Answer:
B. $26680
Explanation:
FIFO (First-In-First-Out) is a method of inventory valuation whereby the inventory that comes first is used first. In other words, the oldest inventory is used first. This is common for perishable stocks which if held too long would be wasted.
Jun 1 : Beginning Inventory : 2200 units x $13 = $28600
Jun 4 : Purchases : 1700 units x $13.4 = $22780
Total units : 2200 + 1700 = 3900 units
Sales : 1900 units
Cost of Goods Sold would be:
1900 x $13 = $24700
Ending inventory:
(2200 - 1900) x $13 = $3900
1700 x $13.4 = $22780
Ending inventory : $3900 + $22780 = $26,680
Answer:
Option (A) is correct.
Explanation:
Here, the function of money that is reflected in this example is a medium of exchange.
Money is used for purchasing goods and services between the parties.
Money is mostly used as a medium of exchange. Nowadays, every individual uses money in almost every transactions because it is very convenient for the consumers and sellers of the product. Medium of exchange is a currency in which transactions takes place.
Answer:
Earns $13650 more;
To double: 14.49years at simple interest or 10.39years at compound rate.43.48years at simple interest or 20.78years at compound rate
To quadruple:
Explanation:
Using simple interest calculation:
I=PRT/100
I=Interest
P=Principal
R=Interest Rate
T=Time
Therefore I=65000*0.08*8
I=41600
Using compound interest calculation;
A=P(1+R)^T
A=Amount
A=65000(1+0.08)^8
A=65000*1.85
A=120250
I=120250-65000
I=55250
The compound interest rate earns more by (55250-41600) =$13,650
To double the interest using simple interest calculation;
65000=65000*0.069*T
T=65000/4485
T=14.49years
To double the interest using compound rate calculation:
130000=65000(1+0.069)^T
(1+0.069)^T=130000/65000
1.069^T=2
T=In(2)/In(0.069)
T=10.39years
To quadruple your money using simple rate calculation:
195000=65000*0.069*T
T=195000/4485
T=43.48Years
To quadruple your money using compound rate calculation;
260000=65000(1+0.069)^T
1.069^T=4
T=In(4)/In(1.069)
T=20.78years
Private companies are not required to publicly disclose financial information, while public companies are required by the Securities and Exchange Commission to file an annual report documenting their performance in detail.
Because private companies don’t have to disclose financial information, they can focus on long-term growth instead of making sure shareholders are getting their quarterly dividends.
Private companies don’t need shareholder approval for operational and growth strategy decisions made by the company, as long as that is stated in their corporate documents.
clearing checks
acting as government fiscal agent
supervising members bankers
regulate money supply
supply paper currency
setting reserve requirements
