West Company borrowed $48,000 on September 1, Year 1 from the Valley Bank. West agreed to pay interest annually at the rate of 9% per year. The note issued by West carried an 18-month term. Based on this information the amount of interest expense appearing on West's Year 1 income statement would be:

Answers

Answer 1

Answer:

$1,440

Step-by-step explanation:

Given:

Borrowed amount by west company from valley bank = $48,000

Interest is paid annually = 9% per year

Time period = From 1st September to 31st December

                    = 4 months

The note issued by West carried an 18-month term.

Therefore,

Interest expense = Principal amount × Rate × Time period

                            = $48,000 × 9% × (4 ÷ 12)

                            = $48,000 × 0.09 × (1 ÷ 3)

                             = $1,440

Therefore, the amount of interest expense that will be reported on West's income statement for Year 1 is $1,440.


Related Questions

True or false
Quotient x Remainder + Dividend - Divisor​

Answers

ANSWER: false

EXPLANATION: s not true that Dividend over Divisor is equal to Quotient plus Remainder. For example if 37 is divided by 8 , then quotient is 4 and remainder is 5 .

Please help meeeeeeeeeeeeee

Answers

Answer:

⅓,⁵/12,⁵/24,⁷/48

You can think about them like if they are more or less than the half of the fraction

1. The miles traveled in 5 hours at a rate of 189 miles in 3 hours?

Special gift if you answer it right!

Answers

Answer:

312 miles were traveled in 5 hours

Step-by-step explanation:

ar can drive 90 miles on 3 gallons of gas. How
many miles can be driven with 11 gallons of gas?

Answers

90* 3 = 30
30 x 11 = 330
330 miles

Can you please tell me the answer please

Answers

Answer:

34°

Step-by-step explanation:

21x - 1 + 11x +1 + 26x + 6 = 180

58x -1 +1 +6 = 180

58x +6 = 180

58x = 174

x = 3

11 × 3 + 1 = 34

what is the distance between the two numbers on a number line

−7,−3 2/3

Answers

Answer:

5/21

Step-by-step explanation:

Take -3/7 and -2/3 subtract them. (-3/7) - (-2/3) find a common denominator and alter fractions based on it. -9/21 + (14/21)

If a person can paint a hall in 10 hrs, what is her rate?

Answers

I don't know if this is a question that deserves an answer but I say a 2 out of 5 .

o
Addison is considering two sales jobs. She
estimates her total monthly sales will average $18,000. Which job should Addison take if she wants to earn more money each month? How much more will she earn?

A commission of 24% of her total
monthly sales.

Salary of $4,000 with a commission of 12.25% on her total monthly sales
over $14,500.


Answers

Answer: job 2     $ 108.75

Step-by-step explanation:

The total income after adding commission will be $5776.25.

What is an expression?

The mathematical expression is the combination of numerical variables and operations denoted by addition, subtraction, multiplication, and division signs.

Mathematical symbols can be used to represent numbers (constants), variables, operations, functions, brackets, punctuation, and grouping. They can also denote the logical syntax's operation order and other properties.

Given that salary of $4,000 with a commission of 12.25% on her total monthly sales of over $14,500.

Total income will be calculated as:-

Total income = 4000 + 12.25% of 14500

Total income = 4000 + 1776.25

Total income = $5776.25

Therefore, the total income after adding the commission will be $5776.25.

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How much of the circle is shaded? Write your answer as a fraction in simplest form.

Answers

Answer:

5/28

Step-by-step explanation:

[tex] \frac{1}{4} + \frac{4}{7} = \frac{7 + 16}{28} = \frac{23}{28} \\ 1 - \frac{23}{28} = \frac{5}{28} [/tex]

Pls help ASAP I don’t get it

Answers

Look at the picture attached down here. You can see the Venn Diagram fully completed. As you can see the brown part is the empty loop. And this is because the list of numbers given do not share 4 and 9 (6 excluded) as common multiples.

The numbers outside the circles are numbers that are not multiples of 4 or 9 or 6. It's 371 and 79. By the way, 79 is a prime number, so it's only divisors are itself and 1. 371 is not a prime number, it is divisible by 1, 7, 53, 371.

