Answer:
Accounts receivables -under-the-Hill 11,700 debit
credit card fees expense 300 debit
sales revenues 12,000 credit
Explanation:
The credit card fee is considered an expense
$12,000 x 0.025 = 300
We will debit our accounts receivables for the difference between the 12,000 billed and the fee charged for Under-the-Hill credit car:
12,000 - 300 0 11,700
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The present value of of $6,811 to be received in one year if the discount rate is 6.5 percent will be $6, 395.31.
What does Present Value mean?
A financial concept that calculates the current value of a future sum of money or stream of cash flows is present value. It's used to compare the relative worth of different amounts of money that aren't available at the same time. The inverse of future value. The sum of future investment returns discounted at a specified rate of return is calculated as the present value of money you expect from future income.
What is Financial concept?
Financial concepts are the fundamental principles and theories of finance, which provide guidance on how to assess and manage financial risks, return, and value. These concepts include the time value of money, diversification, risk-return trade-off, capital budgeting, and portfolio selection. Financial concepts are essential for making sound financial decisions and investments.
The procedure to find an present value:
Present Value = FV/ (1+i)^n
6,811/(1+0.065)^1
6, 395.31
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Answer:
A government department is a sector of the UK government that deals with a particular area of interest. Government departments are either ministerial or non-ministerial departments.
Ministerial departments are led politically by a Government Minister, usually called a ‘secretary of state’ and supported by a team of junior ministers and civil servants, themselves led by a Senior Civil servant known as a permanent secretary, in charge of administrative management. Ministerial departments cover matters requiring direct political oversight, such as the Department for Transport or the Foreign Office.
Explanation:
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Answer:
5%
Explanation:
The applicable formula is A = P( 1 + r) ^ n
where A= amount: P is the principal, r, interest rate, n time
In this case,
A = principal + interest = Rs 410 { Rs 4000 + Rs410}
P= Rs 4000
r= ?
n= 2
r is?
4410 = 4000(1 + r) ^2
(1 + i)^ 2 = 4410/4000
(1 + i)^ 2 = 1.1025
1 + i = √1.1025
1 + i = 1.05
i = 1.05 - 1
i = 0.05
0.05 × 100 = 5%
