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katovenus [111]
3 years ago
7

Lance lopes went to his bank to find out how long it will take for $1,500 to amount to $2,700 at 15% simple interest. can you so

lve lance's problem? (round time in years to the nearest tenth.)
Business
1 answer:
denis23 [38]3 years ago
3 0
To find simple interest: 

Time = Interest/(Principle)(Rate)

Interest is the amount of interest paid
Principle is the amount you lent or borrow
Rate is the percentage of principle charged as interest each year
Time is the years of the loan

P=Principle amount of $1,500
I=Interest amount of $1,200 (Take the new amount of $2,700 and subtract from the principle that is $1,500 which gives you $1,200)
r= as a decimal .15 (15%/100)
t=unknown

T=I/PR

T=1,200/(1,500)(.15)
T=1,200/225
T=5.3 years 

It would take Lance roughly 5.3 years
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Answer:

a. When must Janine recognize the income from the $17,360 advance payment for services if she uses the cash method of accounting?

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Cash method of accounting recognizes revenues and expenses when they are received or paid for.

b. When must Janine recognize the income from the $17,360 advance payment for services if she uses the accrual method of accounting?

  • 1. Year 0 and Year 1

c. Suppose that instead of services, Janine received the payment for a security system (inventory) that she will deliver and install in year 2. When would Janine recognize the income from the advance payment for inventory sale if she uses the accrual method of accounting and she uses the deferral method for reporting income from advance payments? For financial accounting purposes, she reports the income when the inventory is delivered.

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She will recognize revenue only after the merchandise is delivered.

d. Suppose that instead of services, Janine received the payment for the delivery of inventory to be delivered next year. When would Janine recognize the income from the advance payment for sale of goods if she uses the accrual method of accounting and she uses the full-inclusion method for advance payments?

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Under this system, advanced payments are considered revenue on the year that they were received.

4 0
3 years ago
What is a well-informed, but often neglected, source of free marketing data? A. infomercials B. college professors C. Secondhand
klemol [59]

The correct answer is option B - COLLEGE PROFESSORS. The Academia is a brilliant source of free marketing data, and they are very knowledgeable and well-informed. However, the academia is often neglected because entrepreneurs usually ignore and/or overlook them

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Emy is at dinner with her group of friends when one of them pulls out a new pen that not only writes but takes pictures. It also
eduard

Answer:

Late Majority.

Explanation:

The adoption of a product by consumers is divided into five categories, namely, <u>innovators, early adopters, early majority, late majority, and laggards</u>. Such customers are known as adopters who adopt to new technology differently. The category of adopters was proposed by Everett Rogers in 1962.

In the given scenario, Emy exemplifies Late majority adopter.

Late Majority adopters are those adopters who adopts new innovation or technology after observing that the product has been adopted fruitfully by the majority of society. They rank on the second last position of the adopters. They are more skeptical to the product before adopting it. So, Emy fits the late majority category of adopters as she is skeptical about the fancy device shown by her friend.

7 0
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In order to make sure it is possible to clean the floors under shelving units in food establishments, the shelves must be at lea
soldier1979 [14.2K]
The shelves must be at least SIX [6] INCHES above the floor. This is necessary in order to facilitates proper cleaning of the floors, the unobstructed space below the shelf will make it easier to clean the underneath of the shelves. This will prevent cockroaches and other kitchen pests from habouring the space.
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Darren King owns a small printing company and uses reams of print paper every month. When he goes to the wholesaler to pick up h
marta [7]

Answer:

b. The supply of print paper from the wholesaler is a business product because Darren uses it to provide a service that he sells.

e. The colored construction paper from the wholesaler is a consumer product because Darren's family will use it for personal projects.

Explanation:

In the given question:

Darren King makes two kinds of purchases:

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2. Remnants of colored construction paper, this is purchased by Darren King for his children who are studying in school for their projects.

The first is for the sole business purpose, whereas the second construction paper is for school project of children.

3 0
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