Good luck

The principal of a school is hosting a small luncheon for her staff. She plans to prepare two sandwiches for each person. Some staff members offer to bring salads and beverages.



The principal has a budget of $225 and expects at least 16 people to attend. Sandwiches cost $3 each.



Select all of the equations and inequalities that could represent the constraints in the situation, where n is the number of people attending and s is the number of sandwiches.



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Select all that apply:
A. n ≥ 16
B. n ≥ 32
C. s < 32
D. s = 2n
E. 3n ≤ 225
F. 3s ≤ 225

Answers

The constraints in the question are given by the definition of the variables;

The constraints are represented by the following equation and inequalities.

A. n ≥ 16D. s = 2·nF. 3s ≤ 225

Reasons:

The budget of the principal = $225

Number of people expected = 16 people

Number of sandwich per person = 2

Cost of each sandwich = $3

Required:

To select the inequalities that represent the situation's constraint

Solution:

The variable that represent the number of people attending = n

The number of sandwiches = s

From the question , we have;

The number of sandwich per attendee = 2 sandwiches

The total number of sandwich, s, for n attendees = 2·n

Therefore, we have;

s = 2·n

The number of people attending is at least 16, therefore;

n ≥ 16

The cost of the s sandwich = $3 × s

The total cost should be less than or equal to given budget of $225,

therefore;

3s ≤ 225

The equations and inequalities that could represent the constraints are;

A. n ≥ 16, D. s = 2·n, and F. 3s ≤ 225

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Allowance method entries

The following transactions were completed by Wild Trout Gallery during the current fiscal year ended December 31:

Jan. 19. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $2,560 cash in full payment of Arlene’s account.
Apr. 3. Wrote off the $14,670 balance owed by Premier GS Co., which is bankrupt.
July 16. Received 25% of the $26,300 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible.
Nov. 23. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,175 cash in full payment.
Dec. 31. Wrote off the following accounts as uncollectible (compound entry): Cavey Co., $11,035 ; Fogle Co., $3,275 ; Lake Furniture, $ 8,420 ; Melinda Shryer, $2,380.
Dec. 31. Based on an analysis of the $1,299,500 of accounts receivable, it was estimated that $56,500 will be uncollectible. Journalized the adjusting entry.
Required:

1. Record the January 1 credit balance of $53,800 in a T account presented below in requirement 2b for Allowance for Doubtful Accounts.

2. a. Journalize the transactions. If an amount box does not require an entry, leave it blank. Note: For the December 31 adjusting entry, assume the $1,299,500 balance in accounts receivable reflects the adjustments made during the year.
2. b. Post each entry that affects the following T accounts and determine the new balances:
3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry).
$fill in the blank 73711efa1fe301a_1
2,290,000

4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables, the adjusting entry on December 31 had been based on an estimated expense of ½ of 1% of the sales of $8,020,000 for the year, determine the following:

a. Bad debt expense for the year.
b. Balance in the allowance account after the adjustment of December 31.

c. Expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry).

Answers

Using the Allowance Method, the relevant transactions can be completed in the books of Wild Trout Gallery as follows:

1. Allowance for Doubtful Accounts

Accounts                                          Debit       Credit

Jan. 1 Beginning balance                             $53,800

Jan. 19 Accounts Receivable                           2,560

Apr. 3 Accounts Receivable       $14,670

July 16 Accounts Receivable        19,725

Nov. 23 Accounts Receivable                         4,175

Dec. 31 Accounts Receivable       25,110

Dec. 31 Ending balance          $56,500

Dec. 31 Bad Debts Expenses                   $55,470

Totals                                        $116,005  $116,005

Accounts Receivable

Accounts                                          Debit               Credit

Jan. 1 Beginning balance           $2,290,000

Jan. 19 Allowance for Doubtful           2,560

Jan. 19 Cash                                                            $2,560

Apr. 3  Allowance for Doubtful                                14,670

July 16  Allowance for Doubtful                              19,725

July 16  Cash                                                             6,575

Nov. 23  Allowance for Doubtful         4,175

Nov. 23 Cash                                                             4,175

Dec. 31  Allowance for Doubtful                             25,110

Dec. 31   Sales Revenue            8,020,000

Dec. 31   Cash                                               $8,944,420

Dec. 31 Ending balance                                 $1,299,500

Totals                                        $10,316,735 $10,316,735

3. Expected net realizable value of the accounts receivable as of December 31 = $1,243,000 ($1,299,500 - $56,500)

Allowance for Doubtful Accounts ending balance = $40,100 ($8,020,000 x 0.5%)

