Answer:
Explanation:
Let x be the amount loaned at 7% and ($19,000 - x) be the amount loaned at 15%
Given:
Interest incurred at 7%, I1 + Interest incurred at 15%, I2 = $2000
Interest, I = amount × rate
I1 = 7/100 × x
I2 = 15/100 × ($19,000 - x)
From the above expressions,
(0.07)x + (0.15) × ($19,000 - x) = $2,000
Solving for x,
0.07x + 2850 - 0.15x = 2000
Collecting like terms,
0.08x = 850
x = $10625
The amount loaned at 7% interest is
$10625
The amount loaned at 15% interest is ($19000 - $10625)
= $8375
I would think money,supply or demand?
Answer:
Credits are made to Common Stock $30,000 and Paid in capital in excess of Par value $12,000
Explanation:
The journal entry is shown below;
Cash $42,000 (3,000 shares at $14)
To Common Stock $30,000 (3,000 shares at $10)
To Paid in capital in excess of par value $12,000 (3,000 shares at $4)
(Being issuance of the common stock is recorded)
Here cash is debited as it increased the assets and credited the common stock & paid in capital as it also increased the stockholder equity
Answer:
False
Explanation:
Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes.
These documents play a pivotal role in a financial institution, thus, not optional.
Cheers
Answer:
The bid amount should be $13,200,264.
Explanation:
An oil and gas producing company owns 42,000 acres of land in a southeastern state.
It operates 630 wells which produce 18,000 barrels of oil per year and 1.7 million cubic feet of natural gas per year.
The revenue from the oil is $1,800,000 per year and for natural gas the annual revenue is $581,000 per year.
Total Annual Revenue
= Revenue from oil + Revenue from gas
= $1,800,000 + $581,000
= $2,381,000
The bid amount should be the present worth of total annual revenue.
Present Worth of total annual revenue
= 
= 
= 
= 
= 
= 
= $13,200,264
