your method was incorrect.
the correct answer is:
interest accrued per month: 976.34*10.75/100*1/12= $8.75
interest from savings account: $100 * 2.75/100 *1/12 = $.23
3.difference is: 8.75 - . 23= $8.52 (answer)
4. amount towards principal after $100 payment is ($100-$8.75)= $91.25(answer)
Before going to the cost and benefits, lets take a look first at the total of what Tim makes for the two jobs. In the first job, he is paid $7 per hour for 3 hours so that is $21 total for the first job. The second job offer is $10 per hour for two hours so that is $20 for the entire second job offer. If he is going to take the first job, he will have $1 more than the second job, however, he has to work an extra hour. However, if he takes the second job, he receives $1 less but has one hour more for himself. So if he were to take the second job, it will be more beneficial to him because he can get almost the same amount but doesn't need to work as hard
Answer:
When it incurs expenditures under the grant
Explanation:
According to the revenue recognition principle, the revenue is recognized when it is earned plus in this question the matching principle is also applied that refers that when revenue is recognized so at the same time the expenditure should also be recorded i.e on same period the revenue and the expenditure should be matched.
Answer:
$100,000 and $2,500
Explanation:
The computation of the principal and the interest due at the end of the 6 months is shown below:
As we know that
Simple interest is
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $100,000 × 5% × (6 months ÷ 12 months)
= $2,500
The total amount would she paid is
= Principal + interest
= $100,000 + $2,500
= $102,500
Answer:
1. Dr Cost of goods manufactured 2000
Cr supplies 2000
2.Dr Insurance expense 100
Cr Prepaid insurance 100
3. Dr Depreciation expense 75
Cr Accumulated depreciation 75
4. Dr unearned revenue 800
Cr service income 800
5. Dr Account receivable 280
Cr Service revenue 280
6. Dr Interest expense 70
Cr Interest payable 70
7. Dr Salaries expense 1400
Cr Salaries payable 1400
Explanation:
1. At the end of reporting 500 supplies were at hand (2500-500)= 2000 used and closes in to cost of goods manufactured.
2.Prepaid insurance was 600 and expires 100 of the month.(600-100)=500 will be prepaid.
4. Revenue is earned which was unearned and collection was recorded and liability created of that amount,this is done because of matching principle.
