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patriot [66]
3 years ago
13

You are considering investing in a European bank account that pays a nominal annual rate of 18%, compounded monthly. If you inve

st $5,000 at the beginning of each month, how many months would it take for your account to grow to $268,000? Round fractional months up.
a. 40
b. 36
c. 38
d. 34
e. 44
Business
1 answer:
Molodets [167]3 years ago
7 0

Answer: c

Explanation:

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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Orio
zmey [24]

Answer and Explanation:

The journal entry to record the sales transaction is given below:

On April 10

Cash Dr $25,725

       To Sales revenue $24,500

       To Sales tax payable $1,225

(Being the sale is recorded)

Here cash is debited as it increased the assets and revenue & sales tax payable is credited as it increased the  revenue & liabilities

3 0
3 years ago
Ghana is the largest exporter of cocoa, while Netherland is the largest importer of cocoa. How have the two participating countr
VladimirAG [237]
I believe the correct answer from the choices listed above is the second option. The two <span>participating countries were benefited by global trade in terms of </span><span>economic growth in both the countries. Hope this answers the question. Have a nice day.</span>
3 0
3 years ago
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The diffusion of innovation refers to the rate at which consumers ______ a given product or service.
Yuri [45]

Answer:

adopt

Explanation:

4 0
3 years ago
alderwood company has provided the following information prior to any year-end bad debt adjustment: cash sales, $455,000 credit
nordsb [41]

If  sales discounts, $57,000 allowance for doubtful accounts credit balance, $3,800 alderwood prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is estimated to be uncollectible. The bad debt expense is:$13,450.

<h3>How to determine the Bad debt expenses ?</h3>

First step is find the Required Balance using this formula

Required Balance =Accounts Receivables × Percentage of Uncollectible

Let plug in the formula

Required Balance =$345,000 × 5%

Required Balance =$17,250

Now let find the bad debt expenses using this formula

Bad debt expenses = Required Balance - Existing Credit Balance

Let plug in the formula

Bad debt expenses = $17,250 - $3,800

Bad debt expenses = $13,450

Therefore we can conclude that the Bad debt expenses  is the amount of $13,450.

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6 0
1 year ago
On January 2, year 1, Lava, Inc. purchased a patent for a new consumer product for $90,000. At the time of purchase, the patent
Archy [21]

Answer:

The amount Lava should charge against income during year 4 is $63,000.

Explanation:

Since amortization is assumed to be recorded at the end of each year, this can be calculated as follows:

Annual amortization expense = Cost of the patent  / Patent's estimated useful life = $90,000 / 10 = $9,000

Amortization expense recorded prior to year 4 = Annual amortization expense * 3 years =  $9,000 * 3 = $27,000

Unamortized cost of patent charge against income during year 4 = Cost of the patent - Amortization expense recorded prior to year 4 = $90,000 - $27,000 = $63,000

Therefore, the amount Lava should charge against income during year 4 is $63,000.

4 0
3 years ago
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