Beatrice would have earned $57.33 over a 6-year period if the interest had been compounded annually.
<h3><u>
What is interest?</u></h3>
- The fee paid for the privilege of borrowing money is called interest, and it is often stated as an annual percentage rate (APR).
- The compensation a lender or financial organisation receives for giving out money is called interest.
- The percentage of a stockholder's ownership in a corporation that is also referred to as interest.
- Simple and compound interest rates are the two basic types that can be used with loans.
- Simple interest is a predetermined percentage of the principal that was initially lent to the borrower that the borrower must pay in exchange for access to the funds.
Interest that is paid on a loan that includes both principal and compounding interest is known as compound interest. The second kind of interest is less typical than the first.
Now, calculating compound interest:
1430 (.05 × 6) + 1430 = 1859
1430 × 
= 1,916.33
1916.33 - 1859 = 57.33
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Answer:
The equivalent units of production for the month, assuming the company uses the weighted average method is 26,400 units.
Explanation:
The equivalent units of production for the month when the company uses the weighted average method is the addition of the units completed and transferred to next stage and degree of completion of the units in ending Work in Process inventory.
This can therefore be calculated as follows:
Equivalent units of production for the month = Units completed and transferred to next stage + Units in ending Work in Process inventory
Since,
Units completed and transferred to next stage = 16,500 units
Units in ending Work in Process inventory = 16,500 * 60% complete = 9,900 units
Therefore, we have:
Equivalent units of production for the month = 16,500 + 9,900 = 26,400 units
Therefore, the equivalent units of production for the month, assuming the company uses the weighted average method is 26,400 units.
Answer:
a) Journal entries to record the sale on January 2, 2020:
Debit Accounts Receivable with $407,000
Credit Sales Account with $368,500
Credit Deferred Revenue (Installation Fee) with $38,500
Being sales of goods and installation services.
b) Income Statement for 1st Quarter of 2020
Sales - $368,500
Installation Fee - $19,250
Total Income - $387,750
less cost of sales - $320,000
Net Income - $67,750
c) The revenue Shaw should recognize in relation to the sale to Ricard is $387,750 (goods and accrued installation fee). The installation fee to be recognized is for 3 months only.
Explanation:
The installation fee is for 6 months. Therefore, 3 months' worth of fee will be recognized in the income statement ending on March 31, 2020.
Most organizations expect their employees to abide by AUPs.
Answer:
the questions seems to be incomplete, so I looked for similar ones:
the total benefit of the project is estimated at $18 x 170 = $3,060
the result is probably lower than expected because:
- this is an nonexcludable good, and it is nonrival in consumption
- the free rider problem occurs here
- college administrators should not carry out the project id they only base their decision on expected benefit
Explanation:
