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3 years ago

Which compound frequency will earn yo the most money

Business

1 answer:

Karo-lina-s [1.5K]3 years ago

5 0

Compounding Daily.

When interest compounds, the amount earned is added to the principal so you begin to earn interest on that as well. The more often it compounds the faster you will earn money and the more money you will earn.

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At the end of 2003, Ritzcar Co. fails to accrue sales commissions earned during 2003, but paid in 2004. The error is not repeate

Mandarinka [93]

Answer:

The effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.

The error does not have effect on the 2004 ending retained earnings balance.

Explanation:

Let the amount of the commission expense be xxxx.

At the end of 2003, the journal entries should have been as follows:

Debit Commission expense for xxxx

Credie Commission payable for xxxx

Also, we have:

Working capital = Current assets – Current liabilities ………… (1)

From equation (1), current liabilities are understated because commission payable which was not recorded is an item under current liabilities. Since the current liabilities are understated, that indicates that the working capital in equation is overstated. Therefore, the effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.

When the 2003 commission expense in the entries above was paid in 2004, it would have been recognized as an expense. This made the error to counterbalance. This implies that the 2004 ending retained earnings balance is still correct despite that there are errors in the earnings of the two years. Therefore, the error does not have effect on the 2004 ending retained earnings balance.

4 0

3 years ago

The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $660,000; Office salaries, $132,000; Feder

Lera25 [3.4K]

Answer:

July 31, 202x, salaries expense

Dr Sales salaries expense 660,000

Dr Office salaries expense 132,000

Dr FICA taxes (OASDI) expense 49,104

Dr FICA taxes (Medicare) expense 11,484

Dr FUTA taxes expense 408

Dr SUTA taxes expense 3,672

Dr Life insurance expense 19,500

Dr Medical insurance expense 24,000

Cr Federal income taxes withheld payable 198,000

Cr State income taxes withheld payable 44,000

Cr Social security taxes withheld payable 49,104

Cr Social security taxes payable 49,104

Cr Medicare taxes withheld payable 11,484

Cr Medicare taxes payable 11,484

Cr Medical insurance premiums payable 40,000

Cr Life insurance premiums payable 32,500

Cr Union dues deducted payable 10,000

Cr FUTA taxes payable 408

Cr SUTA taxes payable 3,672

Cr Salaries payable 450,412

July 31, 2021, payment of salaries payable

Dr Salaries payable 450,412

Cr Cash 450,412

Explanation:

Sales salaries, $660,000;

Office salaries, $132,000;

Federal income taxes withheld, $198,000;

State income taxes withheld, $44,000;

Social security taxes withheld, $49,104;

Medicare taxes withheld, $11,484;

Medical insurance premiums, $16,000;

Life insurance premiums, $13,000;

Union dues deducted, $10,000; and

Salaries subject to unemployment taxes, $68,000.

FUTA = $408
SUTA = $3,672

4 0

3 years ago

Contestable markets true or false: if a firm is operating in a contestable market, it should operate at the efficient production

jok3333 [9.3K]

The first statement is false. A firm earning a zero profit is an action called predatory pricing, which there can be a temporary loss because of a super low price and when a new firm enters the market the new firm won’t be able to compete with a very low price forcing the new firm out of the market. This action can be a barrier of entry making the market less contestable. A firm in a contestable market should operate at efficient level of production and earn a minimal profit close to equilibrium.

It is true that a contestable market model has important policy implications for example to increase competition policy maker can decrease regulation so that new firm can easily enter the market. Policy makers can also force firms to allow other firms to use their networks encouraging new firms to enter the market and lessening the monopoly power of restricting supplies. Policy makers can also set up its own new firm and distribute its resources to small new firms to increase competition.

3 0

4 years ago

Group decision making is a good approach when:

DiKsa [7]

Answer: Option (a) is correct.

Explanation:

Group decision making can be considered as a good way when: There are moments for fabricating deliberation and consensus.

Group decision making is referred to type of process under which several individuals working collectively, analyze problems or scenarios, also evaluating alternative way of action, and select from the alternatives a solution.

8 0

3 years ago

Which of the following examples requires a citation in a paper you're writing?

Liula [17]

B. A direct qoutatiion that is marked off by quotation marks(APEX VERIFIED)

5 0

4 years ago

Read 2 more answers