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QUESTION 1 Your company borrows $150,000 on September 1, 2019 and signs a note payable. The annual interest rate is 5%. Principal and interest are
QUESTION 1 Your company borrows $150,000 on September 1, 2019 and signs a note payable. The annual interest rate is 5%. Principal and interest are due February 29, 2020. Your company only makes adjusting journal entries at year-end. What is the debit to interest Expense for interest due on this Note Payable on December 31, 2019? QUESTION 2 Your company has outstanding 1,000,000 shares of $1 par value common stock. On January 1, your company buys back 100,000 shares at $8 a Share On July 1, your company sells 10,000 of those shares for $14 a share. How much is the credit to Paid in Capital from Treasury Stock on July 17 QUESTION 3 You are preparing your company's statement of cash flows. You see that Equipment increased by $100.000 and that depreciation expense during the year was $15.000. If your company did not sell any equipment, issued a note payable for $10,000 in equipment and paid the rest in cash for any new equipment, how much cash did they spend on equipment during the year? QUESTION 4 Click Save and Submit to one and submit Click Save AI A T S MacBook Air
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