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2 years ago

You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How

Business

1 answer:

Luda [366]2 years ago

8 0

Answer:

$3,088.80

Explanation:

Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96% ( 9%*120/365).

It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:

total repayment=$3000+($3000*2.96% )

total repayment=$3000+$88.80

total repayment=$3,088.80

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a) A person has 5 trousers, 7 shirts, 6 ties, and 3 pairs of shoes. In how many possible distinct ways can the person dress

yKpoI14uk [10]

The person can dress in 630 different ways according to permutation and combination.

<h3><u>What is permutation and combination?</u></h3>

Subsets of a set can be created in two separate ways: combination and permutation. The subset's components can be listed in any order when combined. The components of the subset are listed in a permutation in a certain order.
There are only a finite number of permutations and combinations for each data set. They can therefore be used to calculate the probability of complex events.
The number of possible permutations increases and the likelihood that a particular permutation will occur decreases as a set's elements increase.

First, The person has to decide on pants. So, he has 5 choices. And for each pant, the person has 7 shirts, 6 ties and 3 pair of shoes as choice. So, 5*7*6*3 = 630.

Know more about permutation and combination with the help of the given link:

brainly.com/question/13387529

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1 year ago

Net income of Mansfield Company was $47,000. The accounting records reveal depreciation expense of $82,000 as well as increases

Helen [10]

Answer:

Cash flows from operating activities

Net Income $47,000

Add: Non cash Expense Adjustments:

Depreciation $82,000

Change in Working Capital:

Prepaid rent ($62,000)

Salaries payable $25,000

Income taxes payable <u>$22,000</u>

Less: Net Change in WC <u>$15,000</u>

Net Operating Cash flow <u>$114,000</u>

Explanation:

Cash Flow from operating activities cash generated from to day to day activities of the business. All the cash flows needed to operate the business smoothly.

Depreciation is a non cash expense deducted in the calculation of Net income.

Increase in Liability will provide the cash and increase in assets will use the cash. So, the increase in prepaid expense is classified as increase in Assets and Increase in the Salaries payable and Taxes payable are classified as the increase in liability.

4 0

2 years ago

The supplies inventory on August 1, 2017 was $9,350. Supplies costing $24,150 were acquired during the year and charged to the s

VikaD [51]

Answer:

supplies expense 24,690 debit

supplies 24,690 credit

to record used supplied for the period

Explanation:

we will calcualte the suppliesexpense as follows:

beginning supplies + purchase = ending + consumption

the left side are the input of supplies from the period.

They can be in stock from prior period or being purchased during the current period

Then, the right side is the destination, they could be used or keep at inventory

Now, we plug the values into the formula andd solve for the missing value:

9,350 + 24,150 = 8,810 + consumption

9,350 + 24,150 - 8,810 = consumption = 24,690‬

This will be the supplies expense to recognize

3 0

2 years ago

You produce clothing, and the price of cotton just increased by a lot. As a result, you will most likely _____ your prices.

wlad13 [49]

A.) raise. it will raise the cost because they have to make a profit

3 0

2 years ago

Read 2 more answers

Explain some of the reasons why developing countries have not realized a greater positive development impact from their higher e

Tju [1.3M]

Answer:

Specific country(Nigeria)

(1) High level of corruption in the Educational sector

(2) Inadequate funding

(3) Inconsistent public policy.

Why should solid elementary System take precedence over expansion of University.

(A) To reduce the level of illiteracy and out of school children.

(B) To build a good foundation for the younger Population.

Explanation:

Developing countries are countries that have not yet achieved their full potential,they are improving but still lack in several areas like Education, Infrastructures, funding, Unemployment etc

Nigeria is judged by the World bank, Transparency international as one of the most corrupt countries of the world this is affecting the utilisation of funds for education making it difficult to execute effective development projects in the Educational sector,in Nigeria successive Governments change education policies making it extremely difficult to achieve

greater positive development impact from their higher education programs.

Instead of expansion of the University System it is better to invest in the elementary school level to ensure that the level of illiteracy and out of school children is reduced or eliminated and to build a better future for the younger kids and Population.

3 0

2 years ago