Answer:
Total Amount after 2 years = $13196.8
Explanation:
Data Given:
Amount of savings per year = $6400
Interest rate = 6.2%
Find Total Amount in account after 2 year:
Solution:
Lets consider it step by step.
Amount of money deposited in account after 1 year = $6400
After 2 years, we earn 6.2% interest on $6400,which is:
So, after 2 years, BEFORE the 2nd deposit, we have $6400 + $396.8 = $6796.8 in the account.
AFTER 2nd deposit of $6400, total amount we have in account is:
Total Amount = $6796.8 + $6400 = $13196.8
Answer:
Debit Inventory for $1490000, debit Estimated Liability on Purchase Commitments for $290000 and credit Cash for $1780000.
Explanation:
Double entry accounting requires accounting entries to have two legs. The debit where the receiver is debited, and the credit leg where the giver is credited.
In this case Cullumber Corp made a payment of $1.78 million cash, so cash is credited for this amount.
Actual value of raw materials is $1.49 million, so as it is recieved we debit inventory for $1.49 million.
The balance which is a loss is debited from Estimated liability on purchase commitments.
The balance to be debited from this account is 1.78 million - 1.49 million= $290,000
Answer:
what are you saying you need girl or what
Answer: Improve Productivity
Explanation: Accurate inventory levels mean staff has what they need to get the job done. Having accurate knowledge of your on-hand inventory provides for an improved and more efficient reordering process.
