Thompson Company borrowed $100,000 on a one-year, 10% note on September 1, 2012, with interest and principal to be paid at maturity. How much interest payable will be reported on Thompson's balance sheet as of November 30, 2012?
A) $ 2,500
B) $ 7,500
C) $10,000
D) $ 3,333
A
You might also like to view...
A storyboard is a series of pictures providing an overview of the structure of a television advertisement
Indicate whether the statement is true or false
Comparing activity-based management (ABM) and lean operations, all of the following are correct except
a. both identify value-adding and nonvalue-adding activities. b. ABM uses a more complex accounting system. c. both are activity-based systems. d. JIT focuses on the accuracy of cost assignment.
A(n) ____ performs tasks automatically when a particular application event occurs, such as when the user clicks a button on the screen.
A. package B. application trigger C. stored procedure D. database trigger
Which of the following statements does NOT have a faulty parallel structure?
A. The company is planning to employ an accountant and software engineer. B. Rico always has done and always will do a great job. C. Clara often talks about the time she was both popular and rich. D. The new employee is positive, enthusiastic, and has much knowledge.