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3 years ago

The Seller holds security deposits in the amount of $1,000 from each of six tenants. On the settlement sheet:

Business

1 answer:

Oksanka [162]3 years ago

5 0

Answer:

The Seller holds security deposits in the amount of $1,000 from each of six tenants. On the settlement sheet it is Debit seller and credit buyer $6,000.

Explanation:

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Would loaning a friend $10 to buy a movie ticket be an investment? Why or why not

Luden [163]

Answer:

Explanation:

An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.

3 0

3 years ago

Given the following information, calculate the savings ratio:

inessss [21]

Answer:

$21.71%

Explanation:

Given that

Monthly saving = $760

Gross income = $3500

The computation of the savings ratio is shown below:-

Savings Ratio = (Monthly savings ÷ Gross Income) × 100

= ($760 ÷ $3,500) × 100

= $0.21 × 100

= $21.71%

Therefore for computing the saving ratio we simply divide gross profit by monthly saving and after a result we multiply by 100.

3 0

3 years ago

Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $50,000 in an investme

mel-nik [20]

Answer:

$1000000= 50000 (1+ \frac{i}{1})^{1*50}$

$20 = (1+i)^{50}$

$20^{1/50} = 1+i$

$i = 20^{1/50} -1 = 0.0617$

And if we convert this into % we got $i = APR = 6.17 \%$

See explanation below.

Explanation:

We assume that we have compounding interest.

For this case we can use the future value formula given by:

$FV= PV (1+\frac{i}{n})^{nt}$

Where:

FV represent the future value desired = 1000000

PV= represent the present value = 50000

i = the interest rate that we desire to find in fraction

n = number of times that the interest rate is compounding in 1 year, since the rate is annual then n=1

t = represent the number of years= 50 years

So then we have everything in order to replace and we got:

$1000000= 50000 (1+ \frac{i}{1})^{1*50}$

Now we can solve for the interest rate i like this:

$20 = (1+i)^{50}$

$20^{1/50} = 1+i$

$i = 20^{1/50} -1 = 0.0617$

And if we convert this into % we got $i = APR = 6.17 \%$

7 0

3 years ago

The _____ is a production period long enough for the firm to adjust the

EastWind [94]

Answer:

long run, productive resources

4 0

3 years ago

Revenues are recognized when ______, even when the cash is collected in a different accounting period than the obligation to the

Elanso [62]

The condition for which revenues are recognized even when the cash is collected in a different accounting period is;

Services are provided even if cash has not yet been collected, in cases of accrual basis accounting

<h3>Revenue recognition</h3>

Two major forms of revenue recognition exist;

When Cash is collected from customers. This is the case when the organisation uses cash basis accounting
When services are provided even if cash has not yet been collected. This is the case when the organisation used accrual basis accounting