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3 years ago

Fiat money has value based on:

Business

1 answer:

ELEN [110]3 years ago

4 0

Answer:

D.an agreement that it can be exchanged for something else.

Explanation:

The value is given thanks to the people who trust the group or gov. that is emmiting this money.

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Gloria deposited $500 into a bank account that earned 7. 5% simple interest each year. She earned $225 in interest before closin

timama [110]

The number of years in which the money is in the account is 6 years.

<h3>What is simple interest?</h3>

Simple interest denotes the amount of payment that is received or paid by a person in return for anything pledged or given a loan.

The interest computed on the principal amount for a specified duration of time and rate of interest is called simple interest.

The formula of simple interest:

$\text{SI}= \text{P}\times r \times t$

Where, (P) stands for principal, (r) for interest rate, and (t) is for the time period.

<u>Computation </u><u>of a number of years:</u>

According to the given information,

P=$500,

r=7.5%,

t=?

SI= $225

Now, substitute the given values in the above formula, we have:

$\text{SI}= \text{P}\times r \times t\\\\\$225=\$500\times\ 7.5\%\times t\\\\t= 6 \text{Years}$

Therefore, the number of years is 6 years.

To learn more about the simple interest, refer to:

brainly.com/question/2793278

5 0

3 years ago

During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $24,000. On the date of delivery, January 2,

oksian1 [2.3K]

Answer:

Explanation:

January 1 Assets - no effect; Liabilities - no effect; Stockholder's equity - no effect

January 2 Assets: Cash -$8000; Equipment + $24000

Liabilities: Short term note payable +$16000

January 3 Assets: Cash -$700; Equipment +$700

January 5 Assets: Cash -$2500; Equipment +$2500

July 1 Assets: Cash -$16720; Liabilities: Short term note payable - $16,000

Stockholders equity - $720

*(24,000-8,000)*0.09*6/12 = $720

2. Acquisition cost of the machine:

Cash paid $8,000

Note payable with supplier $16,000

Freight costs $700

Installation costs $2,500

Acquisition cost $27,200

3. Depreciation(2013) = ($27,200 - residual value of $3,200) *1/10= $24,000/10 = $2400

5. Equipment cost = $27,200

Less: Depreciation [$2400*2] $4800

net book value of the machine at the end of 2014 $22,400

6 0

3 years ago

Read 2 more answers

The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.

Arlecino [84]

Answer:

Date Accounts Titles & Explanation Debit Credit

Dec 31 Rent Expense $2,040

($6,120 *2/6)

Prepaid Rent $2,040

Dec 31 Deferred Revenue $525

Service Revenue $525

Dec 31 Salaries Expense $700

Salaries Payable $700

Dec 31 Supplies Expense $2,390

($3,100 - $710)

Supplies $2,390

Demon Deacons Corporation

Adjusted Trial balance

December 31, 2021

Accounts Debit$ Credit$

Cash 9,100

Account receivable 14,100

Prepaid rent 4080

Supplies 710

Deferred revenue 1,575

Salaries payable 700

Common stock 11,000

Retain earnings 5,100

Service revenue 45,245

Salaries expenses 31,200

Rent expenses 2,040

Supplies expenses <u>2,390</u> <u> </u>

Total $<u>63,620</u> $<u>63,620</u>

Prepaid rent = 6,120 - 2,040 = 4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

8 0

4 years ago

Mr. Slake sold 1,580 shares of publicly traded DDL stock (tax basis $49,240) for $40,000 cash on February 13. He paid $43,000 ca

garik1379 [7]

Answer:

$9,240 loss recognized

$43,000 basis

Explanation:

Tax basis of share purchase is the cost of share together with any tax related to this purchase.

Mr. Slake's loss recognized on the February 13 sale is $9,240 = total cost of 1,580 share purchased in the past - total amount collected from sales of these share = $49,240 - $40,000 = $9,240

His tax basis in purchase of 1,600 shares on Mar 2 is $43,000, the total cost he paid to acquire 1,600 shares

5 0

4 years ago

The 10 million U.S. residents with the highest SES (and the best health care) outlive the 10 million with the lowest SES who liv

mamaluj [8]

The 10 million U.S. residents with the highest SES outlive the 10 million with the lowest SES who live in rundown areas by about <u>30</u> years.

<h3>What is socioeconomic status (SES)?</h3>

Socioeconomic status can be defined as the status of people in a society or community as based on the followings:

Income
Occupation
Education

In the United State of America people who are educated and earn higher income including having the best health care tend to live longer compare to those who live in a very poor condition and has a lowest SES.

Inconclusion 10 million U.S. residents with the highest SES outlive the 10 million with the lowest SES who live in rundown areas by about <u>30</u> years.

Learn more about socioeconomic status here:brainly.com/question/3867614

7 0

3 years ago