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I'm not sure if I'm doing these correctly. I also don'a understand the blank spots. Please Help! Answer the following for a company that borrows
I'm not sure if I'm doing these correctly. I also don'a understand the blank spots. Please Help!
Answer the following for a company that borrows $300,000. The annual rate is 6%. How much interest revenue should be recorded over the next 12 months? 300.06 14,000 Suppose the note is dated August 1, 2021. Determine how much interest expense is recorded each year and how much cash is paid each year. 2021: 2022: 5 months 7 months Interest - 1500.5 Expense 1500 .7 -10500 1890 12 75008 Cash Paid 2 Suppose the is dated May 1, 2021. Determine how much interest expense is recorded each year and how much cash is paid each year. 2021: 2022: 18 months 4 months Interest 1800, 1500.8 Expense 1500.4 FILOSOO . ( = 12,000 Cash Paid Suppose the note is dated October 1, 2021. Determine how much interest revenue is recorded each year and how much cash is received each year.be 2021: 2022: 9 months Interest 750412-623, 7504/12=625 on on Revenue balloon 3 months 620.3=1975 625.9=5625 Cash Received 1875 U OD WOH 5625 - CHAPTER 8 ons How is the book value of a long-term operational asset like a machine calculated? cost of the asset accumulated depreciation, How do you convert the annual depreciation expense above to a monthly rate? arruas corresistien monthey depreciation Toe ek assetSalveg talu anual depreciation useful lifespan 12 months How many months of depreciation expense are needed in the first year for an asset purchased on March 1s? How many months of depreciation expense are needed in the last year for an asset sold on September 1s? bovlash Answer the following for a company that borrows $150,000 The annual rate is 5%. How much interest revenue should be recorded over the next 12 months? 5 158000 58.05=17580 toolilor de lo Suppose the note is dated July 1, 2021. Determine how much interest revenue is recorded each year and how much cash is received each year. 2021: 2022: co months 6months 950412=625. baths Interest Revenue = 3750 - 3750 7504,2= 625. 6month 16 Cash Received WOH aide no blog 3750 3750 a On November 1st, a company declared a $60,000 cash dividend to be paid on December 31st to shareholders of record as of December 1st 14 On what date does the company record a liability for the dividend? On what date does the company record a decrease to retained earnings for the dividend? On what date does the company record the payment of the cash? What date does not require the company to record any transactions? nor 1 Dec 31st Dee 1st Step by Step Solution
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