Answer:
Jordan
Explanation:
Given that :
JORDAN :
Principal (P) = $100
Compound interest rate (r) = 3%
AMOUNT AFTER 3 YEARS:
A = P(1 + r/n)^nt
n = number of times interest is applied per period
t = time ; A = final amount
A = 100(1 + 0.03)^3
A = 100(1.03)^3
A = 100(1.092727)
A = $109.2727
JUSTIN :
Principal = $100
SIMPLE INTEREST interest rate = 3%
A = P(1 + rt)
A = 100(1 +(0.03 * 3))
A = 100(1 + 0.09)
A = 100(1.09)
A = 1.09 * 100
A = final amount after 3 years = $109
Answer:
A. A legal benefit and a legal detriment.
Explanation:
In contract law, consideration refers to the benefit element of value that must be bargained between the two parties.
Consideration always includes a legal benefit because you are going to receive some consideration from the other party, but it also involves a legal detriment because you are also giving away something of value (consideration) in exchange to the other party. E.g. you buy a hamburger (you receive food) but you must pay for it (you exchange money).
They draw up legal document to support the defendant. They also have to know all the information about the client to defend them in court of law.
To complete the measurement process, companies need to update balances of assets, liabilities, revenues and expenses for changes created by adjusting entries.
<h3 /><h3>What is adjusting entry?</h3>
An adjusting entry is the entry that is posted after the posting of all the journal entries for a period, all the transactions are posted and then at the end of the period the adjusting entry is recorded.
The adjusting entry balances and effects the balance of the assets, liabilities, revenue and expenditure at the end of the period.
Adjusting entry is also posted when the reversing effect of the journal entry is to be posted and this results in the change of the account balances of assets and liabilities of the company.
The balance sheet and income statement is prepared after the posting of journal and adjusting entries.
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