The
amount of money that Eric will have after 5 years given the initial amount and
the interest per year (which we will assume to be compounded)
<span> F = P x (1 + r)^n</span>
Substituting,
<span> F =
($7,500)(1 + 0.0525)^5</span>
<span> F = $9,686</span>
<span>Therefore,
Eric will be short of about $113.39. </span>
Answer:
The journal entries to record service revenue during July should be:
Dr Cash 3,600
Cr Service revenue (80 hours per month) 3,600
Dr Accounts receivable [(115 - 80 hours) x $40] 1,400
Cr Service revenue 1,400
Since the company has collected only the regular hours provided according to the contract, the remaining hours should be recorded as accounts receivable.
Answer:
All of the above are possible.
Explanation:
Discussions here center on equilibrium of an economy in a long run, and here after the government activities, their is a decline in dollar value; therefore in the short run, the price level and real GDP will both rise in as much as the price level and real GDP will also both fall. It is also gathered that neither the price leave nor real GDP will change.
The transition from the short run to the long run may be done by considering some short run equilibrium that is also a long run equilibrium as to supply and demand, then comparing that state against a new short run and long run equilibrium state from a change that disturbs equilibrium, say in the sales tax rate, tracing out the short run adjustment first, then the long run adjustment.
