%24%24%240010. October 27, 2010120 daysFebruary 24, 2011From the information given below, calculate the accrued interest for the following notes (round to two decimal places, if necessary). Assume 360 dain a year.:InterestAccruedPrincipalRateTimeInterest11.$2,2009.5%45 days12.2,50012.5%60 days10.75%90 days3.30 days2414.15.120 daysPreviousNextSubmit Test for GradiAll work saved.dpdeletehomeprt sc144114 04backspace65.D.

accrued interest are those interest that has not been paid but it needs to be paid in the future.…

Answered: %24 %24 %24 00 10. October 27, 2010 120…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Complete the following without using Table12.1. Note: Round the "Total amount" and "Total interest" to the nearest cent. Principal: $1,360 Time (years): 1 Rate of compound interest: 10% Compounded: Quarterly Periods: Rate: % Total amount: Total interest: Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.25.97 1.2773 1.2950 1.3129 1.3310 4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877…
E10-3A Accrued Interest Payable Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on December 31: Lender Date of Note Principal Interest Rate Term Maple 11/21 $18,000 11% 120 day Wyman 12/13 14,000 8 90 days Nahn 12/10 16,000 12 60 days
What is $425 to be received at the end of the year worth on January 1, assuming 6% interest compounded quarterly (rounded to nearest dollar)? $400 $370 $318 $100
The exact simple interest of P7,000 invested from April 28, 2002 to December 25, 2002 is P700. What is the rate of interest? percent=? round 2 decimal place
E10-2A Maturity Dates of Notes Payable Determine the maturity date and compute the interest for each of the following notes payable with add-on interest: Date of Note Principal Interest Rate Term August 5 $15,000 9% 120 days May 10 8,400 7 90 days October 5 12,000 9 45 days July 6 4,500 10 60 days September 15…
If a principal of P3840 earns interest of P204 in 3 years and 5 months, what is the simple interest rate in effect? In 2 decimal places in percent
Hide or show questions Progress:28/29 items Determine the due date and amount of interest due at maturity on the following notes. Assume 360 days per year. OriginationDate FaceAmount Termof Note InterestRate MaturityDate InterestAmount a. Mar. 15 $8,000 60 days 9% $fill in the blank 2 b. May 1 $12,000 90 days 8% $fill in the blank 4
43. Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $1,000 8% March 08 June 09 TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11 42…
For each notes receivable determine the interest revenue to be reported on the income statement for the year ended December 31. Use 360 days in your computations. date Face Rate% Term aug. 8. 45000. %7. 45days Oct. 7 62000 5 60 jan 6 28000 4 120 nov 12 43000 6 60
19. On January 1, 2010, West Co. sold equipment for a $400,000 zero-interest-bearing note dueon January 1, 2013. The prevailing rate of interest for a note of this type at January 1, 2010 was10%. What amount of interest revenue should be included in West's 2011 income statement?a. $0b. $30,000c. $33,000d. $40,000
Presented below are the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.)Date ofNote Terms Maturity Principal Annual Interest Total Interest Date RateApril 1 60 days ? $600,000 9% ? July 2 30 days ? 90,000 ? $600March 7 6 months ? 120,000 10% ?
44. Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate Date borrowed date repaid exact time interest maturity value $1,000 8% March 8 June 9 TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11 42…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS