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Savatey [412]
3 years ago
5

What is the difference between simple and compound interest?

Business
1 answer:
bezimeni [28]3 years ago
7 0
Let's imagine you have a loan of 10,000. The simple interest would be calculated on the $10,000 so if you have an interest rate of 5%, it would go up 5% each year. Compound interest is basically interest on top of interest. So after every period or year of the loan, you are gaining compound interest on both the original loan amount and the interest you have gained.
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Ticketsales, Inc., receives $5,000,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket
krek1111 [17]

Answer:

October 31   Cash                                              $5,000,000 Dr

                         Unearned ticket Revenue           $5,000,000 Cr

November 5  Unearned ticket revenue             $1,250,000 Dr

                             Ticket Revenue                                 $1,250,000 Cr

Explanation:

The ticket revenue is earned in advance and is not earned yet. Thus, the entry to record the receipt of ticket revenue in advance will increase the cash and cause a debit to the cash account of the total amount of revenue received. The concerts are yet to be done so it is unearned revenue and is a liability for the company. Thus, there will be a credit to unearned ticket revenue for the amount of cash received.

When the first concert is done, one fourth of the revenue is earned so it will cause a debit to unearned service revenue for 5000000 / 4 = 1250000 and a credit to the service revenue of 1250000

7 0
3 years ago
Read 2 more answers
Consider the following sample data: For these data the sample mean is: 3 12 10 8
Karo-lina-s [1.5K]

Answer:

Normally Distributed Populations

For samples of any size drawn from a normally distributed population, the sample mean is normally distributed, with mean μX=μ and standard deviation σX=σ/√n, where n is the sample size.

6 0
3 years ago
Tiffany is unmarried and has a 15-year-old qualifying child. Tiffany has determined her tax liability to be $3,525, and her empl
IRINA_888 [86]

Answer:

$25

Explanation:

Premise 1: the $1,500 withheld by the employer qualifies as a prepayment because it will be remitted to the government

Premise 2: Since Tiffany is not married, she is allowed the $2000 child tax credit for her qualifying child.

Therefore

1.                    Income Tax Liability for Tiffany                    $3,525

2.                    Any other Tax                                                         0

3.                     Child tax credits                                             ($2,000)

4.                     Withheld By Employer in tax prepayment     ($1,500)

                       Tiffany's tax due with returns                               $25

4 0
3 years ago
Read 2 more answers
MedPlus Incorporated, based in the United States, hesitates to enter into a joint venture with Azpak Limited, a Sri Lankan compa
Grace [21]

Answer:

Legal Risk

Explanation:

Legal risk are damage, financial, reputational losses or any other form of loss received by a business due to negligence in compliance with the law related to the business. They are prospective fines or loses that a business or an organization receives for not complying with the business law and regulations.

In this case, the prospective loss could come by associating with Azpak limited which have inadequate protection of intellectual property rights.

3 0
3 years ago
Read 2 more answers
Your friend, Jon is a project manager of another project at your company that shares some of the same resources as your project.
worty [1.4K]

Answer:Sideward Influence

Explanation:

Sideward Influence involves managing the project manager's peers to ensure collaboration, rather than competition.

It is however important to clarify their requirements of the project and their impacts on the project as separate groups.

8 0
3 years ago
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