1. A company buyed 2000 units of food for $300 each. The selling price is $400 for...
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1. A company buyed 2000 units of food for $300 each. The selling price is $400 for each unit. There was 70 units in the end of the year. The selling price will be reduced by 20%. Determine the ending inventory of the food.
2. There is a four year zero interest note that has a face value of $600,000 and a present value of $400,000. Effective interest rate formula for the income is $30,000. Determine the difference in income if the straight-line interest rate formula is used.
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
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