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sertanlavr [38]
3 years ago
7

TRN sold $40,000, of goods and accepted the customer's $40,000 10%, 1-year note payable in exchange. Assuming 10% approximates t

he market rate of return, how much interest would be recorded for the year ending December 31 if the sale was made on June 30?a. $0.b. $2,000.c. $4,000.d. $8,000.
Business
1 answer:
drek231 [11]3 years ago
6 0

Answer:

b. $2,000

Explanation:

The computation of the interest amount is shown below:

= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)

= $40,000 × 10% × (6 months ÷ 12 months)

= $2,000

The 6 months is calculated from June 30 to December 31.

So, the b option is correct and rest options are wrong.

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svetoff [14.1K]

Answer:

All the above are correct

6 0
4 years ago
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Inventory records for Marvin Company revealed the following: Date Num of units unit cost Mar. 1 Beginning Inventory 1000 7.20 Ma
swat32

Answer:

Ending inventory= $5,040

Explanation:

Giving the following information:

Beginning Inventory= 1000 units for  $7.20

Mar. 10: Purchase= 600 units for $7.25

Mar. 16: Purchase= 800 units for $7.30

Mar. 23: Purchase= 600 units for  $7.35

Marvin sold 2,300 units.

Under the LIFO inventory method, the ending inventory cost is calculated using the first units incorporated to inventory.

Ending inventory in units= total units - units sold

Ending inventory in units= 3,000 - 2,300= 700 units

Ending inventory= 700*7.2= $5,040

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3 years ago
Groups that have a strong interest in the success and outcomes of a business, such as employees, neighbors, or government regula
timama [110]

Stakeholders are those groups that have a strong interest in the result of the project or a business.

<h2>What are stakeholders?</h2>

A stakeholder is a person or a group that has a vested interest in the course or outcome of a business and has a direct or indirect effect on the business or participates in it in one way or another.

<h3>Characteristics of stakeholders:</h3>

  • It is any internal and/or external person or organization that has or may have the capacity to affect the activity of the organization.

  • Stakeholders are members of the organization itself (managers, employees, shareholders), suppliers, consumers, neighbors and the market.

Therefore, we can conclude that all stakeholders can be classified according to their interest in the company's mission.

Learn more about stakeholders here: brainly.com/question/6867919

5 0
3 years ago
A product manager is eager to develop a new product idea. To gain approval to do so, the product manager orders the research tea
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Answer:

The answer is b. Advocacy research

Explanation:

Advocacy research is carried out with the intention of providing evidence and arguments that can be used to support a particular cause or position.

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4 years ago
Which of the following would not be reported as current liabilities on the balance sheet?
olga55 [171]
D. Accounts receivable
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2 years ago
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