# A company receives a note payable for \$3,500 at 9% for 45 days. how

A company receives a note payable for \$3,500 at 9% for 45 days. How much interest (to the nearest

cent) will the customer owe using a 360-day year?

A. \$39.38

B. \$38.84

C. \$354.38

D. \$315.00

Meranda Corporation purchases a machine for \$125,000. It has an estimated salvage value of \$10,000

and is expected to produce 50,000 units in its lifetime. During the first year of operation, it produced

14,500 units. To the nearest dollar, the depreciation for the first year under the units of production method

will be

A. \$33,350.

B. \$35,500.

C. \$36,250.

D. \$31,250.

A truck costing \$56,000 has accumulated depreciation of \$50,000. The truck is scrapped for \$0. The

journal entry to record this transaction is

A. debit Truck for \$50,000, debit Loss on Disposal for \$6,000 and credit Accumulated Depreciation— Truck for \$56,000.

B. debit Truck for \$56,000, credit Accumulated Depreciation— Truck for \$50,000, and credit Gain on Disposal for \$6,000.

C. debit Loss on Disposal \$6,000, debit Accumulated Depreciation— Truck for \$50,000, and credit Truck for \$56,000.

D. debit Accumulated Depreciation— Truck for \$50,000 and credit Truck for \$50,000.

Nick Company has cash of \$33,000; net accounts receivable of \$41,000; short-term investments of

\$15,000; and inventory of \$25,000. It also has \$30,000 in current liabilities and \$50,000 in long-term

liabilities. The quick ratio for Nick Company is

A. 1.78.

B. 2.97.

C. 3.80.

D. 3.30.

Ryan Corporation made a basket purchase of three items. Item A was appraised at \$35,000; item B

was appraised at \$55,000; and item C was appraised at \$60,000. The purchase price was \$125,000. The

amount at which item C should be recorded (rounded to the nearest dollar) is

A. \$83,300.

B. \$50,000

C. \$72,000.

D. \$29,167.

A \$400,000 issue of bonds that sold for \$363,000 matures on August 1, 2015. The journal entry to

record the payment of the bond on the maturity date is

A. debit bonds payable, \$363,000; credit cash, \$363,000.

B. debit bonds payable, \$400,000; credit cash, \$400,000.

C. debit cash, \$400,000; credit bonds payable, \$400,000.

D. debit cash, \$363,000; credit bonds payable, \$363,000.

Brandon Company completed an aging of its accounts receivable and came up with an estimated

amount of \$6,342. The credit sales for the period are \$85,000. The balance in the allowance for doubtful

accounts is a debit of \$817. If Brandon uses 5% of credit sales as its estimating uncollectable accounts,

how much will the credit be to the allowance for doubtful accounts if Brandon uses the estimate of aging

receivables as its method of estimating uncollectable accounts?

A. \$4,250

B. \$5,067

C. \$7,159

D. \$5,525

Ryan Corporation made a basket purchase of three items. Item A was appraised at \$35,000; item B

was appraised at \$55,000; and item C was appraised at \$60,000. The purchase price was \$125,000. The

amount at which item B should be recorded is

A. (\$55,000/\$95,000) × \$125,000.

B. (\$55,000/\$95,000) × \$150,000.

C. (\$55,000/\$125,000) × \$150,000.

D. (\$55,000/\$150,000) × \$125,000.

If a \$6,000, 10%, 10-year bond was issued at 104 on October 1, 2011, how much interest will accrue

on December 31 if interest payments are made annually?

A. \$104

B. \$150

C. \$500

D. None

Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

## Calculate the price of your order

Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

## Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.