Answer:
a. $32,800
b. $37,019
c. $37,460
Explanation:
a. The computation of Total Amount Withdrawn by Alan when simple interest is shown below:-
Accumulated amount of money = Invested amount + (Rate of interest × Number of years)
= $20,000 + ($20,000 × 8% × 8)
= $32,800
b. The computation of Total Amount Withdrawn by Alan when annually Compounded is shown below:-
Accumulated amount of money = Invested amount × (1 + rate of interest)^Number of years
= $20,000 × (1 + 0.08)^8
= $20,000 × 1.85093
= $37,019
c. The computation of Total Amount Withdrawn by Alan when semi annually Compounded is shown below:-
Accumulated amount of money = Invested amount × (1 + rate of interest × Number of years ÷ 200)^16)
= ($20,000 × (1 + 0.08 × 8 ÷ 200)^16)
= $20,000 × 1.87298
= $37,460
Therefore we have applied the above formulas.
Answer:
1. $47,255
2. Dr Cost of goods sold account $1,316
Cr Inventory account $1,316
Explanation:
Please find attached detailed solution to the above questions and answers.
Answer:
Option A : Because at zero profit, with her revenue, she can cover all her costs—explicit and implicit (opportunity cost).
Explanation:
Perfectly Competitive Market
This is simply a market the market participants are said to be price takers that is no consumption decisions by individual consumers and no production decisions by individual producers can be able to affect the market price of a good.
Perfectly Competitive Industry
This is simply an industry where producers are said to be price takers.
Explicit Costs
These are costs that are simply known as "out-of-pocket" costs or in accounting costs. They are an individual's fixed and variable costs of doing business.
Implicit Costs
These are costs that do not partains to monetary payment as they are the opportunity costs of doing business.
It is said that at zero profit, the revenue covers all the costs, including the implicit ones. The fact that her implicit costs are covered shows that no outside option or opportunity that is superior to the zero economic profit option is chosened.
