On January 21, 2022, Moon Corporation purchased 300 shares of Amazon stock for $2,853 per share and classified the investment as TRADING On January 31, 2022, Amazon stock was trading at $2,991 per share and on February 28, 2022 the stock was trading at $3,071 per share The Investment in Amazon will be shown on Moon Corporations January 31, 2022 Balance Sheets for $855,900 $876,600 $897,300 $921,300 The Unrealized Gain or Unrealized Loss on this trading investment will be shown on Moon Corporations January 2022 Income Statement for $20,700 unrealized loss $24,000 unrealized loss $41,400 unrealized gain $65,400 unrealized gain When a company records an unrealized loss on trading investments , its net income will not be impacted by that transaction increase decrease decrease or increase, depending on the related market value On March 1, 2022, Talk, Inc signed a one year, 8 note payable for $120,000 Assuming that Talk maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement Round answer to the nearest dollar $1,600 $4,800 $8,000 $9,600 Rock Company borrowed $58,000 cash on February 1, 2022, and signed a seven month, 6 note payable with interest payable at maturity Assuming that adjusting entries have been made monthly, the amount of accrued interest payable to be reported on the May 31, 2022 balance sheet is Round answer to the nearest dollar $3,480 $2,030 $1,989 $1,160 $870 Inka Company borrowed $34,000 cash on March 1, 2022, and signed an eleven month, 5 note payable with interest payable at maturity What is the amount of total interest expense on this note Round answer to the nearest dollar $142 $1,417 $1,545 $1,558 $1,700 Brass Company borrowed $164,000 cash on March 5, 2022, and signed a 135 day, 7 note payable with interest payable at maturity Which of the following would be the required adjusting entry at the on March 31, 2022 Use 360 day year and round your answer to the nearest dollar Dr Notes Payable 164,000 Dr Interest Expense 11,480 Cr Cash 175,480 Dr Interest Expense 11,480 Cr Interest Payable 11,480 Dr Interest Expense 829 Cr Interest Payable 829 Dr Interest Expense 829 Cr Notes Payable 829

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On January 21, 2022, Moon Corporation purchased 300 shares of Amazon stock for $2,853 per share and classified the investment as TRADING . On January

On January 21, 2022, Moon Corporation purchased 300 shares of Amazon stock for $2,853 per share and classified the investment as TRADING. On January 31, 2022, Amazon stock was trading at $2,991 per share and on February 28, 2022 the stock was trading at $3,071 per share.

The Investment in Amazon will be shown on Moon Corporations January 31, 2022 Balance Sheets for:
1. $855,900
2. $876,600
3. $897,300
4. $921,300

The Unrealized Gain or Unrealized Loss on this trading investment will be shown on Moon Corporations January 2022 Income Statement for:
1. $20,700 unrealized loss
2. $24,000 unrealized loss
3. $41,400 unrealized gain
4. $65,400 unrealized gain
When a company records an unrealized loss on trading investments, its net income will:
1. not be impacted by that transaction.
2. increase.
3. decrease.
4. decrease or increase, depending on the related market value.

On March 1, 2022, Talk, Inc. signed a one-year, 8% note payable for $120,000. Assuming that Talk maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement? Round answer to the nearest dollar.

$1,600
$4,800
$8,000
$9,600

Rock Company borrowed $58,000 cash on February 1, 2022, and signed a seven-month, 6% note payable with interest payable at maturity. Assuming that adjusting entries have been made monthly, the amount of accrued interest payable to be reported on the May 31, 2022 balance sheet is? Round answer to the nearest dollar.

$3,480
$2,030
$1,989
$1,160
$870

Inka Company borrowed $34,000 cash on March 1, 2022, and signed an eleven-month, 5% note payable with interest payable at maturity. What is the amount of total interest expense on this note? Round answer to the nearest dollar.

$142
$1,417
$1,545
$1,558
$1,700

Brass Company borrowed $164,000 cash on March 5, 2022, and signed a 135-day, 7% note payable with interest payable at maturity. Which of the following would be the required adjusting entry at the on March 31, 2022? Use 360-day year and round your answer to the nearest dollar.
1. Dr. Notes Payable 164,000

Dr. Interest Expense 11,480

Cr. Cash 175,480