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3 years ago

is the interest that the bank pays you on the principal plus on the_ that you earned the preceding year.

Business

2 answers:

Yuliya22 [10]3 years ago

7 0

Answer:

Compound interest; interest.

Explanation:

Compound interest can be defined as the interest that the bank pays you on the principal plus on the interest that you earned the preceding year. Thus, it is simply calculated by adding an interest to the initial principal i.e compounding the interest rather than withdrawal.

Mathematically, compound interest is given by the formula;

$A = P(1 + \frac{r}{n})^{nt}$

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

n is the number of times the interest is compounded in a year.

t is the number of years for the compound interest.

garik1379 [7]3 years ago

7 0

Answer:

its compound interest and interest

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Question Continuation

1. The number of physical units that were transferred out and the number that are in ending work in process inventory.

2. The number of equivalent units for materials and conversion for the month.

3. The cost per equivalent unit of materials and conversion for the month.

Answer:

See explanation below

Explanation:

1. .

Units to account for is given as:

Beginning (Work in Process) ------_--------- $2,000

Unit Started at the beginning (April) ----- $28,000

Total = $2,000 + $28,000 = $30,000

Calculating total units accounted for.

Units completed and transferred out ------- $23,000

Ending (Work in Process) ------------------------ $7,000

Total Units = $23,000 + $7,000 = $30,000

Units completed and transferred out

=> $23,000 (units) => 100% (% Materials) => $23,000 (EUP Materials) => 100% (% Conversion) => $23,000 (EUP Conversion)

Units of ending work in process

=> $7,000 (units) => 100% (% Materials) => $7,000 (EUP Materials) => 40% (% Conversion) => $2,800 (EUP Conversion)

Equivalent Units of Production

=> $30,000 (units) => 100% (% Materials) => $30,000 (EUP Materials) => (% Conversion) => $25,800 (EUP Conversion)

Cost per equivalent units of production

Cost of beginning work in process => $45,000 (Direct materials) => $56,320 (conversion)

Cost incurred during this period => $375,000 (Direct materials) => $341,000 (conversion)

Total Cost => $420,000 (Direct materials) => $397,320 (conversion)

Equivalent Units of Production => $30,000 (Direct materials) => $25,800 (conversion)

Cost per equivalent unit of production => $14.00 (Direct materials) => 15.40 (conversion)

Cost per equivalent unit of production is calculated by Total Cost / Equivalent unit of production

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Brief Exercise 259 Mintz Company issued $400,000, 10%, 10-year bonds on January 1, 2017, at 105. Interest is paid annually on De

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Answer:

Dr cash $420,000

Cr bonds payable $400,000

Cr premium on bonds payable $20,000

Dr interest expense($40000-$2,000) $38,000

Dr premium on bonds payable $2,000

Cr cash $40,000

Explanation:

The bond price is the pv of all cash inflows promised by the bond which includes annual coupon and repayment of face value at redemption:

bond price=face value *105%

bond price=$400,000*105%=$420000

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1 year ago

________is the interest that the bank pays you on the principal plus on the_________ that you earned the preceding year.

is the interest that the bank pays you on the principal plus on the_ that you earned the preceding year.