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3 years ago

Which of the following is one effect of a purchase of $600 of supplies on credit? Select one:

Business

1 answer:

Norma-Jean [14]3 years ago

5 0

Answer:

d. It would increase liabilities by $600

Explanation:

Supplies are part of inventory, and when inventory is purchased it increases assets.

But is it purchased against cash then there is no change as assets in the form of cash is reduced by same.

Further, if these are purchased on credit then the balance of liabilities increases as the increase in liabilities and increase in assets keep the balance sheet equation matching.

Thus, purchasing on credit will increase the liabilities.

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3 years ago

Suppose you earned a $275,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each

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Answer:

withdraw = 28532.45

so correct option is a. $28,532

Explanation:

given data

earned = $275,000 bonus

interest rate = 8.25% per year

time = 20 year

to find out

How much could you withdraw at the end of each of the next 20 years

solution

first we find here Cumulative discount factor that is express as

Cumulative discount factor = $\frac{(1-(1+r)^{-t}}{r}$ .............1

put here value r is rate and t is time

Cumulative discount factor = $\frac{(1-(1+0.0825)^{-20}}{0.0825}$

Cumulative discount factor = 9.638148

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withdraw = Present amount ÷ cumulative discount factor .......2

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3 years ago