Longitude Company borrowed on a two-year, 10%, $150,000 note on May 1, with interest and principal to be paid at maturity. How much interest will Longitude report on its income statement for the year ending December 31?
a. $ 10,000
b. $ 15,000
c. $ 30,000
d. $ 5,000
a
You might also like to view...
Under both the periodic and perpetual inventory systems, the temporary account Purchases Returns and Allowances is used to accumulate the cost of all returns and allowances for a period.
Answer the following statement true (T) or false (F)
Javier recently noticed that Paul has not been performing up to his normal standards. After talking with him, Javier found out that he is going through a bitter divorce. As a result, he referred Paul to a counseling service provided by the company that helps employees resolve personal issues affecting their work. Javier referred Paul to ______.
A. critical care counseling B. an employee wellness program C. an employee assistance program D. divorce court counseling
Diet and feed mix problems are special classes of the general product mix problem
Indicate whether the statement is true or false
To deliver marketable title, the seller must deliver property to the buyer that is free from mortgages and other liens
Indicate whether the statement is true or false