Answer:
The amount due under quarterly compounding is higher by =$ 187.12
Explanation:
To determine the amount money by which the quarterly compunding is greater, we would compare the total sum due under the two compounding options.
This is done below:
Quarterly compounding
FV = A × (1+r)^n
PV - principal amount owed = 6,000
r- quarterly interest rate = 12%/4 = 3% per three month
n - number of quarters in 4 years = 4× 4 = 16
Loan amount due with interest after 4 years
= 6,000× (1.03)^(48) = 9628.23
Annual compounding
PV - principal amount owed = 6,000
r- annual interest rate = 12% =
n - number of years = 4
Loan amount due =6,000× (1.12)^(4) = 9,441.12
The amount due under quarterly compounding is higher by
= 9628.23 - 9,441.12
=$ 187.12
Answer:
$462,094
Explanation:
Depletion expense is a charge against profits for the use of natural resources. It is calculated by multiply the number of consumed units of the natural resources by the cost per unit.
Cost per unit = Total cost / total number of units expected to be extracted = $5,300,000 / 32,000,000 = 0.165625
Depletion expense = Cost per unit x extracted units = 0.165625 x 2,790,000 = $462,094
Answer:
d. $132,000
Explanation:
Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.
$100,000 + $40,000 * 80% = $132,000
B) did not acquire the instrument in good faith
Answer:
Anne Mullens committed embezzlement.
Explanation:
Embezzlement is defined as misappropriation of funds by someone with whom funds have been entrusted.
It is a theft as the money does not belong to the perpetrator. The perpetrator is only entrusted with funds.
One of the conditions for embezzlement is an existence of a fiduciary (trust) relationship between parties.
In the given case, Anne Mullens pocketed $57 cash from recorded amount instead of recording 57$ customer's payment via check. Instead she included the customer's check in the money to be taken to bank.
This is embezzlement of funds by Anne.
