At the end of five years, the total number of dollars in this investment would be $137,843.79.
<h3>What would be the value of the account at the end of 5 years?</h3>
When the account is compounded bi-monthly, it means that the amount invested and the interest already earned increases in value by 1% every two months.
The formula for calculating the amount that would be in the investment after years is>
FV = P (1 + r)^nm
- FV = Future value
- P = Present value
- R = interest rate
- m = number of compounding
- N = number of years
$24,000(1.01)^(5x6) = $137,843.79
To learn more about future value, please check: brainly.com/question/18760477
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I think it’s b it is the most right played out
Answer:
Wages Expense debit $8,000
Wages Payable credit $8,000
Explanation:
At the end of December 31, which is a Thursday, workers would have worked 4 days out of a 5-day week, which implies we need to recognize wages for the 4 days because it has been incurred even not yet paid
Wages for 4-days=$10,000*4/5
Wages for 4-days=$8,000
We would debit wages account with $8,000 since an increase in an expense account is a debit entry while wages payable would be credited since it is an increase in liabilities
Answer: c. The subscription began about 10 days before the 15th of the month.
Explanation:
With the first month's payments being pro-rated for the amount due up until the 15th of the month plus the next month's bill amount payments, the likely possibility is that the customer started their first subscription 10 days before the 15th of the first month.
This would then mean that they were charged the daily rate for each of those 10 days which amounted to $15. The daily rate can be calculated by dividing $45 by 30 days because $45 is the rate for the month according to the question.
= 45/30
= $1.5 a day.