Allowance for Doubtful Accounts

Accounts                                          Debit       Credit

Jan. 1 Beginning balance                             $53,800

Jan. 19 Accounts Receivable                           2,560

Apr. 3 Accounts Receivable       $14,670

July 16 Accounts Receivable        19,725

Nov. 23 Accounts Receivable                         4,175

Dec. 31 Accounts Receivable       25,110

Dec. 31 Ending balance           $40,100

Dec. 31 Bad Debts Expenses                  $39,070

Totals                                        $99,605   $99,605

4. a. Bad Debt Expense for the year = $39,070

4.b. Balance for Allowance Accounts = $40,100

4.c. Expected net realizable value of the accounts receivable = $1,259,400 ($1,299,500 - $40,100)

Data Analysis:

Jan. 19 Accounts Receivable $2,560 Allowance for Uncollectible Accounts $2,560

Jan. 19 Cash $2,560 Accounts Receivable $2,560

Apr. 3 Allowance for Uncollectible Accounts $14,670 Accounts Receivable $14,670

July 16 Cash $6,575 Allowance for Uncollectible Accounts $19,725 Accounts Receivable $26,300

Nov. 23 Accounts Receivable $4,175 Allowance for Uncollectible Accounts $4,175

Nov. 23 Cash $4,175 Accounts Receivable $4,175

Dec. 31 Allowance for Uncollectible Accounts $25,110 Accounts Receivable $25,110

Accounts Receivable ending balance = $1,299,500

Allowance for Uncollectible Accounts ending balance = $56,500

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Top Kwartalan In Indonesian ☺

[tex] {5}^{5} = [/tex]

Answers

Answer:

3125

Step-by-step explanation:

5*5*5*5*5

15 and 3 are a factor of 30?

Answers

Answer:

Yes, they're.

Step-by-step explanation:

30 = 1 * 2 * 3 * 5

Help please !!!!!!!!!!!

Answers

Answer:i have no Step-by-step explanation:

a

Weiming, Farhan and Sam had some comic books.
Weiming and Farhan had 36 comic books altogether.
Weiming had 3 times as many comic books as Farhan.
Sam and Farhan had 60 comic books in total.
(a) How many comic books did Farhan have?
(b) How many comic books did Sam have?

Answers

Answer:

Farhan had 9 comic books

Sam had 51 comic books and lived in his Mother's basement

Step-by-step explanation:

W + F = 36

W = 3F

3F + F = 36

F = 9

W = 27

S + F = 60

S + 9 = 60

S = 51

Can somebody help me with number 5 and number 8

Answers

Answer:

8.b. 5.d

Step-by-step explanation:

I think. because of space is not to famielier on me and between of point i think

Evaluate.
-8+ (6 + 4) = (-2)
0 – -13
-
-
o - 4
0 -3
-
o - 1

Answers

-13 is the write awnser

Answer:

-13

Step-by-step explanation:

Step 1: Evaluate the terms in parenthesis

6+4=10

The expression becomes -8 + 10 ÷ (-2)

Step 2: Division

10 ÷ (-2) = -5

The expression becomes -8 + (-5)

Step 3: Subtraction

-8 - 5 = -13

Help I’ll give BRAINLIEST

Answers

Step-by-step explanation:

Let's rewrite the original equation as

[tex]y - 2 = 2x + 6 \Rightarrow y = 2x + 8[/tex]

or in standard form, our equation becomes

[tex]2x - y = -8[/tex]

where A = 2, B = -1 and C = -8

Ms.Taylor buys 8 picture books and 12 marker

Answers

Answer:  Ms.Taylor buys 8 picture books and 12 markers from a book store.The price of a book is $17.85 and the price of a marker is $2.25. Calculate the total amount Ms.Taylor spends.

