Question
The Jackson Company issued a one-year $76,000 face value interest-bearing note with a stated interest rate of 9.00%. The note was issued to the Galaxy
| The Jackson Company issued a one-year $76,000 face value interest-bearing note with a stated interest rate of 9.00%. The note was issued to the Galaxy Bank on August 1, 2016. |
23.
| The amount of cash flow from financing activities on the December 31, 2016 statement of cash flows would be: |
$76,000 inflow.
$0.
$78,850 inflow.
($82,840) outflow.
24.
Required information
| The amount of interest expense and cash outflow shown on the December 31, 2016 financial statements would be: (Do not round your intermediate calculations.) |
| Interest Expense | Cash Outflow | |
| A. | $2,850 | $2,850 |
| B. | $2,850 | $ 0 |
| C. | $6,840 | $ 0 |
| D. | $6,840 | $6,840 |
Option A
Option C
Option B
Option D
25.
Required information
| The amount of interest expense and total cash outflows related to the note shown on the December 31, 2017 financial statements would be: (Do not round your intermediate calculations.) |
| Interest Expense | Cash Outflow | |
| A. | $3,990 | $82,840 |
| B. | $6,840 | $ 3,990 |
| C. | $6,840 | $76,000 |
| D. | $2,850 | $ 6,840 |
Option A
Option B
Option C
Option D
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Construction Safety Auditing Made Easy A Checklist Approach To OSHA Compliance
Authors: Kathleen Hess
1st Edition
0865876355, 978-0865876354
