Answer:
what problem occurs when money is not of a uniform quality?
- People will hoard high-quality money and spend low-quality money. As a result, the money used in transactions will be of inferior quality.
One of Isaac Newton's most popular inventions are the coin edge grooves. Before people would file metal coins to gather gold or silver dust that they would later melt. By adding edge grooves to the coins, that was reduced. Before when people traded with non-uniform coins, good coins were actually more valuable because they were not filed yet. If you had to choose which coins to use, you would always prefer to use the filed coins of inferior quality.
unlike pennies and nickels, which cost more to produce than they are worth, paper money and quarters are:
Token money is any note (bill) or coin whose value is not related to the material of which they are made of. E.g. a $100 dollar bill is worth much more than a small piece of paper.
Answer:
$1,000
Explanation:
The computation of gain on sales is given below:-
Depreciation per year = $40,000 - $10,000 ÷ 10
= $3,000
Life of equipment = 5.5 years
Accumulated Depreciation on equipment = 5.5 × $3,000
= $16,500
Book value of equipment = $40,000 - $16,500
= $23,500
Gain = Proceed from sale - Book value at the time of sale
= $24,500 - $23,500
= $1,000
Explanation is in the file
tinyurl.com/wpazsebu
Answer:
Net cash flow as at the year end= $22,100
Explanation:
The statement of cash flows for Moore shall be calculated as follows:
Cash balance as at January 1, 2018= $54,000
Cash inflow from operating activities= $35,600
Cash outflow from investing activities= ($43,000)
Cash outflow from financing activities= ($24,500)
Net cash flow as at the year end= $22,100