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uysha [10]
3 years ago
12

Samantha put $18,500 into a savings account. after one month, the savings account grew to $18,962.50. after the second month, it

grew to $19,436.56. after the third month, it grew to $19,922.48. what will be the value of the savings account after one year?
Business
2 answers:
Readme [11.4K]3 years ago
4 0

Answer: $24,747.92  

Based on the given amounts of increased in savings for the first 3 months, we have the following assumptions:

1) That the savings increase by 2.44% monthly

$18,962.50 -18,500=462.50, 462.50/18962*100=2.44%

$19,436.56--$18,962.50=$474.06, 474.06/19,436.56*100=2.44%

$19,922.48-$19,436.56=485.92, 485.92/19,922.48*100=2.44%

2) That the monthly interest for the first 3 months had an incremental of $0.30 monthly

462.50,474.06 and 485.92 has an incremental of 11.56 and 11.86 (with a difference of .30)

Continuing on with the increments gives savings of $24,747.92 in the 12th month.

Lostsunrise [7]3 years ago
3 0

$24,273.60

THIS IS THE RIGHT ANSWER!!! (:

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Journalize the following transactions assuming a perpetual inventory system:
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Answer:

May 5

Merchandise Inventory $6,000 (debit)

Freight Charges $100 (debit)

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Accounts Payable : Archie Co. $2,500 (debit)

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May 14

Accounts Payable : Archie Co. $3,500 (debit)

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Also Recognize the Freight Expenses since this is a F.O.B delivery

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De-recognize the Liability  : Accounts Payable -  Archie Co. and the Merchandise Inventory asset to the extend of Merchandise returned to Archie Co.

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Sheridan Company received $135000 in cash and a used computer with a fair value of $318000 from Carla Vista Co. for Sheridan Com
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Answer:

The gain that  Sheridan should recognize on this exchange is $135000

Explanation:

Where Exchange Transaction lacks commercial substance, the asset that is acquired is measured at the <em>Carrying Amount or Undepreciated Cost </em> of the asset given up.

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Answer:

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Cash balance June 30, 2017                                 $102,100

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