Morgan will get $1600 with the process of simple interest.
<h3>what is simple interest?</h3>
Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.
Rate of interest = 12%
principal = $1000
Time = 5 years
Simple interest
Now amount = 1000+600 = 1600.
Therefore, Morgan will get $1600.
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Answer:Worthy journal $
Date
March 14, 2022
Bad debt Dr 2600
Receivable Cr 2600
Narration. Record of receivables written off to income account on account becoming unrecoverable.
Explanation:
The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.
In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.
Answer:
Explanation:
Im prettier sure if u add them with a calculator it could come out with the answer and it may add up too the correct answer
Net pay is how much you made in a year after taxes YTD Net pay is how much you've made from January to the last day of the pay period before taxes
Answer:
0.41
Explanation:
The computation of the weight of security Y in the minimum variance portfolio is shown below:-
Weight of security X = Standard deviation of security Y ÷ (Sum of the standard deviation of securities)
= 39% ÷ (39% + 27%)
= 39% ÷ 66%
= 59.01%
Weight of security Y = 1 - Weight of security X
= 1 - 59.01%
= 0.41