142.8 is the book price 27 is the marker price added together equal 169.8

Step-by-step explanation:

Answer:

$169.80

Step-by-step explanation:

Ms.Taylor buys 8 picture books and 12 markers from a book store.The price of a book is $17.85 and the price of a marker is $2.25. Calculate the total amount Ms.Taylor spends.

17.85*8=142.8

2.25*12=27

142.8+27=$169.80

can someone plz help me with this!!!

Answers

2 is the correct answer of this question

Factor.

2xy+5x−12y−30



Enter your answer in the box.

Answers

(2y+5)(x−6)

not rlly sure tho

Which pair of
Traingle can be proved counter to bySSS

Answers

Answer:

all three pairs of sides are congruent

What are the measures for the nuber angles

Answers

1. 75

2. 105

3. 105

4. 75

6. 105

7. 105

8. 75

Sue's paycheck is $1,040 for 40 hours of work. If she works 30 hours next week, what will her paycheck be?

Answers

Answer: 780

Step-by-step explanation:

1040/40 = 26

If Sue's paycheck contains $1,040 for 40 hours then she gets pay $26 for a hour.

26(30) = 780

To find what her paycheck consist of within 30 hours, you'll multiply 26, the amount she make an hour by 30, hours and you'll get 780.

find the approximate value of 2.49 and 2.98 when they are cubed​

Answers

[tex]\huge\fbox\orange{S} \huge\fbox\red{C}\huge\fbox\blue{R}\huge\fbox\green{O}\huge\fbox\gray{L}\huge\fbox\purple{L>}[/tex]

[tex]\huge\underline\mathtt\colorbox{cyan}{2.49 cubed=15.438249}[/tex]

[tex]\huge\underline\mathtt\colorbox{red}{2.98 cubed=26.463592}[/tex]

4. The effects of a certain anesthesia on patients is modeled by the rational function listed below. The
constants A and B are determined by factors such as body mass, age, etc. Suppose a patient who is
about to undergo surgery requires the constants to be A=36 and B=9. If t represents the number of
hours from the time the anesthesia enters the blood stream, and the function describes the percent
concentration needed for the anesthesia to be effective; how long can a surgery take if the percent
concentration needed for the patient to be sedated but not dead is between 4 and 6 percent? Explain
your reasoning and how you found your solution.
Model:C(t)= At/T^2+B

Answers

Answer: you will need 10

Step-by-step explanation:

I had the same problem on my hw this is what i got tell i think its correct:

Edit:

C(t)=At/T^2+B

a=36

b=9

t= how long it takes to enter blood stream

c=36/t^2 + 9

I found T to be 6 becuase I searched it up so

36/6^2=36/36=1

c=9+1

C=10

New awnser is 10

A large pool has a faucet to allow water to enter the pool and a drain to allow water to leave the pool.

Each minute, the faucet allows 1215 gallons of water to enter the pool, and the drain allows 1523 gallons to leave the pool.

What is the change in the amount of water in the pool after 112 minutes?


Enter your answer as a simplified mixed number by filling in the boxes. FRACTION PROBLEM

Answers

Answer:

-34496 gallons = 34496 gallons less

Step-by-step explanation:

In 112 minutes, 1215(112) = 136080 gallons of water is added by the faucet

In 112 minutes, 1523(112) = 170576 gallons of water are drained from the pool.

So, assuming that the pool is not completely drained in the 112 minute time interval, the change in the amount of water = 136080 - 170576 = -34496 gallons; i.e., the amount of water in the pool is 34496 gallons less.


Which of the following are not polynomials?

Answers

Answer:

A, B, D

Step-by-step explanation:

A polynomial is a 1 term or a sum of terms.

Each term is a number multiplied by 0 or more variables.

A term can never have a variable in the denominator or in any root. A term cannot have the logarithm of a variable or any trig function of a variable.

Answer: A, B, D

The super discount store s having a sale and all the clearance items are 40% off. which of the following are correct ways to find the price of an item that is normally $25.00?

A. Multiply $25.00 by 40 B. Multiply $25.00 by 0.4

C. Multiply $25.00 by 0.4 and subtract that amount from $25.00
D. Multiply $25.00 by 0.6

Answers

Answer:

Answer is C.

Step-by-step explanation:

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