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Author Question: Who is responsible for the freight costs when the terms are FOB shipping point? a. the ultimate ... (Read 89 times)

Lobcity

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on: Jul 5, 2018
Who is responsible for the freight costs when the terms are FOB shipping point?
 a. the ultimate customer
  b. the buyer
  c. the seller
  d. either the seller or the buyer

Question 2

Mariner, Inc bought a lobster boat on November 1, 2011 in exchange for a 2-month, 6, 80,000 note. The note plus interest will be repaid on January 1, 2012, the maturity date.
 
  How much interest expense should the company report on its income statement for the month ended November 30, 2011?
  A) 0
  B) 4,800
  C) 400
  D) 800


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Harbringer

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Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

C


Lobcity

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

Dinolord

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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