The two primary varieties of price restrictions are known as price ceilings and price floors respectively.
<h3>What exactly are these pricing controls?</h3>
Price control is a technique that the government uses to guarantee that the price of a product or service on the market does not become too high or cheap.
Price controls may be broken down into two categories: price ceilings and price floors. Price floors and ceilings are used to determine the lowest and maximum amounts of a product's price, respectively. Price ceilings are used to determine the maximum amount of a product's price.
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Bookeeping involves the recording, on a regular basis, of a company's financial transactions. ... With proper Bookkeeping, companles are able to track all information on its books to make key operating, investing, and financing decisions. Bookkepers are individuals who manage all financial data for companies.
Simple interest produces interest only over the initial amount.
So every year the interest will be $1000 * 5 / 100 = $50.
That is, after 3 years 3 * $50 = $ 150.
Simple interest does not take into account the reduction of the principal but calculates the interest over the same initial amount, in this case $1000.
So, the answer is $150, which is the result of $50 times 3.
Answer:
The answer is $26,900
Explanation:
The interest payment on $175,000 principal is:
8% x $175,000
$14,000
At the end of each year, both principal and interest payment will be paid.
The total payment for December 31, Year 1 is $40,900. Meaning this contains both the principal and interest payment.
So in the light of the above, the principal out of this money will be:
Total amount paid minus interest paid.
$40,900 - $14,000
=$26,900
Answer: a). Straight line method = $10,000. b). Double declining balance method = $20,000.
Explanation: Depreciation is the weat and tear of an asset over the useful life. There are several methods of depreciation. They include; straight line method, double-declining method, units of production method and so on.
Straight line method = (cost - salvage value)/ useful life
= (55000 - 5000)/5 = 50000/5
= $10,000
Double-declining balance method = straight line method × 2
= $10,000 × 2
= $20,000
