Answer:
Amount of cash Mick receive from the bank: $768,450
Explanation:
Given:
- $750,000 note
- interest of 9%
- n = 6 months
- Effective interest rate of 12% = 0.12
At first, we need to find out the maturity value, which is:
= $750,000 + $750,000 × 9%
= $750,000 + $67,500
= $817,500
Hence, amount of cash Mick receive from the bank:
= <em>Maturity amount - Maturity amount × effective interest rate × number of periods in year</em>
<em>= </em> $817,500 - $817,500
*0.12*
= $817,500 - $49,050
= $768,450
Hope it will find you well.
Answer:
Following are the solution to this question:
Explanation:
Calculating the cost of the product sold:
FIFO:
June 1: 23 units costing of 
each 
Aug 27: 23 units costing of each 
13 units costing of 
each 
Total cost of product sold
LIFO:
June 1: 23 units costing of each
Aug 27: 36 units costing of 
each = 540
Total cost of product sold 
Average cost:
June 1: 23 units costing of each
Aug 27: 36 units costing of 
each 
Total cost of product sold 
Answer:
$9,900
Explanation:
With regards to the above, the percentage of credit sales method estimates bad debt expense by multiplying historical percentage of bad debt losses by the current period's credit sales.
Bad debt expense = Net credit sales × Bad debt loss rate
Bad debt expense = $198,000 × 0.05
Bad debt expense = $9,900
Therefore, estimated bad debt expense for the year is $9,900
Answer:
A DEBIT to Estimated warranty liability
Explanation:
Based on the information given we were told that the company recognized an estimated warranty of the amount of $54,000 for its 2017 sales in which the year 2018 the company also repair costs of the amount of $21,000 which is related to products sold during the year 2017 which means that The journal entry to record the cost of repairs would include a debit to ESTIMATED WARRANTY LIABILITY .
Answer:
Inbound logistics ➞ Operations ➞ Outbound logistics
Explanation:
Multiple Choices are
Inbound logistics ➞ Operations ➞ Service
Inbound logistics ➞ Operations ➞ Marketing and Sales
Inbound logistics ➞ Outbound logistics ➞ Marketing and Sales
Inbound logistics ➞ Operations ➞ Outbound logistics
A value chain is an order of activities that a business perform to deliver a valuable good or service to the market. The correct order for the Value chain process is go through Inbound logistics to Operations to Outbound logistics to Marketing and Sales to Service.
So, the correct order according to value chain is Inbound logistics ➞ Operations ➞ Outbound logistics
