Question
On March 1, 2014, Peppers Deli loaned $18,000 to Simms Supply for one year at 7 percent interest. Required Answer the following questions. a. What
| On March 1, 2014, Peppers Deli loaned $18,000 to Simms Supply for one year at 7 percent interest. |
| Required |
| Answer the following questions. |
| a. | What is Peppers interest income for 2014? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.) |
| b. | What is Peppers total amount of receivables at December 31, 2014? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.) |
| c. | What amounts will be reported on Peppers 2014 statement of cash flows? (Enter cash outflows as negative amounts.) |
| d. | What is Peppers interest income for 2015? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount.) |
| e. | What is the total amount of cash that Peppers will collect in 2015 from Simms Supply? |
| f. | What amounts will be reported on Peppers's 2015 statement of cash flows? (Enter cash outflows as negative amounts.) |
| g. | What is the total amount of interest Peppers Deli earned from the loan to Simms Supply? |
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Information Systems Control And Audit
Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board
1st Edition
1781639426, 978-1781639429
