paying your bills on time if not your credit will go down
All of them could work together by saving time helping each other cooking and serving food
Answer:
61,198.47
Explanation:
First we solve for the present value of the note receivables at January 1st, 2021 As we are asked for the interest revenue on the 2021 incoem statment
Maturity $750,000.00
time 2.00
rate 0.10000
PV 619,834.7107
now, we calcualte the interest considering the 10% implicit interest
619,834.7107 x 0.10 = 61,198.47
This will be the interest revenu for the year 2021
Answer:
The answer is $119,000
Explanation:
cost of merchandise sold = Sales - Gross profit.
To find gross profit:
Gross profit rate x sales
0.42 x $1,450,000
= $609,000.
Now to calculate Cost of Sales:
Cost of Sales = Sales - gross profit
$1,450,000 - $609,000
$841,000
Now to calculate Estimated ending merchandise inventory:
Beginning merchandise inventory + purchases - cost of sales
=$100,000 + $860,000 - $841,000
=$119,000