Answer:
desktop cost $2433.33
laptop cost $2633.33.
Explanation:
Let x = desktop price
let y = laptop price
from the information given in the question, laptop price is 200 more than the desktop price.
which mean, y = x + 200.
R_1 = Rate of interest on desktop.
R_2 = Rate of interest on laptop.
R_1 = 0.05 * x
R_2 = 0.07 * y
The total finance charges for one year is 350.
therefore
R_1 + R_2 = 350
0.05x + .07y = 350.
since y = x + 200,
.05x + .07(x+200) = 306.
.05x + .07x + 14 = 306
0.12X = 292
X = $2433.33
We know that
since y = x + 200,
therefore y = $2633.33.
desktop cost $2433.33
laptop cost $2633.33.
I believe it is B. Save his word processing document as a .txt file.
Answer:
b) 12.21%
Explanation:
The computation of the quoted annual rate of return is shown below:
Given that
Future value = $1,000 × 108% = $1,080
Present value = $868
NPER = 6 years
PMT = $1,000 × 8% = $80
The formula is shown below:
= RATE(NPER;PMT;-PV;FV;TYPE)
The present value comes in negative
After applying the above formula, the annual rate of return is 12.21%
Therefore the correct option is b.
Answer:
See explanation for all the requirements.
Explanation:
Requirement A
Mathers Co.
Bank Reconciliation
July 31
Cash balance according to bank statement $
24,000
Add: deposit in transit $3,680
Deduct: outstanding checks <u> (4,590)</u>
Adjusted balance $23,090
Cash balance according to company's records $22,600
Add: Error in records payments (710-170) $540
Less: Bank charge <u> ($50)</u>
Adjusted balance $23,090
Requirement B and C
B. If the balance sheet is prepared for Mathers Co. on July 31, $23,090 should be reported for cash.
C. It is a necessary procedure for a bank and an individual or an organization to adjust the bank balance and book balance to avoid any kind of errors. Therefore, reconciliation is always significant. A bank must always do a reconciliation.
Answer:
a.
7.22%
Explanation:
The computation of the return on total assets is shown below:
= Net income after taxes ÷ total assets at the end of the last year
= $22,750 ÷ $315,000 × 100
= 7.22%
Hence, the return on total assets is 7.22%
Therefore the correct option is a.
