Answer:
The answer is $1.55
Explanation:
From the question above, we have the following:
Money spent by customer = $65
Transaction fee = $0.25
Percentage charge = 2% of the total charge
We calculate the total transaction fee as follows:
2% of $65 will be = 0.02 X $65
=> $1.3
Recall that there is a transaction fee = $0.25.
Therefore, total transaction fee:
$1.3 + $0.25
=> $1.55
Answer:
Correct option is A 5.01%
Explanation:
Let irr be x%
At irr,present value of inflows=present value of outflows.
1,500,000=350,000/1.0x+475,000/1.0x^2+400,000/1.0x^3+475000/1.0x^4
Hence x=irr=5.01%(Approx).
Answer:
INCORRECT.
In income summary account, all revenue accounts are closed by debiting them and crediting the income summary account. expense accounts are closed by crediting them and debiting income summary account. then on closing income summary account it shows debit balance if there is a net loss and it shows credit balance if there is a net income.
In the given case clever auto services has debit balance of $5,300 i,e it implies that clever auto services has loss .
Therefore above statement is wrong. It implies a loss of $5300 not the net income of $5,300.
Answer:
A. $1,476 million.
Explanation:
Cash at beginning of the year + cash from operating activities + Cash from investing activities + cash from financing activities
Cash at beginning of the year + $1,504 -$973 -$875 = $1132
Cash at beginning of the year - $344 = $1132
Cash at the beginning of the year = $1132 + $344
Cash at the beginning of the year = $1,476 million
