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Evgen [1.6K]
3 years ago
8

You gave $770 to your cousin. As a token of gratitude, your cousin gave you $1,190 at the end of the year instead of $770. If yo

u look at this as an investment, then your annual rate of return would be_____________
Business
1 answer:
Kamila [148]3 years ago
7 0

Answer:

annual rate of return  = 54.55%

Explanation:

given data

gave to your cousin present value = $770

cousin give you future value = $1190

solution

we get here annual rate of return that is express as

annual rate of return = \frac{future\ value}{present\ value} - 1    ...................1

put here value and we get

annual rate of return = \frac{1190}{770} - 1

solve it we get

annual rate of return  = 54.55%

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Taylor Company purchased a piece of equipment for $2,000 several years ago. It would cost $4,000 to replace that piece of equipm
Black_prince [1.1K]

Answer:

C. The equipment should be recorded at $2,000 in the accounting records because that was the exchange price.

Explanation:

The equipment should simply be recorded at $2,000. For example, if it was paid in cash, the journal entry would be:

Account                      Debit           Credit

Equipment                $2,000

Cash                                                $2,000

The fact that it would cost $4,000 to replace it does not mean that it will be replaced. It is only a hypothetical scenario that should not be recorded in the accounting journal, because it does not reflect economic reality.

6 0
3 years ago
In the Month of March, Digby Corporation received orders of 128 units at a price of $15.00 for their product Daze. Digby uses th
Montano1993 [528]

Answer:

$1,290

Explanation:

The revenue to be recognized in march is dependent on if the revenue recognition criteria was met in march. These criteria are

  • the cost of goods delivered or service rendered can be measured reliably
  • good/services were delivered/rendered in the month

This is irrespective of whether cash was collected or not under the accrual method.

Given that Digby delivers 86 units in March at a price of $15.00, revenue to be recognized

= 86 * $15

= $1,290

6 0
3 years ago
John owes Kathleen​ $5,000. In​ January, Kathleen assigns her right to collect the money to Jennifer. In​ March, Kathleen assign
Ann [662]

Answer: Kathleen

Explanation:

English Rule is that it does not matter about anyone else in the case. So long as John owes money to Kathleen, then Kathleen is the one who can claim the money.  

5 0
3 years ago
Read 2 more answers
Concussions and Brain Size A recent study1 examined the relationship of football and concussions on hippocampus volume in the br
Gwar [14]

Answer:

Part A: Null hypothesis. H₀: M₁ = M₂

Alternative hypothesis, H₁ : M₁ > M₂

Part B: x1-x2 = 6459-5735 = 724

Part C: p-value = 0.000

Part D: No, the difference in brain size is not due to random chance

Explanation:

See attached image

5 0
3 years ago
Identify the value of the fixed cost <br>​
Lunna [17]

Answer:

where is it??????????????

5 0
3 years ago
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