Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please please answer all three:) Current Attempt in Progress You and several classmates are studying for the next accounting examination. They ask you to answer
please please answer all three:)
Current Attempt in Progress You and several classmates are studying for the next accounting examination. They ask you to answer the following questicns 1. If cash is borrowed on a $54,000,9-month, 10% note on August 1 . how much interest expense would be incurred by December 31 ? 2. The cash register total including sales taxes is $46,515, and the sales tax rate is 5%. What is the sales taxes payable? 3. If $46,515 is collected in advanice on November 1 for 7 -month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? Cullumber Company issues $370,000.20-year, 7% bonds at 102 . Prepafe the journat entry to record the sile of these bonds on June 1 . 2022 (Credit account tibles are outamatically indented when amoent is entered Do not indent manually) Kingtird, Inc. issues 54.1 million, 10 year, 9d bonds at 102 . with interest payable on 13nuary 1. The straight-line method is eted to amortire bond premium (a) Premare the foumal entry to record the sale of these bonds on Jandary 1.2022 . Credit occount tities are outomatcaily indented when amount is entered. Do not indent manuill) Current Attempt in Progress You and several classmates are studying for the next accounting examination. They ask you to answer the following questicns 1. If cash is borrowed on a $54,000,9-month, 10% note on August 1 . how much interest expense would be incurred by December 31 ? 2. The cash register total including sales taxes is $46,515, and the sales tax rate is 5%. What is the sales taxes payable? 3. If $46,515 is collected in advanice on November 1 for 7 -month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? Cullumber Company issues $370,000.20-year, 7% bonds at 102 . Prepafe the journat entry to record the sile of these bonds on June 1 . 2022 (Credit account tibles are outamatically indented when amoent is entered Do not indent manually) Kingtird, Inc. issues 54.1 million, 10 year, 9d bonds at 102 . with interest payable on 13nuary 1. The straight-line method is eted to amortire bond premium (a) Premare the foumal entry to record the sale of these bonds on Jandary 1.2022 . Credit occount tities are outomatcaily indented when amount is entered. Do not indent manuill) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started