Answer:
$1000
$1010
Explanation:
The formula for determining simple interest = principal x time x interest rate
The formula for determining compound interest = future value - amount invested
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
1000 X 0.01 X 1 = $10
Given the figures in the question, the simple interest each year would be $10 based on $1000
But the compound interest in year 2 = 1000 x (1.01)^2 = 1020.10
1020.10 - 1000 = 20.1
compound interest in year 2 = 20.1 - 10 = 10.1
or
1010 x 0.01 x 1 = 10.1
Answer:
c. In Paulson's general ledger, the ending balance for the Cash account will be correct. However, the ending balance for the Service Revenue account will be too high and the ending balance for the Unearned Service Revenue account will be too low
Explanation:
Around 15th November, Paulson Painting endured a $6,000 cash amount from Apex Inc. in replacement for painting services to be rendered in the month of December. While posting the journal insertions correlated to this amount, Paulson's controller debits the Cash statement for $6,000 as well as charges Service Revenue toward $6,000. The statement which best describes the results of this posting is that, <u>in Paulson's general ledger, the ending balance for the Cash account will be accurate. Nevertheless, the ending balance regarding the Service Revenue account will remain extremely high as well as the ending balance for the Unearned Service Revenue account will remain extremely low.</u>
Answer:
Marginal revenue is $2.99
Explanation:
A monopoly is defined as a situation where a single supplier determines the price and amount of a good that will be supplied.
Marginal revenue is defined as the additional revenue that is earned from increased unit of sale of a product.
The initial revenue earned is 100 units* $4= $400.
The present revenue is 101 units* $3.99= $402.99
Therefore the additional revenue is 402.99-400= $2.99
Answer:
The correct answer is The opportunity cost of an additional 100 dolls increases as more dolls are produced.
Explanation:
The opportunity cost is understood as the cost incurred in making a decision and not another. It is that value or utility that is sacrificed for choosing an alternative A and neglecting an alternative B. Taking a path means that the benefit offered by the discarded path is waived.
In any decision taken there is an implicit waiver of the utility or benefits that could have been obtained if any other decision had been made.
For each situation there is always more than one way to address it, and each form offers a greater or lesser utility than the others, therefore, whenever one or the other decision is made, the opportunities and possibilities offered by the others will have been renounced, that may be better or worse (opportunity cost greater or lesser).
