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Interest Calculations - Calculate the Accrued Interest. Assume a December 31 year-end. Term Borrowed Rate Months Date Borrowed 100,000 6% 9 1-Mar 100,000 6%

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Interest Calculations - Calculate the Accrued Interest. Assume a December 31 year-end. Term Borrowed Rate Months Date Borrowed 100,000 6% 9 1-Mar 100,000 6% 15 1-Mar 100,000 9% 24 1-Sep 100,000 9% 24 30-Sep Financial Statements and Closing Entries Use the adjusted trial balance below to answer the following questions. Interest Accrual Accounts Cash Accounts Receivable Prepaid Rent Balance $ 10,000 151,000 6,000 24,000 Supplies Equipment Accumulated Depreciation Accounts Payable 290,000 125,000 18,000 Salaries Payable 6,000 Interest Payable 1,000 Deferred Revenue 5,000 Notes Payable (due in two years) 30,000 Common Stock 190,000 Retained Earnings 60,000 Dividends 25,000 438,000 200,000 80,000 30,000 20,000 2,000 35,000 Service Revenue Salaries Expense Advertising Expense Rent Expense Depreciation Expense Interest Expense Utilities Expense Number of assets? Total $ amount of current assets? Book value for equipment? Total assets? Number of liabilities? Total $ amount of current liabilities? 123456TORDEN 7 8 9 Net income? 10 11 13 14 15 Total liabilities? Total expenses? Number of temporary accounts? Retained earnings ending balance? Total stockholders' equity? Amount at which Total Assets Total Liabilities + Total Stockholders' Equity? What account do all temporary accounts get closed to? What is the balance of all temporary accounts after closing entries.

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