On january 1, 2016, cobb co. received, for the sale of a parcel of land, a ten-year note receivable having a face amount of $2,000,000 and a stated interest rate of 8% payable annually each december 31. the market rate of interest for this type of note is 10%. present value factors are as follows: at 8% at 10% present value of 1 for 10 periods 0.46319 0.38554 present value of an ordinary annuity of 1 for 10 periods 6.71008 6.14457 the amount to record as proceeds for the sale of the land is: a) $2,000,000 b) $1,960,200 c) $1,840,000 d) $1,754,211 e) none of the above

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:

Accublade castings inc. casts blades for turbine engines. within the casting department, alloy is first melted in a crucible, then poured into molds to produce the castings. on may 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. the work in process balance for these 230 pounds was $32,844, determined as follows: exercises during may, the casting department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. factory overhead is applied to the department at a rate of 150% of direct labor. the department transferred out 2,530 pounds of finished castings to the machining department. the may 31 inventory in process was 44% complete as to conversion. prepare the following may journal entries for the casting department: the materials charged to production the conversion costs charged to production the completed production transferred to the machining department determine the work in process"casting department may 31 balance.

Kando company incurs a $9 per unit cost for product a, which it currently manufactures and sells for $13.50 per unit. instead of manufacturing and selling this product, the company can purchase product b for $5 per unit and sell it for $12 per unit. if it does so, unit sales would remain unchanged and $5 of the $9 per unit costs assigned to product a would be eliminated. 1. prepare incremental cost analysis. should the company continue to manufacture product a or purchase product b for resale? (round your answers to 2 decimal places.)