How much interest revenue did the company record

Assignment Help Accounting Basics
Reference no: EM131789072

Question - On October 1, 2017, Miller, Inc. made a loan to one of its customers. The customer signed a 6 month note for $ 100,000 at 13%. How much interest revenue did the company record in 2018 for this note? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

Reference no: EM131789072

Questions Cloud

Total surplus to consumers and producers of cigarettes : If the government decides to tax the consumption of cigarettes, (suppose there was not one on the market before) what will happen in the market for cigarettes?
Discuss the probability that the anticipated payments : Is TC's planned purchase of the subcomponents, along with the subsequent payment, "probable" to occur under the ASC's hedge accounting guidance?
Natural rate of unemployment for the hypothetical country : The graph below represents the unemployment rate and natural rate of unemployment for the hypothetical country of Finnistan for the past 10 years.
Static array version or the dynamic array version : You may use either of the array-based implementations-the static array version or the dynamic array version.
How much interest revenue did the company record : On October 1, 2017, Miller, Inc. made a loan to one of its customers. How much interest revenue did the company record in 2018 for this note
Discuss milestones necessary for progress : HCS 499 Capstone - Identify a clear, actionable, and measurable financial or economic goal for the organization that clearly supports the mission and vision
Implementations-the static array version : You may use either of the array-based implementations-the static array version or the dynamic array version.
What is the payback period for the new wire-pulling device : The new device has a useful life of 7 years and a residual value of $0. What is the payback period for the new wire-pulling device
The denver airport baggage system failure : Briefly describe the major factors that contributed to the failure of any one of the following: the Denver Airport baggage system failure,

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd