The answer is A. 0. 6% of $42,000 is $2520. You only have $567 in medical expenses. You're expense has to be more than $2520 before you can deduct it.
Answer:
5.67 years
8.99 years
Explanation:
The relationship between future value, present value, interest rate as well as the duration of an investment(n) are depicted below with future value formula:
FV=PV*(1+r)^n
FV=future value( let us assume it is $10,000)
PV=$5,000( half of the present value)
r=13% interest rate
n=duration of the investment=the unknown
10,000=5000*(1+13%)^n
10,000/5000=1.13^n
2=1.13^n
take log of both sides
ln(2)=n ln(1.13)
n= ln(2)/ln (1.13) = 5.67 years
Triple of original investment:
FV=PV*(1+r)^n
FV=future value( let us assume it is $15,000)
PV=$5,000(one-third of the present value)
r=13% interest rate
n=duration of the investment=the unknown
15,000=5000*(1+13%)^n
15,000/5000=1.13^n
3=1.13^n
take log of both sides
ln(3)=n ln(1.13)
n= ln(3)/ln (1.13) = 8.99 years
Answer:
A. $ 268,800
Explanation:
According to the net method,
A company will report the sales after deducting the discount (if there is any discount term is given) assuming that the buyer will pay the money within the discounting period.
Therefore, Old Oak Winery will report the sale as follows:
Sales revenue = $280,000
<u>Less: Sales discount ($280,000 × 4%) = $ 11,200 </u>
Net Sales revenue = $268,800
Hence, option A is correct.
Answer:
balance sheet
Explanation:
Businesses are required to prepare a balance sheet at the end of every financial year. The balance reports the net worth of a company. It lists all the assets and their values on one side and liabilities and equity on the side. The balance sheet follows the accounting equation to indicate the total assets on one side. It shows how the assets have been financed through liabilities and equity.
Answer: 1.67 years
Explanation:
Pay back period calculates the amount of years the cumulative cash flows from an investment equals the amount of money invested.
The table attached explains how the payback was calculated.
The $3600 cost of the cart would be recouped between the first and second years. Therefore, it would be calculated as 1 year + $2400 / $3600 = 1.67 years
I hope my answer helps you.
