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Blizzard [7]
3 years ago
9

brian earned $14,000 last spring giving swimming lessons. He invested part of the money at 5% simple interest & the rest at

3%. In one year, he earned a total of $570 interest. How much did he invest at each rate?
Business
1 answer:
brilliants [131]3 years ago
4 0

Answer:

A = 7500

B = 6500

Explanation:

we buid the equation:

A + B = 14,000

then: B = 14,000 - A

interest formula:

A x (0.05 x 1) + (14,000-A) x ( 0.03 x 1) =  570

(0.05A -0.03)A + 420 = 570

A = (570 - 420)/ 0.02

A = 7,500

B = 14,000 - A = 14,000 - 7,500 = 6,500

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Under the allowance method, bad debts expense is recorded with an adjustment at the end of each accounting period that debits th
Crank

Answer:

Dr. Allowance for Doubtful Accounts...1,200

Cr. Accounts Receivable....................................1,200

Explanation:

When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:

A credit to Accounts Receivable (to remove the amount that will not be collected)

A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)

Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be

Dr. Allowance for Doubtful Accounts...1,200

Cr. Accounts Receivable....................................1,200

8 0
3 years ago
During its first year of operations, Bramble Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 25,200
crimeas [40]

Answer and Explanation:

The journal entries are shown below:

a.

On Jan 10

Cash Dr $100,800 (25200 shares × $4 )

              To Common Stock  $100,800

(Being the common stock is issued)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder so common stock is credited

On July 1

Cash $357,000  (51,000 shares × $7)

     To Common stock $204,000  (51,000 shares × $4)

      To Additional Paid in capital in excess of par value - Common stock   $153,000  (51,000 shares × $3)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

b.

On Jan 10

Cash $100,800  (25,200 shares × $4)

     To Common stock $25,200  (25,200 shares × $1)

      To Additional Paid in capital in - Common stock   $75,600   (25,200 shares × $3)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

On July 1

Cash $357,000  (51,000 shares × $7)

     To Common stock $51,000  (51,000 shares × $1)

      To Additional Paid in capital in - Common stock   $306,000   (51,000 shares × $6)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

8 0
3 years ago
Which activity relates to judging the seriousness or gravity of a given problem?
yKpoI14uk [10]

B. Evaluation  

Evaluating means to systematically determine somethings merits and significance, including the seriousness or gravity of a problem.

3 0
3 years ago
Read 2 more answers
Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative exp
german

Traditional income statement : Net operating income $47,000

Contribution income statement : Net operating income  $25,000

1.

Traditional Income Statement

Sales  (11,000 x $16)                       $176,000

Cost of goods sold

(9,000 + 87,000 - 25,000)            ($71,000)

Gross Margin                                  105,000

Selling and administrative expenses:  

Selling expense

(11,000 x 1) + 22,000                      $33,000

Administrative expense

(11,000 x 1) + 14,000                       $25000

Net operating income                  $47,000

2.

Contribution format income statement

Sales                                                $176,000

Variable expenses:  

Cost of goods sold        71,000  

Selling expense              11,000  

Administrative expense  11,000      ($93,000)

Contribution Margin                         $83,000

Fixed expenses:  

Selling expense                33,000  

Administrative expense   25,000     (58,000)

Net operating income                     $25,000

Learn more about preparation of income statement here : brainly.com/question/24498019

3 0
2 years ago
Discuss the tradeoffs between fiber-optic and satellite communication in terms of costs, signal capacity, signaling method, inte
mylen [45]

Answer:

Explanation:

I will split this answer into two options...

Fiber Optic communications work by sending data through beams of light through a series of fiber cables. This allows for data transfer at incredibly high speeds and with an almost non-existent probability of data loss. Since cables need to be connected from one end-point to another this form of communication becomes more expensive and the capability of reconfiguration becomes incredibly difficult. The likelihood of failure is also very low due to the nature of the technology.

Satellite communication sends data wirelessly by beaming the data to satellites and then back down to the destination. This allows for data to be transferred worldwide but runs into the risk of interference, data loss, signal loss etc. Costs are much cheaper than Fiber Optics due to the lack of wiring. Multipoint capabilities are high since endpoints can be placed anywhere with a clear line of sight to the sky, which also means that reconfiguration capabilities are high as well.

5 0
2 years ago
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