The T-Account can be made as follows with the credit of $3,754. The expenses are deducted from the balance as the total credit available.
<h3 /><h3>What is Expense?</h3>
Expenses are the costs that are paid by businesses, these costs are incurred for the operations of business. The expenses are paid from the cash/ bank balance available at the business.
It is recommended that the expenses are in a control and are lower than the revenue generated by the business.
T-Account
Operating Expense Account
$420
$250
$100
$250
Petty Expenses Account
$150
$100
Asset Account
$1500
$650
$334
The account are made according to the nature of expenses, there are two expenses that are not to be classified as an expense instead they need to be treated as a capital expenditure that is to be posted in Asset account.
Expenses with one off event and small amount and in general in nature are posted in petty expenses
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Answer:
70years
Explanation:
The future value formula for compound interest, after n interest period is
where i is the interest rate per period in decimal form and P is the principal or present value.
The Rodriquez family is determined to purchase a $250,000 home so
F=$ 250,000
The family plans to save $2,500 a quarter for this purpose and expects to earn 6.65 percent.
This implies that:
For t years, the number of compounding periods will be;
We fixed the values into the formula and solve for t.
It will take approximately 70years
Answer: open a savings account
<span><span>From the given choices (apply for a credit card, open a savings account, apply for a car loan, open a store credit account</span>), the first step in building a good credit record is to open a savings account. </span>
Bank accounts can help you access credit and acquire a home, a car, a personal loan because banks favor existing customers, especially those who manage their money well.
The answer is right, if not are there choices
Answer:
the payback period is 14 months
Explanation:
The computation of the payback period is shown below:
Profit is
= $2,000,000 - $1,669,426
= $330,574
Now payback period is
= 1 + $330,574 ÷ $1,669,426
= 1 +0.198 years
= 1.198 years
= 14.37 months
= 14 months
Hence, the payback period is 14 months
