The value of money decreases rapidly
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Answer:
Current liabilities:
Notes payable $8,000
Non-current/long-term liabilities:
Notes payable $1,224,000
Explanation:
The actual amount of notes payable at 31st December is the difference between the short-term debt and the amount of cash realized from the issue of common stock whose proceeds are meant to be used in liquidating the short-term debt.
The actual amount of notes payable=$1,232,000-$1,224,000=$8,000
By issuing common stock of $1,224,000 to repay the short-term debt,the $1,224,000 is effectively converted to funding of long-term nature,hence classified as long-term liabilities
Answer choreographing a dance step by step
Answer:
Total amount at the end of 4 years = $135.16
Explanation:
A simple interest account pays interest on only the sum deposited at an annual rate for a specified period of time without compounding or adding the interest earned in a particular period in the calculation of interest earning for the next period. Thus, if 1000 is invested and interest s earned at 10% then the interest earned will remain constant for every period the money is still deposited in the account.
The formula to calculate interest under simple interest method is,
Interest = Principal * Annual Rate * Time in years
Total Interest earned = 109 * 6% * 4
Total interest earned = 26.16
Total amount at the end of 4 years = Principal + Interest
Total amount at the end of 4 years = 109 + 26.16
Total amount at the end of 4 years = $135.16
