The Bravo Company note receivable account has a balance of $400000 at December

The Bravo Company note receivable account has a balance of $400000 at December 31 year end. The notes receivable account
consists of two notes both of which originated during the current year. The first is a $100000 dated October 31 with principal and 6% interest payable
on October 31 one year later. The second is a $300000 note dated March 31 2012 with principal and 8% interest payable on March 31 one year later. These
were the only two notes that Bravo had during the year. How much interest revenue will appear in Bravo%u2019s current year income statement? Answer $19000 interest revenue $30000 interest revenue $11000 interest revenue
$0

Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The company began 2013
with $59000 in inventory of its only product. The beginning inventory consisted of the following layers:

During 2013 6000 units were purchased at $8 per unit and during 2014 7000 units were purchased at $9 per unit.
Sales in units were 7000 and 12000 during 2013 and 2014 respectively. What is the cost of goods sold for 2013 and 2014.
Answer 2013 = $43000; 2014 = $90000 2013 = $55000; 2014 = $97000 2013 = $54090; 2014 = $92727 2013 = $45000; 2014 = $80000

Compute the missing amounts
Answer Gross purchases = $118; Sales = $103 Gross purchases = $125; Sales = $95 Gross purchases = $95; Sales = $111 Gross purchases = $113; Sales = $135

Hazelton Corporation uses a periodic inventory system and the LIFO method to value
its inventory. The company began 2013 with $59000 in inventory of its only product. The beginning inventory
consisted of the following layers:

During 2013 6000 units were purchased at $8 per unit and during 2014 7000 units
were purchased at $9 per unit. Sales in units were 7000 and 12000 during 2013 and 2014 respectively. What is
the cost of goods sold for 2013 and 2014.
Answer 2013 = $43000; 2014 = $90000 2013 = $55000; 2014 = $97000 2013 = $54090; 2014 = $92727 2013 = $45000; 2014 = $80000