On november 1, 2021, a company signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on may 1, 2022. the company should report interest payable at december 31, 2021, in the amount of:

The correct answer to the following question is $1000.

Explanation:

Given information -

Note payable amounted to $100,000 with 6% interest rate

Duration of  note payable = 6 months

For calculating the interest  payable on December 31, 2021 -

Amount of note payable x interest rate x number of months

Note - here we have to take out interest for 2 months ,so the calculation would be -

$100,000 x 6% x 2/12

= $6000 / 6

= $1000

Therefore the amount of interest payable on December , 2021 is $1000

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.