Answer:
Accounts receivable balance at the end of the month is $18,000
Explanation:
Accounts receivable balance at the end of the month = Accounts receivable balance at the beginning of the month + Accounts receivable increased during the month - Accounts receivable decreased during the month.
During the month, Tripod Inc. collected $12,000 from customers. Accounts receivable decreased during the month of $12,000
It sold $5,000 of merchandise on credit. Accounts receivable increased during the month of $5,000
Accounts receivable balance at the end of the month = $25,000 + $5,000 - $12,000 = $18,000
Wyatt's<u> effective interest rate</u> would be greater than his <u>nominal interest rate </u>by 0. 71 percentage points.
The <em>nominal interest rate</em> is 13. 62% or 0.1362 that would be given an <em>effective rate of interest </em>as follows:
Here, the value of the effective rate of interest<u>,</u> that is 0.1433 that would be multiplied with 100 to get the <u>percentage value</u> of 14.33%
Hence, the <u>difference between effective and nominal interest rates</u> would be:
Learn more about the effective and nominal rates of interest here:
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Answer:
Trade balance of a country is given by the difference between its exports and imports. If Exports of a country exceed its imports then we have a trade surplus. If Imports are more than its exports then we have a trade deficit.
Trade Balance
Since the difference is positive we have a trade surplus of $8.
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Answer:
Journal Entry
Dr. Cr.
Jan 1,2016
Cash $600,000
Bond Payable $600,00
Explanation:
On Jan 1, 2016 the bond is issued on the face value, so the straight value of $600,000 recorded as debit to cash and credit to bond payable. The cash is received against the a liability. The interest accrued transaction will be recorded on each year end.
Answer: $1,000
Explanation:
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
Therefore, the opportunity cost for operating a homeless shelter is the amount that is received by renting the space of shelter for wedding parties.
Opportunity cost = Average wedding parties per month × Rent per party
= 5 × $200
= $1,000
