Amount of accrued interest payable problem

Reference no: EM13137962

Phipps Company borrowed $25,000 cash on October 1, 2009, and signed a six-month, 8% interest-bearing note payable with interest payable at maturity. Assuming that no adjusting entries have been made during the year, the amount of accrued interest payable that should be shown on the 2009 balance sheet for the year ended December 31, 2009 is ?

Reference no: EM13137962

Questions Cloud

What is tachibana corporation taxable income : entertainment expenses, $3,000 for premiums on officers' life insurance policies (the corporation is the beneficiary for these policies), and $100 for fines. What is Tachibana Corporation's taxable income?

Define and design a hollow steel shaft to transmit : Hollow shaft transmitting power with shear limits. Design a hollow steel shaft to transmit 300 hp at 75 rpm without exceeding a shear tress of 8000 psi. Use 1.2:1 as the ratio of the outside diameter to the inside diameter.

Describe the strengths and weaknesses of the aggregate : analyze and describe the strengths and weaknesses of the aggregate and the community where the aggregate resides

The bisulphite of soda : The bisulphite of soda couldn't be seen on a reasonable inspection by either the retailer or the buyer.

Amount of accrued interest payable problem : Phipps Company borrowed $25,000 cash on October 1, 2009, and signed a six-month, 8% interest-bearing note payable with interest payable at maturity. Assuming that no adjusting entries have been made during the year, the amount of accrued interest ..

Waht impact will these cost changes have on operating profit : Suppose that fixed costs for the year are 10 percent lower than projected, and variable costs per unit are 10 percent higher than projected. Waht impact will these cost changes have on operating profit for the year?

Compute the maximum bending stress at mid-span : Calculate the maximum bending stress at mid-span, and, for the same section, locate the neutral axis. Neglect the weight of the beam

Labor price and quantity variances : a. What were QuickyLube's labor price and quantity variances for the most recent week? b. What factor(S) could explain QuickyLube's labor variances?

Most pasifika people are passive : Most Pasifika people are passive, but not all. There is a divide between passive people who live with an 'old' mindset and modern, usually younger people who have a modern mindset and are more likely to be assertive about their role and responsibilit..

User Account

All Pages