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Brut [27]
3 years ago
5

Many locations require that renters be paid interest on their security deposits. If you have a security deposit of $3,600, how m

uch would you expect to receive in interest per year at 3 percent?
Business
1 answer:
Veseljchak [2.6K]3 years ago
4 0

Answer:

So you should expect to receive $108 in interest per year

Explanation:

If you put money on security deposit, it is still your money and you should receive interest for it like when you put money on a bank deposit.

For a $3,600 deposit with 3 percent per year interest, the interest you should be paid would be:

3,600 * 0.03 = $108

You might be interested in
Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning in
RSB [31]

Answer:

$82

Explanation:

Month                            Quantity       rate         Total  

January purchase            7 letters       6             42

February                           5 letters       8             40

March                                6 letters       9             45

Total                                  18                                127

Number of letters sold = 6

Closing inventory = 18 - 6 = 12

Using LIFO , the last set of item purchased are the first to be sold , therefore the closing inventory will be

(5*8)+(7*6)= $82

3 0
3 years ago
You have just read a news story about a wealthy nation invading a poor nation after the discovery of massive oil deposits in the
Lorico [155]

Answer:

This is the example of an Invasion

Explanation:

An invasion is a military offensive in which large numbers of combatants of a country aggressively enter territory owned by another country generally with the objective of either conquering, liberating or re-establishing control or authority over a territory, forcing the partition of a country, altering the established government or gaining concessions from said government, or a combination.

7 0
3 years ago
Anka Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. An
katovenus [111]

Answer:

C. LIFO liquidation

Explanation:

Benson Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. In its footnotes, Benson Company is required to report the amount at which inventories would have been reported under FIFO method.

The difference between these two numbers is commonly referred to as LIFO Reserve.

LIFO reserve represents the difference in ending inventory using LIFO and ending inventory if FIFO were employed instead.

Third option is the correct option.

LIFO reserve = FIFO inventory cost - LIFO inventory cost

FIFO inventory cost = LIFO inventory cost + LIFO reserve

4 0
4 years ago
How the following changes will affect demand and supply strong argument:
Vilka [71]

Answer:

Please see below for answer

Explanation:

<u>1 Reduction in subsidy by government </u>

The supply will be negatively affected as the production cost will get higher and it will get more difficult to meet the demand of the product.

<u>2 Increase in price of wood </u>

This will again have an impact on the supply as the production cost increases due to more expensive raw materials.

<u>3 Need of cupboards increased in universities </u>

The demand has increased in this case and the supply will have to be increased too if the demand is to be met.

<u>4 Reduction in tax for both buyers and seller of cupboard</u>

This will result in an increase in both supply and demand as more people might be able to afford the cupboards now as compared to before.

8 0
3 years ago
What might cause a consumer to have an elastic demand for a product?
Mariana [72]
<span>D. The product is a necessity.</span>
3 0
4 years ago
Read 2 more answers
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