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10 months ago

find the accumulated amount at the end of 9 months on an $800 deposit in a bank paying simple interest at a rate of 6% per year.

1 answer:

7 0

As per the given figure, after calculating the accumulated amount, the figure that has been arrived is $1,232.

<h3>What is the accumulated amount?</h3>

Accumulated value or accumulated amount, both are synonyms. It is used to refer to the cash value. Basically, this means there is an easy way of calculating the accumulated value.

All one has to do is to find the total or the sum of the initial investment and, in that addition, the interest which has been earned till date will be added. Formula for calculating the simple interest is

Accumulated amount =Principal amount (1+rate * time)

Here Principal amount = $800, rate= 0.06, time=9 months

Accumulated amount = 800 (1+(0.06*9) = 800 (1+ 0.54 ) = $1,232.

Thus, the accumulated amount for the given data is $1,232.

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2 years ago

Vaughn Manufacturing has estimated that total depreciation expense for the year ending December 31, 2021 will amount to $591000,

natali 33 [55]

Answer:

$915,000

Explanation:

Because half of the depreciation expense, and the expense on bonuses has already been reported by June 30,2021 (the half of the year), only hafl of the total money spent on the two items will have to be reported for the interim income statement ended on December 31, 2021:

$591,000 / 2 = $295,500

$1,240,000 / 2 = $620,000

Now, we simply add up these two figures:

$295,500 + $620,000 = $915,000

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2 years ago

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. The company paid

Murljashka [212]

Answer:

The amount to be reported as the cost of the land is $101,000

Explanation:

Given information

Paid cash - $90,000

Cost of property $7,600

Salvaged materials - $1,700

Attorney's fee for work concerning the land purchase - $1,100

Real estate broker's fee - $4,000

Architect's fee - $7,800

Put in driveways and a parking lot - $14,000

For computing the amount of the cost of the land, the Architect's fee and Put in driveways and a parking lot is not considered as it is not related to the land expenses. The computation is shown below

= Cash amount + Cost of property - Salvaged materials + Attorney's fee + Real estate broker's fee

= $90,000 + $7,600 - $1,700 + $1,100 + $4,000

= $101,000

Thus, the amount to be reported as the cost of the land is $101,000

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2 years ago

When using punishment, a manager should question 1 options: ignore undesirable behaviors. Save reprimands until the end of the w

Fofino [41]

Answer is to save reprimands until the end of the work day or preferably before a weekend this is to ensure privacy and to not embarrass or violate the employee's rights

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2 years ago

Brief Exercise 9-17 Record early retirement of bonds issued at a premium (LO9-7)

butalik [34]

Answer:

Dr Bonds payable $50,700

Dr premium on bonds payable $4,265

Cr Cash $53,000

Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965

Explanation:

The premium yet to be amortized on the bond at retirement is the carrying value minus face value i.e $54,965-$50,700=$4265

The premium on bonds payable would now be debited with $4265

The cash paid on retirement would be credited to cash account

The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.

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2 years ago