answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SOVA2 [1]
2 years ago
15

Tolino Company signed a 5-year note payable on January 1, 2019, of $200,000. The note requires annual principal payments each De

cember 31 of $40,000 plus interest of 6%. The entry to record the annual payment on December 31, 2020, includes:
Business
1 answer:
konstantin123 [22]2 years ago
8 0

The following journal entry will be passed in the books of accounts and the interest expense is calculated to an amount of $9600

<u>Explanation:</u>

Given data:

amount of note: $200000, annual principal payments to be made each year at December 31st = $40000, interest amount to be charged = 6 percent, duration of note = 5 years

the following calculation is made in order to find out the amount of interest:

Amount of note minus principal payment multiply with rate of interest

now, putting the figures in formula:

interest = 200000 minus 40000 = $160000 multiply with .06 = $9600

Thus, the interest amount = $9600

The interest expense will be debited with an amount of $9600 in the books of accounts.

You might be interested in
“i know headquarters wants us to add that new product line,” said dell havasi, manager of billings company’s office products div
Vikentia [17]
<span>I tried to compute office products division’s RIO but my calculations went wrong, I tried to take help from my instructor but I couldn’t manage to contact him as it was weekend then I searched for online help and got the detailed answer at http://www.solutioninn.com/i-know-headquarters-wants-us-to-add-that-new-product-line  </span>
4 0
1 year ago
Read 2 more answers
Helen is a U.S. citizen and a CPA who moved to London, England, three years ago to work for a British company. This year, she sp
True [87]

Answer and Explanation:

$102100 is the foreign earned income exclusion limit for 2017 , therefore Helen who is a U.S. citizen can exclude $102100 from gross income in the U.S.

7 0
1 year ago
NBB's focus on sustainability, whimsy, and fun is clearly rooted in its Colorado-based culture and the ethos of its founders and
Assoli18 [71]

Answer:

To help expand New Belgium’s brand(NBB) image to consumers in different other parts of the country, NBB will have to link advertisements to the company’s social network pages. This would be the most efficient and effective way to stream advertisement to new countries, or different other parts of the country.

Explanation:

NBB carries a strength of knowing their brand. With an expansion making use of branding and communication strategies, they would have succeed in their goal of being a unique culture remaining committed to their initial mission of being a fun, socially, and environmentally responsible company. For the company to maintain its whimsical and personal touch with consumers, NBB should spring forth new ideas to communicate with consumers, this will keep the customers updated and make them interested in staying loyal to the company.

8 0
2 years ago
Identify the type of sampling used​ (random, systematic,​ convenience, stratified, or cluster​ sampling) in the situation descri
Sunny_sXe [5.5K]

Answer:

Cluster sampling

Explanation:

Cluster sampling is a type of sampling in which a population is divided into groups and one whole group from the division is randomly with every member of the chosen group  involved.

As in thr question, the phone number listings have been divided into groups of 400 and her name came up in the first group of the listing divisions to be considered, hence her selection.

Cheers.

6 0
2 years ago
A hospital benchmarked against a ferrari racing team in an effort to:
Rus_ich [418]
<span>improve patient handoff quality</span>
5 0
1 year ago
Other questions:
  • Rural internet access, with one dominant provider that faces very little competition, is a good example of – market. it function
    6·2 answers
  • Which of the following is NOT a proposition of the Heckscher-Ohlin model? Countries will completely specialize in the product in
    6·1 answer
  • The efforts of employees who work directly to convert direct materials into the finished product are referred to as ______
    10·1 answer
  • Every year you pay your neighbor $150 to clean the gutters at your house. You are pretty good friends so you know that your neig
    10·1 answer
  • Aaron norman earned $24,900 for the year from marcus company. the company is subject to a suta tax of 4.7% on the first $9,900 o
    13·1 answer
  • 29. Maxwell is trying to decide whether to accept a salary of $60,000 or a salary of $25,000 plus a bonus of 20% of net income a
    7·1 answer
  • A German brewery orders stationery from England using an online order form.
    13·1 answer
  • You are the IT manager for the Andrews Company. A large shipment of new computers has just arrived. You notice that the inventor
    11·1 answer
  • One major reason businesses seek investment is to:
    5·2 answers
  • Pharoah Industries collected $106,000 from customers in 2019. Of the amount collected, $24,200 was for services performed in 201
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!