The main mechanism that regulates the market system is the
government. It is because they are the one that sets up and regulates the
system and allows the mechanism of the system to continue as the government is
the one that enforces and controls the demand and supply in the market system.
Answer:
Notes payable is debited by $6,900, Interest expense is debited by $69 and cash is credited by $6,969
Explanation:
Interest = Principal Amount * Rate * Number of days / 360
Interest = $6,900 * 6% * 60/360
Interest = $69
Cash to be paid = Principal Amount + Interest
Cash to be paid = $6,900 + $69
Cash to be paid = $6,969
On the date of maturity, the journal entry to make the payment of note payable is:
Date Account Title and Explanation Debit Credit
June 11 Note payable $6,900
Interest expenses $69
Cash $6,969
(To record the payment of notes payable along with interest)
Answer:
<em>s</em><em>o</em><em>l</em><em>a</em><em>r</em><em>.</em>
Explanation:
<em>s</em><em>o</em><em>l</em><em>a</em><em>r</em><em> </em><em>i</em><em>s</em><em> </em><em>a</em><em>n</em><em> </em><em>e</em><em>m</em><em>e</em><em>r</em><em>g</em><em>i</em><em>n</em><em>g</em><em> </em><em>g</em><em>r</em><em>e</em><em>e</em><em>n</em><em> </em><em>c</em><em>a</em><em>r</em><em>e</em><em>e</em><em>r</em><em> </em><em>d</em><em>e</em><em>d</em><em>i</em><em>c</em><em>a</em><em>t</em><em>e</em><em>d</em><em> </em><em>t</em><em>o</em><em> </em><em>t</em><em>h</em><em>e</em><em> </em><em>d</em><em>i</em><em>s</em><em>c</em><em>o</em><em>v</em><em>e</em><em>r</em><em>y</em><em> </em><em>o</em><em>f</em><em> </em><em>e</em><em>n</em><em>e</em><em>r</em><em>g</em><em>y</em><em> </em><em>u</em><em>s</em><em>u</em><em>n</em><em>g</em><em> </em><em>t</em><em>h</em><em>e</em><em> </em><em>s</em><em>u</em><em>n</em><em> </em><em>a</em><em>s</em><em> </em><em>i</em><em>t</em><em>s</em><em> </em><em>s</em><em>o</em><em>u</em><em>r</em><em>c</em><em>e</em><em>.</em>
Answer:
D. $2,070
Explanation:
First, convert $2500 real dollar amount at year 10 to to nominal amount;
If inflation rate is 5% per year, then in 10 years the inflation will compound to the following;
1.05^ 10 = 1.6289
Therefore, the nominal amount of your savings would be
= $2500*1.6289
= $4,072.25
Next, that would be your future value( FV), find its present value using the 7% as the discount rate. On a financial calculator, input the following;
FV = 4,072.25
I/Y = 7%
N= 10
PMT = 0
then compute present value ; CPT PV = $2,070
Answer:
Goal displacement
Explanation:
Goal displacement is simply defined as the outweighing of a firm's goal by another goal despite the importance of both goals to the firm. It can also said to mean the change in goal of a firm from one to another.
In goal displacement, a firm might have a goal set but due to certain circumstances as seen in the above question, another goals presents itslef as more important.
In the above question, safety was the initial goal of the company but when the Vice president of accounting pointed out the need for increased profits, the goal of the company changed towards profit earning as the aim of any business is to make profits.
That change from a security goal to a profit making goal is called goal replacement
Cheers.