Zuhoor Muscat Company borrowed RO 240,000 from the bank signing a 8%, 6-month note on October 1, 2020. The recorded amount of accrued interest expense op December 31, 2020 will be: O a. RO 9,600. O b. RO 4,800. O. RO 240,000. d. None of the options are correct. e. RO 40,000.
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- Zuhoor Muscat Company borrowed RO 300,000 from the bank signing a 8%, 3-month note on December 1, 2020. The recorded amount of accrued interest expense on December 31, 2020 will be: O a. RO 4,000. O b. None of the options are correct. O c. RO 2,000. O d. RO 300,000. O e. RO 6,000.Zuhoor Muscat Company borrowed RO 300,000 from the bank signing a 6%, 10-month note on September 1, 2020. The recorded amount of accrued interest expense on December 31, 2020 will be: O a. RO 300,000. b. RO 6,000. C. None of the options are corre d. RO 6,000. e. RO 15,000. NEXT PA here to searchZuhoor Muscat Company borrowed RO 240,000 from the bank signing a 8%, 6-month note on October 1, 2020. The recorded amount of accrued interest expense on December 31, 2020 will be: a. None of the options are correct. Ob. RO 40,000. O c. RO 240,000. Od. RO 4,800. O e. RO 9,600. NEXT PAGE 4440 025 Type here to search B. red by ws 10 S acer
- The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses?Select one:a. OMR 12,400b. OMR 1,500,000c. OMR 31,000d. None of the other pointsThe company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses? Select one: a. None of the other points b. OMR 12,400 c. OMR 1,500,000 d. OMR 31,000On June 1, 2021, Dirty Harry Co. borrowed cash by Issulng a 6-month noninterest-bearing note with a maturity value of $550,000 and a discount rate of 9%. Assuming straight-line amortization of the discount, what Is the carrylng value of the note as of September 30, 2021? (Round all calculations to the nearest whole dollar amount.) Multiple Cholce $591,250. $525,250. $508,750. $541,750.
- Jane's Donut Co. borrowed OMR 50,000 on March 1, 2018, and signed a one-year note bearing interest at 12%. Interest is payable in full at maturity on March 1, 2019. In connection with this note, how much Jane Co. would pay at March 31, 2019? Select one: A. 56,000 B. 55,000 C. 54,500 D. 57,000Salalah Co.. Borrowed RO 200,000 on 1/1 2018 and issuance notes payable. The note requires interest at 12% and principal to be paid every one year. cash on 31/12/2022 is Select one: a. None of options O b. 200000 c. 201200 d. 202400On January 1, 2019, Bank Nizwa issued CD in Muscat Securities Market which will mature in October 30, 2020. The CD pays 6% interest rate. Calculate the interest earned on this CD with face value(FV) of 50000. Assume all month to be of 30 days. Select one: O a. 1856.57 OMR O b. 1972.60 OMR O c. None of these O d. 1965.90 OMR Next page Windows bu 直 G a 4) ^
- On January 1, 2019, Bank Dhofar issued CD in Muscat Securities Market which will mature in October 30, 2020. The CD pays 8 % interest rate. Calculate the interest earned on this CD with face value of 100000. Assume all month to be of 30 days. Select one: a. None of these b. 4835.50 OMR C. 5325.40 OMR d. 5260.27 OMR65. Borrowed P100,000 by issuing a 1-year note with 7% annual interest to Century Savings Bank on October 1, 2021. What is the adjusting entry on December 31, 2021? A. Debit: Interest Expense and Credit: Interest Payable P1,750 B. Debit: Interest Expense and Credit. Interest Payable P7,000 C. Debit: Interest Expense and Credit: Interest Payable P3,500 D. Debit: Interest Expense and Credit: Interest Payable P5,2502. On July 1, 2019, XYZ Co. borrowed P2,000,000 and Issued a one-year promissory note. The lender discounted the note at 12%. (a) Give the journal entries on July 1, 2019, December 31, 2019 to accrue interest on the note and July 1, 2020, upon maturity of the note. (b) What is the carrying amount of the note payable as of July 1, 2019 and December 31, 2019. Show them in good form. *