Author Question: Bankrupt & Baroque, Inc. borrowed 10,000 on January 1 from E-Z Bank for three months at a 6 ... (Read 175 times)

lidoalex · **on:** Jul 5, 2018

Bankrupt & Baroque, Inc. borrowed 10,000 on January 1 from E-Z Bank for three months at a 6 annual interest rate. The amount of interest due as of January 31 equals 200.

Indicate whether the statement is true or false

Question 2

Using the following information, what is the amount of income from operations? Purchases 32,000 Selling expense 960 Merchandise inventory, September 1 5,700 Merchandise inventory, September 30 6,370 Administrative expense 910 Sales 63,000 Rent revenue 1,200 Interest expense 1,040
a. 32,870
b. 31,910
c. 30,710
d. 29,800