1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mash [69]
3 years ago
11

On January 1, 2015, Fullbright Company sold goods to Blue Dirt Company for $400,000 in exchange for a 4-year, zero-interest-bear

ing note with a face amount of $629,406 (imputed rate of 12%). The goods have an inventory cost on Fullbright’s books of $240,000. What amount of Interest Revenue should Fullbright recognize in 2015?
$ 57,352
$229,406
$ 75,529
$ 48,000
Business
1 answer:
icang [17]3 years ago
7 0

Answer:

correct option is $ 48,000

Explanation:

given data

sold good = $400,000

time = 4 year

face amount = $629,406

rate = 12%

inventory cost = $240,000

to find out

amount of Interest Revenue

solution

we find interest revenue that is express as

interest revenue = good cost × rate

interest revenue = 400,000 × 12%

interest revenue  = $48000

so correct option is $ 48,000

You might be interested in
A pay policy line Question 36 options: can be generated using a statistical method called regression analysis. can seldom provid
pentagon [3]

Answer:

A pay policy line <u>reflects the pay structure in the market, which always matches rates in the organization.</u>

Explanation:

A pay policy line is the salary level and organization chooses to pay its employees compared to the standard salary level in the market.

Organizations would prefer not to overpay or underpay their employees. Therefore they consider the standard pay structure of the market and match the amount they pay their employees to this structure.

8 0
3 years ago
Producer surplus is the difference between the _____ price and the minimum price at which a producer would be willing to sell a
gogolik [260]

Answer:

Market

Explanation:

Producer surplus is the difference between the market price and the minimum price at which a producer would be willing to sell a particular quantity.

Producer surplus is known to be the total amount that a producer benefits or gains from producing and selling a quantity of a good at the market price. The total revenue that a producer receives from selling their goods minus the total cost of production equals the producer surplus.

5 0
3 years ago
Please HELP!!!!!
mel-nik [20]
No because they aren't Fair
4 0
3 years ago
When applying the general accounting equation, if total liabilities increased by $5,000, then (select the BEST and MOST COMPLETE
lyudmila [28]

Answer:

Assets must have increased by $5,000, or stockholders' equity must have decreased by $5,000

Explanation:

The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity.

This may be expressed mathematically as

Assets = Liabilities + Equity

As such, an increase in total liabilities by $5,000 from the options given means that assets must have increased by $5,000, or stockholders' equity must have decreased by $5,000, this way, the accounting equation stays true.

7 0
3 years ago
Bay crab processor has a contract with jim, a local crabber, to buy all the crabs jim catches during the season for 35 per bushe
vichka [17]
The answer to this question is the "output contract". This is a mutual agreement between the producer of the product and the buyer. The producer agrees that he will sell all his product to the buyer and the buyer agrees that he will buy all the product delivered to him by the producer. Thus, to complete the sentence we have it "<span>Bay crab processor has a contract with Jim who is a local crabber and inform Jim that he will buy all the crabs. Then, Jim catches during the season for 35 per bushel. this is an example of an OUTPUT contract.</span>"
3 0
3 years ago
Other questions:
  • ​McArthur, Inc. plans to develop a shopping center. In the first​ quarter, the following amounts were​ spent: Acquisition of lan
    8·1 answer
  • Which of the following statements is false with respect to bonds? a. Firms issue bonds in very large single issues. b. The denom
    12·1 answer
  • Coates Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. T
    11·1 answer
  • Select all that apply What is the difference between an adjusted trial balance and an unadjusted trial balance? (Check all that
    10·1 answer
  • In 2019, Sayer, who is single, have an outright gift of $53,000 to a friend, Johnson, who needed the money to pay medical expens
    11·1 answer
  • Common stock with a total par value of $50,000 (par value of $0.50 per share) have been issued, and 5,000 shares of treasury sto
    7·1 answer
  • Avery Co. has $1.1 million of debt, $1 million of preferred stock, and $2.2 million of common equity. What would be its weight o
    10·1 answer
  • A shift towards a higher proportion of sales of products with a higher contribution margin per unit will most likely result in a
    12·1 answer
  • Discuss and develop a theoretical network architecture for a small business in the area that wishes to expand into new facilitie
    7·1 answer
  • The process of sending and receiving messages without using any spoken words defines _____.
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!