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please help me Ch. 9 1. Earned $1,500 of cash revenue. 2. Borrowed $2,600 cash from the bank. 3. Adjusted the accounting records to recognize
please help me Ch. 9
1. Earned $1,500 of cash revenue. 2. Borrowed $2,600 cash from the bank. 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1. Year 1. had a one-year term and an 6 percent annual interest rate. Required a. What is the amount of interest payable at December 31, Year 17 b. What is the amount of interest expense in Year 17 c. What is the amount of interest paid in Year 17 d. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases () or decreases (O) each element of the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities (OA) , investing activities (IA) or financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example. complete this question by entering your answers in the tabs below. Req Atoa RegD What is the amount of interest payable at December 31, Year 17 (Do not round Intermediate calculations. Round your answer to the nearest dollar amount) What is the amount of interest expense In Year 12 (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) What is the amount of Interest paid in Year 1 Show less b. interesi payable rest expense Amount of cash and d RegD 1. Eamed $1500 of cash revenue 2. Borrowed $2.500 cash from the bank 2. Adjusted the accounting records to recognize accrued interest expense on the banknote. The note.issued on September 1 Yeart had a one-year term and an 6 percent annual interest rate Required What is the amount of interest payable at December 31 Year 1? b. What is the amount of interest expense in Year 1? c. What is the mount of interest paid in Year ? d. Use a horizontal statements model to show how each event affects the balance sheet income statement, and statement of cash flows. Indicate whether the event increases (1) or decreases (0) each element of the financial statements in the Statement of Cash Flows column Classify the cash flow as operating activities (OA), investing activities (A) or financing activities (FA). Columns for events that have no effect on any of the elements should be len blank. The first transaction has been recorded as an example Complete this question by entering your awwers in the tale below Heq Atoc Use a horontal statements made to show how each event affects the balance sheet income statement, and statement of cath Rows, indicate whether the event increase (t) or decrem the ancial statements. In the statement of Cash Flows column, dassify the cash flows as operating activities (OA), inviting activities (IA) or hinancing activities (FA), Columns Foreve any of the elements should be a blank. The brut transaction has been recorded as an example, not at a cells wil an input.) Evin Asus DARBY COMPANY Herhantal Statement Model for You Balance sheet Libilities Stockholders Equity Rre Notes Interest Corona. Recimed Payable Payable Stock Earnings 1 . Income Street Expense Net Income Statement of Cash Flow NO Cash 2 1 + Reg A10 Step by Step Solution
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