Answer:
The Interest should be posted as an Income as Other Income in the Income Statement.
Explanation:
Interest income is the amount received by an entity from another usually a Bank for the use of its funds.
The recognition of Interest Income will be determined by the type of business of the entity. For income to be identified as under Business Operation income, it means it must be a huge source of revenue or part of its daily operations. A healthcare business is not in the business of loaning funds neither does it earns it major revenue from Bank deposits.
The price elasticity of demand measures by what percent the quantity demanded will change following a 1% price increase.
<h3>What is the price elasticity of demand?</h3>
The price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
For example if price increases by 10% and quantity demanded decreases by 20%, the price elasticity of demand would be 2.
To learn more about price elasticity of demand, please check: brainly.com/question/18850846
If the people conducting said experiment specifically wanted to select a random group of typical people it could be considered stratified. if they specified that they wanted any group of typical people then it would be simple random. Just looking at the supplied info, i'm pretty sure it's simple random.
Answer:
The present value for each year is calculated at 4% interest. In this question the present value be the sum of the cash deposits plus the interest for each year.
Present Value
= Sum of cash deposits for each year + Interest for each year
= 23100 + 9240
= 32340
Explanation:
To calculate the sum of the cash deposits, add the deposit for each year.
(Year 1 to Year 21 = 23100)
To calculate the interest for each year, take the cash deposit for the year and multiply it by 4%. (Year 1 to Year 21 = 9240)
Refer to the attached spreadsheet to assist with the calculations and the answer given above.
Answer:
Credit to refund liability of $280,000.
Explanation:
The year end adjusting entry would be
Sales Return $280,000 ($21 million × 8% - $1,400,000)
Refund Liability $280,000
(Being the anticipated sales return is recorded)
Here the sales return is debited as it increased the sales return and the refund liability is credited as it increased the liabilities
The same is to be considered