Answer:
Option (C) is correct.
Explanation:
Given that,
Megan’s balance sheet shows:
Total assets = $27,600
Total debts = $32,500
Net worth is the difference between total assets and total liability.
Net worth = Total assets - Total debts
= $27,600 - $32,500
= -$4,900
Therefore,
Megan’s balance sheet shows the negative worth of $4,900.
Answer: <em>Option (c) is correct.</em>
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Answer:
yo question make make no sense
Explanation:
Answer:
I would choose to invest in C-T bank since it offers $7.3675 more compared to Bank Wan
Explanation:
The two options can be expressed as shown;
Option 1: Bank Wan
A=P(1+r/n)^nt
where;
A=Total amount after a given time
P=Initial deposit
r-Annual interest rate
n=number of times the interest is compounded annually
t=number of years of the investment
In our case;
P=$1,500
r=2.5%=2.5/100=0.025
n=365 days
t=1 year
Replacing;
A=1,500(1+0.025/365)^(365×1)
A=1,500(1.02530
A=1,537.97
Total amount after a year=$1,537.97 for Bank Wan
Option 2: C-T Bank
P=$1,500
r=3%=3/100=0.03
n=2
t=1
Replacing;
A=1,500(1+0.03/2)^(2×1)
A=1,500(1.015)^2
A=1,545.3375
Total amount after a year=$1,545.3375 for C-T Bank
Total amount received to be received from C-T Bank-Total amount to be received from Bank Wan
=(1,545.3375-1,537.97)=$7.3675
I would choose to invest in C-T bank since it offers $7.3675 more compared to Bank Wan
Answer:
Retained earnings, December 31, 2016 = 26,700
Explanation:
The Statement of Retained Earnings can be prepared as follows:
SMART TOUCH LEARNING
Statement of Retained Earnings
For the month ended December 31, 2016
<u>Details Amount </u>
Retained earnings, December 01, 2016 13,000
Net income for the month 46,800
Dividends <u> (33,100) </u>
Retained earnings, December 31, 2016 <u> 26,700 </u>
Note: No currency sign is used in the answer in order to avoid confusion because no currency is used in the question itself.