An income statement is a report that shows how a company is performing facially over a set period of time. There are a few main accounts that should be found on an income statement to show accurate reporting. The main accounts are: sales revenue, cost of goods sold or gross revenue, total or specific general expenses, depreciation, interest and tax expenses.
Answer:
a) 55%
b) Joint Probability
c) They are not mutually exclusive
Explanation:
Part 1 of the Question
First, we determine the formula for calculating the probabilities of Yellowstone Park and the Tetons as follows
Probability of Yellow Stone = <em>p(</em>Yellowstone)= 0.5 or 50%
Probability of Tetons = <em>p(</em>Tetons)= 0.4 or 40%
Probability of Both = <em>p(</em>Both)= 0.35 or 35%
Therefore, the probability of visiting at least one by a vacationer is as follows:
p(At least One) = <em>p(</em>Yellowstone or Tetons)
= <em>p(</em>Yellowstone) + <em>p(</em>Tetons) - <em>p(</em>Both)
= 50%+40%-35%
= 0.5+0.4-0.35
= 0.55 or 55%
Part 2 of the Question
First the probability of 35% represents the possibility of a vacationer visiting the two locations, hence, it can be called the percentage of intersection between Tetons and Yellowstone. It is also referred to as joint probability
Part 3 of the Question
Once event are mutually exclusive, it means they cannot be carried out or considered together. In other words, one becomes an alternate cost for the other. This means going to Yellowstone means the vacationer cannot go to Tetons and vice versa. In this situation, the joint probability will not be possible (0%). Since, we already know that there is a joint probability of 35%, it means <u>the events are not mutually excusive</u>
The interest expense for the year ended December 31, 2021, for Blanchard Corporation is b) $9,000.
<h3>How is interest expense computed?</h3>
Interest expense is prorated. Since Blanchard Corporation issued the notes on April 30, the interest expense for the year will not be for 12 months but only 8 months (May to December).
<h3>Data and Calculations:</h3>
Note payable = $150,000
Interest rate = 9%
Period of note = 1 year
Date of issuance = April 30, 2020
Interest expense at December 31, 2021 = $9,000 ($150,000 x 9% x 8/12)
Thus, the interest expense for the year ended December 31, 2021 is b) $9,000.
Learn more about interest expense at brainly.com/question/16134508
Answer:
FV= $22,333.56
Explanation:
Giving the following information:
Semi-annual investment= $750
Interest rate= 0.08/2= 0.04
Number of periods= 10*2= 20
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= semi-annual deposit
FV= {750*[(1.04^20) - 1]} / 0.04
FV= $22,333.56
Answer: $412,600
Explanation:
AFN = Increase in assets - Increase in Liabilities - Addition to Retained Earnings
Increase in Assets
= 5,000,000 * 15%
= $750,000
Increase in Liabilities
Only use Accruals and Accounts Payable
= (450,000 + 450,000) * 15%
= $135,000
Additional to Retained Earnings
= After tax Profit
= 9,200,000 * 4%
= $368,000
Addition to retained earnings = 368,000 * ( 1 - payout ratio)
= 368,000 * ( 1 - 45%)
= $202,400
Additional Funds Needed (AFN) = 750,000 - 135,000 - 202,400
= $412,600
