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chubhunter [2.5K]
3 years ago
12

A man buys several loaves of bread at $1 a loaf and sells them at 25 cents a loaf. he does it again and again. entirely as a res

ult of this, he becomes a millionaire. how?
Business
1 answer:
Tpy6a [65]3 years ago
6 0
The given problem above is an example of a quick-fire puzzle. In this scenario, the man becomes a millionaire after buying several loaves of bread at $1 a loaf and sells them at 25 cents each, because the man started off as a billionaire, who decided who help the poor. Hope this answers your question.
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How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?
Sav [38]

Answer:

Interest earn= $80.14

Explanation:

Giving the following information:

PV= $1,000

i= 7%

n= 3

<u>First, we will calculate the future value at the second year:</u>

FV= PV*(1+i)^n

FV= 1,000*(1.07^2)

FV= 1,144.9

<u>Now, for the third year:</u>

FV= 1,144.9*1.07= 1,225.04

Interest earn= 1,225.04 - 1,144.9= $80.14

4 0
3 years ago
On june​ 1, nicholson company purchased inventory on account with a cost of. Credit terms were​ 2/10, net 30. On june​ 2, nichol
alex41 [277]

The Journal entry which Nicholson company will prepare on June​ 2 will be like when goods are returned the reverse entry is made which is

Accounts Payable A/c                                      Dr.       $480

Purchase Return / Inventory  A/c                     Cr.       $480

A journal entry is an act of recording any transaction, whether it is economic or not. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.

Accounting journal entries are transferred from the journals and posted to the general ledger in order to record financial transactions in the accounting system. Modern accounting software handles the majority of this process automatically, but it's crucial to understand what's going on since there are instances when manual entries will need to be made to adjust or correct account balances at the conclusion of an accounting month.

To learn more about Journal entry visit:  brainly.com/question/20421012

#SPJ4

8 0
1 year ago
On November 1, 2018, Cullumber Farm entered into a contract to buy a $162000 harvester from John Deere. The contract required Cu
Vikki [24]

Answer:

The journal entry to record the contract on November 1, 2018 includes: credit to Accounts Receivable for $162000

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. On November 1, 2018, Cullumber Farm had to pay $162,000 in advance to John Deere. John Deere recorded the cash receiving by the entry:

Debit Cash $162,000

Credit Accounts Receivable $162,000

The company did not record revenue because they did not sell the harvester. This was only the advance payment.

3 0
3 years ago
A ________ nation is one with unstable leadership, whose policies are driven by ideology rather than by economic or human costs
kirill [66]
The answer to the nation who is one with unstable leadership, whose policies are driven by ideology rather than by economic or human costs and benefits is the rogue nation. Also the rogue nation does not respect other nations and even the other countries in its international actions.
8 0
3 years ago
Which of these bottled water brands is produced by the makers of coca-cola?
katovenus [111]
The answer to this question is <span>DASANI
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