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3 years ago

Samantha invested $14,000 at 6% simple interest for 1 year. How much is in the account at the end of the 1 year period

Business

1 answer:

algol133 years ago

6 0

Explanation:

The interest = PTR/100

So, here P = Principcal

T = time

R = Rate of interest

= 14000 x 6 x 1 / 100 = 840

So interest = 840

So, The amount at the end = Principcal + Interest

= 14000 + 840 = 14840

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Brooks Co. purchases various investments in trading securities at a cost of $66,000 on December 27, 2013. (This is its first and

sineoko [7]

Answer:

a) Debit 6,000 to trade securities and Credit $6,000 to Unrealized Gain account

b) Debit $35,000 to Cash account

Credit $33,000 to trade securities account

Credit $2,000 to gain on sales on securities account.

Explanation:

The first part of the question is to determine the year-ended adjusting entry

As follows:

December 31, 2013

Trading Securities = Fair value of the Securities - Trading Securities at Cost

= $72,000 - $66,000

= $6,000

The Journal entry Description Debit Credit

Dec 31, 2013 Trading Securities 6,000

Gain unrealized on securities a/c 6,000

Being the record of unrealized holding gain on trading securities

Part 2) January 3, 2014 Sales of a Portion of Trading Securities

Date Description Debit Credit

Jan 3rd, 2014 Cash 35,000

Trading Securities a/c 33,000

Gain on sales of Securities 2,000

Being the record of sales of a portion of trade securities.

6 0

3 years ago

Estimate the time it would take for earth to get 0.1% heavier at this rate.

Leno4ka [110]

I believe the correct answer to your question would be 10 to 14 years for the earth to get 0.1% heavier.

Hope I could help! :)

6 0

4 years ago

When an account is written off using the allowance method, the net accounts receivable will:_______

xxMikexx [17]

Answer:

The correct answer is a. stay the same.

Explanation:

The method of assigning accounts receivable is performed in order to stop recognizing the accounts that are considered uncollectible, that is, in which all possible resources have been exhausted and therefore no action is expected from the customer. When this method is applied, what is done is to decrease the total value of the obligation, but without affecting the total value of the net accounts receivable.

6 0

3 years ago

Suppose that weekly output is worth $1000, and labor and materials costs are $300 and $200,respectively. What is the multifactor

Georgia [21]

Answer:

c. 2

Explanation:

The multifactor productivity ratio can be determined using the below mentioned formula:

Multi factor productivity=Output worth/cost of material+cost of labor

In the given question:

Output worth=$1,000

cost of material+cost of labor=$300+$200=$500

Multifactor productivity=$1,000/$500=2

So based on the above calculation, the answer is c. 2

4 0

3 years ago

.On February 1, 2018, Middleton Corp. lends cash and accepts a $1,000 note receivable that offers 12% interest and is due in six

Dvinal [7]

Answer:

interest revenue that Middleton Corp. report during 2018 is $20

Explanation:

given data

cash and accepts = $1,000

interest rate = 12% = 0.12

time = 6 month

to find out

How much interest revenue will report during 2018

solution

we get here Interest revenue that is report during 2018 as

Interest revenue report = $1000 × 12 % × $\frac{2}{12}$

Interest revenue report = $1000 × 0.12 × $\frac{1}{6}$

Interest revenue report = $20

so interest revenue that Middleton Corp. report during 2018 is $20

6 0

4 years ago