MCQs>Finance & Management>Accounts Payable>The Financial Statement extract of Cris & Co. has reported an interest expense of $85,000 in its Cash Flow Statements. There was no prepaid interest on interest capitalization either in the beginning or at the end of 2007. Accrued interest as on December 31, 2006 was $15,000. What will be the accrued interest as on December 31, 2007?
Accounts Payable MCQs
The Financial Statement extract of Cris & Co. has reported an interest expense of $85,000 in its Cash Flow Statements. There was no prepaid interest on interest capitalization either in the beginning or at the end of 2007. Accrued interest as on December 31, 2006 was $15,000. What will be the accrued interest as on December 31, 2007?
Answer
Correct Answer: $85,000
Explanation:
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