Answer:
A. $50,000
Explanation:
150,000 for a 3 year compaing = 50,000 per year
<u>The contract has just started </u>and the information available doesn't meet the criteria.
We must remember that <u>accounting has a principle of conservatism</u> regarding revenues. Accrue revenue without proper grounds is not correct. We should recognize the 1/3 of the base fee which is earned and matched the accounting cycle.
Answer:
d. contracts for the sale of goods.
Explanation:
Common law governs all the contracts that are related to employment, services, real estate or construction, insurance, etc
But it does not govern that contract who are related to the Uniform Commerical code (UGC) or by regulations agencies who operates in administrative services
Like the sale or leasing of goods covered under the Uniform Commerical code (UGC) so the same does not come under the common law
hence, the correct option is d
Answer:
$13,013
Explanation:
Mary's monthly payment = principal / PV annuity factor
principal = $33,000
PV annuity factor, 1.5%, 36 periods = 27.6607
monthly payment = $33,000 / 27.6607 = $1,193.0284 ≈ $1,193.03
I prepared an amortization schedule using excel to determine the loan balance after the 24th payment = $13,013
Answer:
1. The increase in savings resulting directly from this change in income is $500
That is
Increase in savings = Increase in income minus increase in consumption
= 2000 - 1500
= $ 500
2.The marginal propensity to save (MPS) is calculated by dividing the change in savings by the change in income.
That is
ΔS/ ΔY,
Therefore given
Change in savings =ΔS =$500
Change in income =ΔY = $2000
MPS = 500/2000
MPS = 0.25
3.The marginal propensity to consume (MPC) is calculated by dividing change in consumption by changes in come.
That is ΔC / ΔY
Where ΔC = 1500
ΔY = 2000
Therefore MPC = 1500/2000
= 0.75
1. The increase in savings resulting directly from this change in income is $