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Agata [3.3K]
3 years ago
7

Janelle earned a salary of $62,000 in 2004 and $80,000 in 2014. The consumer price index was 126 in 2004 and 170 in 2014. Janell

e’s 2004 salary in 2014 dollars is a. $45,953. b. $89,280. c. $107,953. d. $83,651.
Business
1 answer:
Firlakuza [10]3 years ago
3 0

Answer:

d. $83,651.

Explanation:

In this question, we use the proportionate method which is shown below:

Salary in 2014 in dollars equals to

= Salary in 2004 × (Consumer price index in 2014 ÷ Consumer price index in 2004)

= $62,000 × (170 ÷ 126)

= $83,651

Simply we use divide the consumer price index in 2014 by  consumer price index in 2004 and then multiply it with the earned salary in 2004

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A given university has an average professor pay of $40,000 a year and an average administrator pay of $45,000 per year. If the r
harina [27]

Answer:

We can determinate there is 548 professors.

Explanation:

A professor is paid 40,000 while and administrator is paid 45,000

we know that the sum of wages is 40,415,000

and the proportion for professors is 4/3 so admin should be 3/4

We can now construct and equation system.

40,000p + 45,000a = 40,415,000\\where:\\p = professor\\a = administrators

We know plug the value of admin to professor and sove for p.

40,000p + 45,000 (\frac{3}{4}p) = 40,415,000

we multiply 45,000 by 3/4 and add it to the 40,000

45,000 x 3/4 = 33,750

40,000 + 33,750 = 73,750

<u>We now solve for p:</u>

p = \frac{40,415,000}{73,750}  = 548

There is 548 professors.

5 0
3 years ago
The journal entry for the collection of the notes is A. Debit Cash 4,000; Credit Accounts Receivable 4,000 B. Debit Cash 3,018;
Setler79 [48]

Answer:

The correct answer is B. Debit Cash 3,018; Credit Notes Receivable 3,000, Credit Interest Revenue 18

Explanation:

The question is incomplete as it only stated the requirement of the question. However, option B above is the closest answer because the company applies the accrual method of accounting, that was why a note receivable was established. The appropriate journals are:

Debit Cash                                        $3,018

Credit Note receivable                   $3,000

Credit Interest receivable                     $18

<em>(Recognition of payment of note receivable with interest)</em>

Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest revenue on the notes is calculated as: Principal x Interest Rate x Time

You can use the formula above to arrive at the interest revenue as: $3,000 x Interest rate%/12 x No of months = $18.

Note that the company can accrue for the interest revenue on a monthly basis and not necessarily wait till collection period before recognizing it. Monthly interest revenue recognition would be:

Debit Interest receivable                    $XXX

Credit Interest revenue                      $XXX

<em>(Monthly interest revenue recognition on note)</em>

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3 years ago
When the craving for pizza increases, the ability to concentrate decreases?
Reptile [31]
Yes it always decreases 
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3 years ago
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Social media is which of the following?
Natasha_Volkova [10]

Answer:

D. All of the above

Explanation:

7 0
3 years ago
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Great Eastern Rectangle (GER) currently has 970,000 shares of stock outstanding that sell for $29.25 per share. Assuming no mark
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Answer:

Please see attachment

Explanation:

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3 years ago
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