Answer: The statement "d. The excess of the credits of an asset account over the debits is the balance of the account.". is <u>NOT TRUE.</u>
Explanation: The statement "d." is not true because according to the basic equity equation (ASSETS = LIABILITIES + EQUITY).
The excess of the debits of an asset account over the credits is the balance of the account and the excess of the credits of an owner's equity account or a liability account over the debits is the balance of the account.
The amount generated from the investment with simple interest is calculated through the equation,
F = P x (1 + in)
where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.
From this item it can be identified that,
P = $10,500
i = 0.06
n = 4
Substituting the known values,
F = ($10,500) x (1 + (0.06)(4))
<em> F = $13020</em>
Therefore, after four years, the amount of money that Alex will have is $13,020.
Answer:
d. may have too many or too few firms, but the government can do little to rectify the situation.
Explanation:
Answer:Allocated MOH= $16
Explanation:
Giving the following information:
teller transaction processing ($2.80 per teller transaction)
check processing ($0.25 per canceled check)
ATM transaction processing ($0.20 per ATM transaction).
<u>To allocate overhead, we need to use the following formula:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 2.8*4 + 0.25*12 + 0.2*9
Allocated MOH= $16
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