Answer:
n = ㏒ P ÷ ㏒ (1.08)
Explanation:
Compound interest rate
A = P × 
where
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
A = amount of money accumulated after n years, including interest.
n = number of years
Since we want the principle amount to double i.e., A = 2P
put this in above equation
2P = P × 
divide both sides by P, we get
P = 
put r = 0.08
P = 
P = 
Taking log on both sides
㏒ P =㏒ 
㏒ P = n ㏒ (1.08)
n = ㏒ P ÷ ㏒ (1.08)
Answer and Explanation:
The journal entry is shown below:
Cash Dr $98,800
Finance charge Dr ($120,000 × 1%) $1,200
To Liability - Financing Arrangement $100,000
(being receipts of cash is recorded)
Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance
Answer:
A) The price of his shares will rise if NanoSpeck issues additional shares of stock.
C) Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Kenji's shares to decline.
Explanation:
if a demand for kanji's is more than its supply, the share prices increase. if the sellers of a particular stock are more than its buyers, the share price decreases. if the company is earning much profit, the share price will rise.
Answer:
1. $3.18 and $2.55
2. expected annual activity
Explanation:
The computation of the predetermine overhead rate is shown below:
1. For Expected actual activity, it is
= (Overhead for the coming year) ÷ (completed jobs × direct labor hours)
= ($15,600) ÷ (140 jobs × 35 direct labor hours)
= $3.18
And, for Theoretical activity, it is
= (Overhead for the coming year) ÷ (completed jobs × direct labor hours)
= ($15,600) ÷ (175 jobs × 35 direct labor hours)
= $2.55
2. Based on the predetermined overhead rate, the expected actual activity has highest predetermined overhead rate as compared to the theoretical activity
So the Reggie should use the same