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Anettt [7]
3 years ago
15

A plumber and his assistant work together to replace the pipes in an old house. The plumber charges $40 an hour for his own labo

r and $15 an hour for his assistant's labor. The plumber works twice as long as his assistant on this job, and the labor charge on the final bill is $3325. How long did the plumber and his assistant work on this job
Business
1 answer:
Margaret [11]3 years ago
6 0

Answer:

The plumber worked <u>70 hours</u> and his assistant <u>35 hours</u>.

Explanation:

To solve this problem, we will use the substitution method. Step by step explanation:

1. Defining the variables:

  • P: For plumber
  • A: For assistant

2. Defining the equations:

  1. P = 2A (As the plumber works exactly double what the assistant works)
  2. $40P + $15A = $3325

3. Replacing P in equation 2:

  • 40(2A) + 15A = 3325\\80A + 15A = 3325\\95A = 3325\\A = \frac{3325}{95} \\A = 35

4. Replacing A in equation 1 to find the value of P:

  • P = 2(35)\\P = 70

This means the plumber worked <u>70 hours</u> and his assistant <u>35 hours</u> for a final bill of $3325.

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AnnyKZ [126]

Answer:

The correct answer to the following question is Waiver .

Explanation:

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6 0
3 years ago
Buzzard Bicycle specializes in custom painting and design of bicycles. December 31 is the company’s fiscal year-end. Information
zysi [14]

Answer:

See explanation section

Explanation:

Adjusting Entries

Requirement 1

December 31   Insurance Expense      Debit      $3,000

                             Prepaid Insurance   Credit                       $3,000

Note: As the company purchased a 3-year life insurance on July 1, 2021, the insurance policy will be expired on June 30, 2024. However, the insurance expense for December 31, 2021 will be for 6 months (July 1, 2021 to December 31, 2021).

Calculation:

Prepaid Insurance (3 years policy) = $18,000, so each year insurance policy will be expired = $18,000 ÷ 3 = $6,000.

Since the insurance will be expired for 6 months in 2021, the insurance expense will be = ($6,000 × 6 months) ÷ 12 months = $3,000

Requirement 6

December 31   Interest expense       Debit          $3,000

                           Interest payable     Credit                             $3,000

Note: As the company borrowed $36,000 for five years, the interest is to be paid on March 1, 2022. Therefore the interest expense will be accrued for 10 months (March 1, 2021 to December 31, 2021).

Interest expense will be = $36,000 × 10% × (10/12) = $3,000. Whichever the maturity date to be paid the entire amount will not be affected in that case.

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Suppose first main street bank, second republic bank, and third fidelity bank all have zero excess reserves. the required reserv
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4 0
3 years ago
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A WIDE variety of typefaces are available for business writers. Different typefaces suggest different purposes and occasions.
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Answer: True and True

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3 years ago
Hardmon Enterprises is currently anâ all-equity firm with an expected return of 15.2%. It is considering a leveraged recapitaliz
Veseljchak [2.6K]

Answer and Explanation:

The computation is shown below:

a. The expected return of equity is

= Expected return + debt to equity ratio × (expected return - debt cost to capital)

= 15.2% + 0.5 × (0.152 - 0.05)

= 20.3%

b. Now the debt cost of capital is 7%

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= Expected return + debt to equity ratio × (expected return - debt cost to capital)

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