Jupiter, Inc. signed a one-year $44,000 note payable at 8% interest on May 1, 2016. If Jupiter, Inc. only adjusts its accounts once a year at year-end, how much interest expense was accrued on December 31, 2016?
A) $1,173
B) $3,520
C) $2,347
D) $2,933
C .Interest Expense from May to December,
You might also like to view...
When a corporation discontinues a segment of its operations at a loss, the loss should be reported as a separate item before income from continuing operations on the income statement
a. True b. False Indicate whether the statement is true or false
Which psychologist described several aspects of the human psyche based on the way in which we take in and process information?
A) Ivan Pavlov B) Abraham Maslow C) Carl Jung D) Sigmund Freud
Sean has two supervisors who both provide appraisals on Sean’s performance. On a scale of 1-5, both supervisors gave Sean a 4.2. It is likely that Sean’s performance appraisal is __________.
A. valid B. reliable C. specific D. feasible E. negative
Effective organizational design means that firms must have ________ that are consistent with their strategy.
A. organizational structures and designs B. designs and plans C. adopters and plans D. adopters and designs