Wednesday

April 1, 2015

April 1, 2015

Posted by **susue** on Wednesday, April 4, 2012 at 4:58pm.

bought 945 bushings at .35 each

bought 1130 washers at .001each

what amount should be entered in the accounts payable column of the purchase invoice register

my answer is 518.59

january 1st $100,000 note due in 9months at 9%interest rate

march 1st $75,000 note due in 6months at 12%interest rate

notes recievable

febuary 1st $60,000 note due in 3months with a 6%interest rate

what should be the entry for interest expense on march 31?

(a)debit $1500

(b)debit$750

(c)credit$1500

(d)credit$750

my answer

a

what entry should be recorded in the interest recievable account for febuary

(a)credit $300

(b)debit$300

(c)credit$900

(d)debit$900

my answer is d

how much interest income should be recorded for the year ending december 31st

(a)$900

(b)$3300

(c)$3600

(d)it depends on when the interest is paid

my answer is d

how much interest expense is recorded for the year ending december 31st

(a)$4500

(b)$6750

(c)$11250

(d)it depends on when the interest is paid

my answer is b

how much cash will be paid for the january 1st note,plus interest on october1st

(a)$11250

(b)$106,750

(c)$175,000

(d)$186,250

my answer is c

please help thanks

(c)

- bookkeeping -
**susue**, Wednesday, April 4, 2012 at 5:39pmplease someone help.really struggling with this

- bookkeeping -
**susue**, Thursday, April 5, 2012 at 12:34pmcan anyone help me

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