36. A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such
2 answers:
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Answer:
1) The net income for the period ended December 31, 2018, is 68103.
2)The total liabilities and stockholders equity is 261615.
Explanation:
1) 1920 sales revenue is an unearned revenue since delivery will be made in 2019
Interest payable on note oct 1 :Interest = [1 Oct - 31 Dec]
Interest receivable on march 1 :Interest= [1 Mar -31 -Dec]
Supplies used = 1850 unadjusted -980 ending inventory = 870
Insurance expired for the period = [1april -31 dec ]
For compounding interest, there is a formula relating the present worth (P) with the annuity (A). This is shown in the picture. The 'i' is the effective interest rate while n is the time. You should make sure that you are consistent with the units. If your time is in terms of years, your interest should be in terms of percent per year compounded yearly. Moreover, your annuity should be per yearly basis. In this case, it is already consistent so we don't need to convert. Substituting the values,
P = 10,000[(1.08^9-1)/(0.08*1.08^9)]
P = $62,468.88
P = 10,000[(1.08^9-1)/(0.08*1.08^9)]
P = $62,468.88