Answer:
<h2>r= 6.054% per year</h2>
Explanation:
given that
principal P= $10,000
final amount A= $18,000
time t= 10 years
To find the annual rate we will use the formula below and solve for r
![r = [(\frac{A}{P} )^\frac{1}{t} - 1]](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7BA%7D%7BP%7D%20%29%5E%5Cfrac%7B1%7D%7Bt%7D%20%20-%201%5D)
Substituting our data into the expression and solving for r we have
![r = [(\frac{18000}{10000} )^\frac{1}{10} - 1]\\\\r = [(1.8 )^\frac{1}{10} - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\r={1.06054-1}\\\\r= 0.06054](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7B18000%7D%7B10000%7D%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5Cr%3D%7B1.06054-1%7D%5C%5C%5C%5Cr%3D%200.06054)
Calculate rate of interest in percent
r = 0.06054* 100
r= 6.054% per year
Answer:
Option B and C are correct because adjusting entries arises due to mistakes and errors found in the recording of transactions and this does not arises in the start of the accounting period. It arises in the month ends and interim & final audits. The internal auditors also reviews the financial statements to eliminate all the errors and ommissions in the Financial statement.
Option A is incorrect because adjusting entries are passed both in accrual accounting and cash accounting system.
Option D is incorrect because these adjustments arises at the end of months and year audits.
Answer:
True.
Explanation:
Lean manufacturing is a production method in which companies focus on reducing wastage of available resources and maximize productivity of manufacturing process. This process includes introducing activities to minimize harm to environment by draining harmful waste, using environmental friendly products and minimize usage of raw material. Lean manufacturing focuses to improve the product quality to provide greater value to customers.
Answer:
$16,335.90622
Explanation:
The computation of the additional income earned is shown below:
For 40 years
Future value = Present value × (1 + rate of interest)^number of years
= $1,500 × (1 + 0.065)^40
= $18,624.1118
For 50 years
Future value = Present value × (1 + rate of interest)^number of years
= $1,500 × (1 + 0.065)^50
= $34,960.01802
Now the additional amount is
= $34,960.01802 - $18,624.1118
= $16,335.90622
