Answer:
The correct answer is $47,596.2.
Explanation:
According to the scenario, the given data are as follows:
Total amount (P)= $46,000
Rate of interest = 5.2%
Time period = 8 months
So, rate of interest for 8 months (r) = 5.2% × 8 ÷ 12 = 3.47%
Time period (t)= 1
So, we can calculate the Joe loan repayment value by using following formula:
Loan repayment value = P × ( 1 + r)^t
= $46,000 × ( 1 + 3.47%)^1
= $46,000 × ( 1.0347)^1
= $47,596.2
Same i dunno how :/ shajjabduajsjjxhcisks
Answer:
Retained earnings for year 1 would be lower by $6000
Explanation:
A change in inventory valuation method resulted in higher cost of goods sold for the previous year.
This means had the new method of inventory valuation i.e weighted average been followed, the gross profit would have been lower by $10,000.
Had gross profits been lower by $10,000 , it would've led to net income being lower by $10,000. After deduction of 40% tax rate on such income, the after tax income would've been $6000 lower.
This further means the balance of retained earnings would've been reduced by $6000.
Answer:
Gain and loss accounts
Explanation:
Gain and loss accounts are a form of temporary accounts that are utilized to gather combined sales and purchases that has an effect on the profit or loss of business activities over a given period, which is typically in a year. For example, the loss on property sold account.
Hence, in this situation, the correct answer to the question is known to be a GAIN and LOSS ACCOUNT.
Answer:
confirmation bias
Explanation:
Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms or strengthens one's prior personal beliefs or hypotheses. It is a type of cognitive bias.
