Answer:
I have to invest $11364.
Explanation:
The formula of Compound Interest is:
where A = Amount
P = Principle
r = rate
n = Number of Compounding per year
t = total number of year
Here, A = 15000, r = 5.75% = 0.0575, n = 4(quarterly), and t = 5.
Putting all these values in above formula:
⇒
⇒
⇒
⇒ P = 11364
Hence, I have to invest $11364 for 5 years.
Answer:
Supplies Used = $2475
Explanation:
<u>Bruce Company</u>
Supplies Purchases $4,300
Supplies on hand $1,825
Supplies Used = $ 4300- $ 1825 = $2475
The amount of Supplies used ( $ 4300- $ 1825 = $2475) will be shown in the income statement as an expense and the amount of unused supplies or Supplies on hand $1,825 will be shown in the Balance sheet as an asset account. The both of which will total the supplies actually purchased.
The relating <u>adjusting entry </u>will be
Supplies Expense $ 2475 Debit
Supplies Account $ 2475 Credit
This means the supplies of the amount $ 2475 have been used and is recorded as an expense in the income statement. It will be deducted from the gross profit. The remaining amount $ 1825 is for future use so recorded as an asset in the Balance Sheet and added to the total assets.
Answer:
$300 debit balance
Explanation:
In business debit entries mean that the money is being added to the account, while credit entries means that the money is owed and is therefore being deducted from the account. Therefore, in this scenario the cash account has a $300 debit balance. This is because the credit entries are being subtracted from the debit entries (assuming that the account had a $0 initial balance). If we do the math we are left with $300 of debit.
$900 - $600 = $300
Answer:
Virtual Expatriate
Explanation:
George, an American citizen, works as the sales manager at Blue Inc. He is located at the company headquarter in the U.S. and manages operations in China. He sometimes makes long visits to conduct business meetings with his colleagues working in China. George is a Virtual Expatriate.
Answer:
Consumption $
1900
Investment 0
Government Expenditures 0
Net Exports -$
1900
Change in GDP as a result of the transaction 0
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
The purchase of the laptop is part of durable consumption. So, consumption increases by $1900
The purchase of the laptop is not by a business or by the government. Investment and government expenditure remains unchanged.
The purchase of the laptop from China constitutes an import activity. Import increases. But import is a negative function of import, so net export decreases.
Total change in GDP = $1900 + 0 + 0 - $1900 = 0