Answer:
$3,176 , it's two months of interests $1,588 + $1,588
Explanation:
If the company paid each month 1/12 of capital plus interest it means that it's necessary to deduct the total amount of interests paid each month.
The company paid $25,588 and the monthly capital it's $24,000, therefore the company paid on interest an amount of $1,588 each month.
The issue of a one year installment note means that the company repay the principal to the lender in a series of periodic payments, in this case each month pay principal plus interests
In the income statement we have to applied the accrual criteria which means that the company only recognize the interest paid in the past months, November and December.
Answer: D) the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services
Explanation:
The profit is the difference between the income and the expenses as:
Profit = Income - expense
Income is money that one earn profit in their business and expenses are the money which we spend. And your total income is your revenue. And if the number is in positive value then, it makes profit. Therefore, (D) is the correct option.
Answer:
Cost of merchandise sold = $483 , Closing stock = $227
Explanation:
Perpetual inventory system includes updates done, when sale or purchase transaction happens
Opening Stock = 26 units (price 15). Value = 26 x 15 = 390
Sale = 13 units, price 15. So, sales cost value = 13 x 15 = 195
Purchase = 20 units (price 16). Value = 20 x 16 = 320
Sale = 18 units, price 16. So, sales cost value = 18 x 16 = 288
Total sales cost value, or cost of merchandise sold = 195 + 288 = 483
Closing stock = Opening stock + purchase - sales cost
= 390 + 320 - 483
= $227
I believe the answer is -A!
Have a Warm and Wonderful Day!!
Answer:
$4,000
Explanation:
P- percent
r-rate
t-time
P: 10000
R:8 but u have to move it two spots so it would be 0.08
T:5 years
10,000(0.08) (5) = 4,000
$4,000
That's how I do it. I hope it helps!
