Answer:
We have a total Debit and credit amount of $24,400
Explanation
Attached herewith is the adjusted trial balance of the company. In preparation of trial balance, we must consider na nature of the accounts to be recorded. All assets account with normal balances should be posted as debits. All Liabilities and equities accounts with normal balances should be posted on credit side. Revenue is on credit side and all expenses on the other hand is posted on debit side.
The model that best fits the given situation is exponential
<h3>what is an Exponential Function?</h3>Exponential function, in mathematics a relationship of the form y = , where the independent variable x extends over the entire real number line as an exponent of a positive number a. The most important exponential function is y =
.
Here,
The value of a classic car = $50,000
It is increasing in value by 5% per year.
So, here we have a = 50,000 and x = 5%
The function is increasing.
b = 1+5%
b = 1+0.05 = 1.05
Hence, the function that describes this situation is given by:
To learn more about Exponential Function from the given link
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