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77julia77 [94]
3 years ago
10

The 1997 a value of an object was $5000. In 2012 , it was worth $9500. The annual percent growth has been constant. What is the

annual percent growth?
A) 1.37%
B) 2.37%
C) 3.37%
D) 4.37%
Business
2 answers:
Mamont248 [21]3 years ago
4 0
Given:
1997 - 5,000
2012 - 9,500

9,500 - 5,000 = 4,500
2012 - 1997 = 15 years

(9,500/5,000)^1/15  - 1
1.9^1/15 - 1
1.043718 - 1 = 0.043718
0.043718 * 100% = 4.3718%  

The answer is D.) 4.37%
frez [133]3 years ago
3 0

Answer:

D. 4.37 %

Explanation:

Around 1997 the value of the object was  $5000 . it later worth $9500 in the year 2012. The period in time from 1997 to 2012 is roughly 15 years. The amount increased by 9500 - 5000 = $4500.

The annual percentage growth is constant . That means the percentage growth for each year is constant. The annual percentage growth can be computed as follows:

f = final value

i = initial value

years difference = y

((f / i)∧ 1/y - 1) × 100

f = 9500

i = 5000

(9500/5000)∧ 1/15 - 1

(1.9)∧1/15 - 1

(1.9)∧ 0.06666667 - 1

1.0437189836  - 1 =  0.0437189836

convert to percentage

0.0437189836  × 100 = 4.3718983645

Annual percentage growth = 4.37 %

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Answer:

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7 0
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The total assets on the balance sheet was $128,800 before journalizing and posting the adjusting entries for $800 of expired ins
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<u>Given:</u>

Total assets before journalizing and posting the adjusting = $128,800

Expired insurance = $800

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<u>To find:</u>

Total assets after journalizing and posting the adjusting

<u>Solution:</u>

To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.

The calculation is as follows,

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8 0
3 years ago
Monette Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of
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Answer and Explanation:

The preparation of cash collection budget is shown below:-

                            Cash Collection Budget

               For the month of January through March

                                   January         February         March          Quarter

Cash sales                   $43,500      $37,500           $58,500      $139,500

Collection on Credit sales

20% month of sale       $20,300      $17,500        $27,300      $65,100

40% month after            $33,600     $40,600       $35,000      $109,200

24% two months after    $17,640        $20,160        $24,360        $62,160

Total Cash collection      $115,040      $115,760      $145,160        $375,960

Working Note 1

                   November        December       January     February     March

Total Sales   $105,000          $120,000       $145,000    $125,000   $195,000

Cash sales   $31,500            $36,000       $43,500     $37,500     $58,500

Credit sales   $73,500            $84,000       $101,500      $87,500     $136,500

Credit sales is 70% of Total sales every month

Cash Sales is 30% of Total sales every month

Working Note 2

                            January        February       March         Quarter

Cash sales            $43,500      $37,500      $58,500        $139,500

Cash collection from credit sales of

November            $17,640                                                 $17,640

December          $33,600      $20,160                               $53,760

January                $20,300     $40,600        $24,360         $85,260

February                                   $17,500       $35,000         $52,500

March                                                          $27,300            $27,300

Total collections  $115,040     $115,760      $145,160           $375,960

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Answer:

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Leno Company will record a debit to Cash in the amount​ of $9,800

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