Youngblood Company borrowed $100,000 on a one-year, 10% note on October 1, 2012, with interest and principal to be paid at maturity. How much interest should Stone Company report on its income statement for the year ending December 31, 2013?
A) $10,000
B) $12,500
C) $ 2,500
D) $ 7,500
D
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When using the direct method, how is the collection of cash from customers shown on the statement of cash flows?
a. Operating activity b. Investing activity c. Financing activity d. Noncash investing and financing activity
The following balance sheet information is provided for Santana Company for Year 2:Assets Cash$5,400 Accounts receivable 15,500 Inventory 18,000 Prepaid expenses 1,600 Plant and equipment, net of depreciation 20,200 Land 19,950 Total assets$80,650 Liabilities and Stockholders' Equity Accounts payable$4,500 Salaries payable 11,500 Bonds payable (due in ten years) 19,000 Common stock, no par 30,000 Retained earnings 15,650 Total liabilities and stockholders' equity$80,650 What is the company's debt to equity ratio? (Rounded to nearest whole percent.)
A. 42% B. 77% C. 130% D. 43%
The schedule of accounts payable is:
a. prepared daily. b. prepared weekly. c. prepared monthly. d. prepared semi-monthly
Which of the following is the traditional method of service of process?
A) certified mail B) certified mail, return receipt requested C) publication D) a sheriff hands the summons and complaint to the defendant