CengageNOWv2| Online teaching and learning resource from Cengage Learning D Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $22,100. What is the amount of sales discount allowable? Ca. $214 b. $162 Cc. $225 Od. $442 If the market rate of interest is 7%, the price of 6% bonds paying interest semiannually with a face value of $500,000 will be a. equal to $500,000 Ob. greater than $500,000 c. less than $500,000 d. greater than or less than $500,000, depending on the maturity date of the bonds inal Exam Practice CengageNOWv2 | Online teaching and learning resource from Cengage Learning The charter of a corporation provides for the issuance of 90,748 shares of common stock. Assume that 41,584 shares were originally issued and 3,006 were subsequently reacquired. What is the amount of cash dividends to be paid if a $4 per share dividend is declared? a. $166,336 b. $362,992 c. $12,024 Od. $154,312 2 < to be A machine with a cost of $76,308.00 has an estimated residual value of $5,720.00 and an estimated life of 6 years or 19,547 hours. It is depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 3,677 hours? Do not round your intermediate calculations. $14,354.35 $23,529.33 $13,278.36 $11,764.67 C O A sales invoice included the following information: merchandise price, $11,100; terms 1/10, neom; FOB shipping point with prepaid freight of $458 added to the invoice. Assuming that a credit for merchandise returned of $2,200 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? Oa. $11,100 Ob. $11,442 Oc. $2,200 Od. $9,269 ce Cengage Learning The Boxwood Company sells blankets for $40 each. The following was taken from the inventory records during May. The company had no beginning Inventory on May 1. Date Blankets Units Cost May 3 Purchase 10 $15 10 Sale 3 17 Purchase 9 $16 20 Sale 5 -23 Sale 2 30 Purchase 8 $22 CO Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. a. $45 b. $80 Oc. $176 d. 532