15.79 % is the rate that bank is requred to give to potential borrowers
<u>Explanation:</u>
![A P R=m\left[(1+E A R)^{1 / m}-1\right]](https://tex.z-dn.net/?f=A%20P%20R%3Dm%5Cleft%5B%281%2BE%20A%20R%29%5E%7B1%20%2F%20m%7D-1%5Cright%5D)
![\mathrm{APR}=365\left[(1+.171)^{1 / 365}-1\right]](https://tex.z-dn.net/?f=%5Cmathrm%7BAPR%7D%3D365%5Cleft%5B%281%2B.171%29%5E%7B1%20%2F%20365%7D-1%5Cright%5D)
![A P R=365\left[(1.171)^{0.00273972602}-1\right]](https://tex.z-dn.net/?f=A%20P%20R%3D365%5Cleft%5B%281.171%29%5E%7B0.00273972602%7D-1%5Cright%5D)
![\mathrm{APR}=365 *[1.00043258-1]](https://tex.z-dn.net/?f=%5Cmathrm%7BAPR%7D%3D365%20%2A%5B1.00043258-1%5D)
, APR = 0.1578917
Or 15.79% (it is rounded off )
<u>Where:
</u>
EAR = effective annual rate
APR = Annual percentage rate
M = number of compounding
Therefore, the interest of rate that the bank is required by law in order to report to all the potential borrowers is 15.97%
Answer:
Range
Explanation:
Range is the term which is used to describe the maximum distance which the consumers or customers are prepared or willing to travel in order to acquire the goods or to use a service.
It is because at some point, the expense or the inconvenience which will outweigh the requirement of the good.
And there are two types of range, one is small rage and other is large range.
Small range is the range which the people are willing to go only a distance which is short for the everyday consumers services like the pharmacies, grocery. While the large range is the range which will people travel the longer distances for the other services like ball game.
Answer:
The answer is E.
Explanation:
Account Receivables is the type of account that is used to record expected money from the sale of goods on credit. Account receivables is an asset to the company because future economic benefits are expected to flow to the entity. It includes all forms of receivables.
Accounts receivables is being measured at cash net realizable value.
Tell them to wait patiently, and give them a
drink
Answer:
Mijka Company
a. Journal Entries
Debit Cash $30,400
Credit Service Revenue $30,400
To record the proceeds for services provided.
Debit Expenses $13,800
Credit Cash $13,800
To record the payment of cash for services.
Debit Dividend $2,100
Credit Cash $2,100
To record the payment of cash dividend.
b. Income Statement for the year ended December 31, 2018:
Service Revenue $30,400
Expenses 13,800
Net Income $16,600
Dividends (2,100)
Retained earnings $14,500
Statement of Changes in Stockholders' Equity as of December 31, 2018:
Retained Earnings $14,500
Balance Sheet as of December 31, 2018:
Assets:
Cash $14,500
Equity:
Retained Earnings $14,500
Explanation:
a) Data and Calculations:
Cash revenue $30,400
Cash expense (13,800)
Cash dividend (2,100)
Cash balance $14,500
