal to 4% of the employees $151,000 gross salary to a retirement program. The entry to record the accrued benefits for the month would include a: Multiple Choice Debit to Medical Insurance Payable $15,100. Debit to Employee Benefits Expense $21140 Credit to Employee Benefits Expense $15,100. Debit to Employee Retirement Program Payable $6,040. Debit to Payroll Taxes Expense $21,140 On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $12,000. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.) Multiple Choice $60 $180 o$720 o$120 $0 On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $18,000. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) Multiple Choice Debit Interest Expense, $300; credit Interest Payable, $300. Debit interest payable, $200, credit interest expense, $200. Debit Interest Expense, $400; credit Interest Payable, $400. No adjusting entry is required. Debit Interest Payable, $600; credit Interest Expense, $600. Employees earn vacation pay at the rate of one day per month. During the month of July, 30 employees qualify for one vacation day each. Their average daily wage is $105 per day. What is the amount of vacation benefit expense to be recorded for the month of July? Multiple Choice $105.0 $31,500.0 $30.0 $3,150.0 $315.0 A company's had fixed interest expense of $4,800, its income before interest expense and income taxes is $17,200, and its net income is $7,600. The company's times interest earned ratio equals: 5 5 Multiple Choice 3.58 063 028. 1.58Step by Step Solution
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