Answer:
Net operating income= 4,134
Explanation:
Giving the following information:
Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the tax rate is 35 percent.
Sales= 19,570
COGS= 9,460
Gross profit= 10,110
Depreciation expense= 2,130
Interest expense= 1,620
EBT= 6,360
Tax= 2,226
Net operating income= 4,134
Answer: Loss of $950
Explanation:
You bought the contract at $2.29 per bushel.
The corn contract at the time was actually $2.10.
You bought the futures contract for more than the spot price for the same time period so this is a loss.
Loss = Loss per unit * number of units
= (2.29 - 2.10) * 5,000
= 0.19 * 5,000
= $950
An arithmetic logic unit is a digital circuit used to perform arithmetic and logic operations. It signifies the essential building block of the central processing unit of a computer. The modern central processing unit contain very powerful and complex arithmetic logic unit. In addition to arithmetic logic unit, modern central processing unit contain a control unit.
Answer:
The note payable will be presented in the financial statement at the face amount minus a discount calculated at the imputed interest rate.
Explanation:
The imputed rate is the rate at which the present value of the face amount of the note will be equal to the amount at which it is originally recorded.
Notes issued or received in exchange for goods or services that do not bear interest at a fair rate are reported at an amount equal to the fair value of the note, the fair value of the goods or services, or the present value of the note using a fair interest rate, whichever is more readily determinable.
The difference between the recorded amount and the face value is considered a discount and the applicable interest rate regardless of which method is used to value the note.
Because of this, the note is reported at its face amount minus a discount calculated at the imputed interest rate.
