<span>A: Predated check
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Answer:
Closing balance $110000
Explanation:
The computation of the cash balance at the end of the first year is shown below:
Funds raised from owners $20000
Less: Funds borrowed $20,000
Collection from debtors $180,000 ($200,000 - $20,000
)
Less: Payment for merchandise $45000
Salaries paid $15000
Interest paid $2000
Insurance policy paid $6000
Income tax at 40% $42000
Closing balance $110000
Working note:
Calculation of tax paid
Sales 200000
Less: purchases 75000
salary 15000
interest 2000
insurance(50% of 6000) 3000
Income 105000
Tax at 40% 42000
Answer:
B. $3 per hour
Explanation:
Given that
Cost of air travel = $300
Time of air travel = 6 hours
Cost of bus travel = $150
Time of bus travel = 56 hours
Therefore, the extra amount paid to travel by air is
Cost of air travel - cost of bus travel
= 300 - 150
= $150.
Also, the extra time saved from air travel is
Time of bus travel - time of air travel
Given as
56 - 6
= 50 hours
Thus,
The minimum value of one's time = (extra Cost paid) ÷ (Time saved)
= $150 ÷ 50 hours
= $3 per hour
Answer:
$6.64
Explanation:
The applicable formula
A = p x ( 1+ r)^ n
A =amount after 3 months
p=principal amount: $960
r = interest rate : 2.74% per year or 2.74/12 per month =0.23% or 0.0023
n = 3 month
A = $960 x ( 1+ 0.0023) ^3
A =$960 x (1.0023)^3
A =$960 x 1.00691
A=$966.64
compound interest Earned
=$966.64 - $960
=$6.64