Answer:
Explanatio$312,752
Explanation:
Weekly interest rate = [(0.06/365 + 1)^7] -1 * 100
Weekly interest rate = 1.0011525255 - 1 * 100
Weekly interest rate = 0.0011525255 * 100
Weekly interest rate = 0.1152%
No. of periods =52 weeks * 25 years = 1300
N = 1300; I/Y = 0.1152; PV = -2500; PMT = -100
Amount accumulated at the end = FV(1300, 0.1152, -2500, -100)
Amount accumulated at the end = $312,752 approximately
n:
Answer: The correct answer is choice c - minor requirements.
Explanation: When a student is working towards earning a bachelor’s degree at most four year colleges they are not normally required to choose a minor. The standard requirements are normally electives, general education requirement and major requirements.
Answer:
$38,400
Explanation:
<em>1. Cash Purchases:</em>
The total purchases in the month of March is of $35,000.
It is given that 70% of Purchases are for cash.
Hence, 70% of $35,000 would be;
$39,000 x 0.70
$27,300
<em>2. Credit Purchases:
</em>
Remaining Balance of Purchases from the month of February:
For the month of February Cash Purchases can be calculated as follows;
$37,000 x 0.70
$25,900
Remaining Balance to be paid in March for the month of February can be calculated as follows;
$37,000 - $25,900
$11,100
<em>3. CASH PAYMENT for PURCHASES in MARCH:</em>
Cash Purchases = $27,300
Credit Purchases = $11,100
Hence;
<em>Cash Payment for purchases in March = Cash Purchases + Credit Purchases
</em>
Cash Payment for purchases in March = $27,300 + $11,100
Cash Payment for purchases in March = $38,400
Answer:
The statement is True as well as correct
Explanation:
Allowance method is the financial term which is defined as the uncollectible accounts receivable procedure that reports the estimate of the bad debt expense in the same accounting or fiscal year as the sale.
Under this method, it is used to adjust the accounts receivable which appears on the balance sheet.
For example,
If the company has the credit sales of $800,000 in December and estimate that the 4% will be uncollectible. Then using this method, computing the uncollectible as:
Bad debt expense = Sales × Estimate uncollectible
= $800,000 × 4%
= $32,000
So, this estimate the bad debt expense rather than wait to see which customer will not able to collect.
Because the people selling it needs to make profit.
