Answer:
$6414.27
Explanation:
P= C ( 1+r )^t
Where C = $2000, r =6% and t = 20years
P = 2000 ( 1 + 6/100 )^20
P = 2000 ( 1+0.06 )^20
P = 2000 ( 1.06 )^20
P = 2000×3.20713
P = 6414.2709
P = $6414.27
Answer:
The economist's analysis in this case incorporates the idea of:
A. opportunity costs among alternatives, which is $75 here.
Explanation:
Jack's economist friend is right that Jack lost $75, which represents a 3% return on the $2,500 if Jack had invested it in a bank deposit instead of baseball card. The opportunity cost is, therefore, this potential benefit which Jack has missed or lost because of Jack's choice of investment.
Answer:
June 1
Debit : Cash $5,000
Credit : Common Stock $5,000
June 2
Debit : equipment $1,100
Credit : account payable $1,100
Explanation:
Journalize the transaction.
Answer:
A. Debit Equipment and credit Cash.
- You purchase equipment and you pay in cash.
B. Debit Dividends and credit Cash.
C. Debit Wages Payable and credit Cash.
- You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.
D. Debit Equipment and credit Common Stock.
- You received equipment in exchange for common stock.
E. Debit Cash and credit Unearned Revenue.
- You received cash in advance for some food that you will deliver in the future.
F. Debit Advertising Expense and credit Cash.
- You incurred in advertising costs and you paid them in cash.
G. Debit Cash and credit Service Revenue.
- You sold meals and your clients paid you in cash.
Answer: See explanation
Explanation:
a. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment?
The amount of cash required for the payment will be:
Purchases: = $12,900
Less: Returns = $2500
Less: Discount = ($12900 - $2500) × 1% = ($10400 × 1%) = $104
Cash required for payment = $10296
b. What account is credited by Barans Company to record the return?
Based on the information above, the merchandise inventory will be credited.