Answer:
Explanation:
Use Future value formula for the calculation of number of years
Future Value = Present value ( 1 + interest rate )^number of years
FV = PV ( 1 + r )^n
$500,000 = $200,000 ( 1 + 10.5% )^n
$500,000 / $200,000 = ( 1 + 0.105 )^n
2.5 = ( 1.105 )^n
log 2.5 = n log 1.105
n = log 2.5 / log 1.105
n = 9.1771
n = 9 years 2 months
<h2>Choices companies give customers of the features to be included on the products they purchase are known as "options".</h2>
Explanation:
Options are nothing but an enhanced version of the basic product.
There are 'n' number of examples which can be given and I am listing few.
Example 1: Shampoo
Shampoo is the basic product, adding on to it with little conditioner effect and fragrance enhance the existing model and customer likes the enhanced feature / option.
Example 2: Automobile products
A basic automobile with rear mirror, seat cover, carpets, etc to attract customer.
Example 3: Mobile phones
Almost all the customers look mainly for the features and they get attracted towards the purchase only by reading the features.
Features are added to keep the product live in the market.
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The reported value of this company's ending inventory if LCM is applied to individual items is $870.
<h3>What is reported value?</h3>
The value of any assets or liabilities or any such credentials, which is recorded in the books of official record for the purpose of accounting as per the standards, is known as the reported value.
The computation of the reported value in the given condition will be,
- Item 1 – 5 Units x $45= $225;
- Item 2 – 7 units x $60= $420;
- Item 3 – 9 Units x $25= $225.
The summation of all the reported values will be,
$(225+420+225)= $870.
Hence, the reported value of the inventory of the company is as aforementioned.
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Answer:
The following are the adjusting entries and the amounts entered are supposed and imaginary.
Explanation:
Date Account Titles and Explanation Debit Credit
Mar. 31 Supplies Expense Dr 10,000
Supplies Account Cr 10,000
When supplies are expensed out. If supplies have a balance of 30000 and 10000 is used up.
Mar. 31 Depreciation Expense Dr 5000
Accumulated Depreciation Cr 5000
Depreciation expense amounts to 5000 for the current year
Mar. 31 Unearned Service Revenue Dr 3000
Service Revenue Cr 3000
Unearned Service Revenue is a liability of the person or company.
Mar 31. Salaries and Wages Expenses Dr 2000
Cash Cr 2000
Slaries and wages paid in full by cash to 2000