A company has the following accrual-basis balances at the end of its first year of operation: Un-earned consulting fees $ 2,000,
1 answer:
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Answer:
Check the explanation
Explanation:
RAW MATERIAL PURCHASE BUDGET
July Aug Sep Total
Budgeted
Production units 64,000 97,200 1,05,200 2,66,400 79,200
RM required per unit 4 4 4 4 4
Total
RM requirement 2,56,000 3,88,800 4,20,800 10,65,600 3,16,800
Add: Desired
Ending Inventory 1,55,520 1,68,320 1,26,720 1,26,720
Total needs 4,11,520 5,57,120 5,47,520 11,92,320
Less: Beginning
Inventory 96,000 1,55,520 1,68,320 96,000
Purchase Units 3,15,520 4,01,600 3,79,200 10,96,320
Kindly check the attached image below to see the well arranged accounting entry.
Answer:
Compound interest will lead to a larger sum of money than a comparable simple interest payment.
Explanation:
The true statement is that compound interest will lead to a larger sum of money than a comparable simple interest payment because the interest are compounded for a certain number of times such as daily, weekly, quarterly or annually while simple interest isn't compounded at all.
To find the future value, we use the compound interest formula;
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Mathematically, simple interest is calculated using this formula;
Where;
S.I is simple interest.
P is the principal.
R is the interest rate.
T is the time.