Answer: See explanation
Explanation:
1. Dr Deferred revenue 2,000
Cr. Rent revenue 2,000
2 Dr. Insurance expense 6,600
Cr. Prepaid insurance 6,600
3 Dr Salaries expense 3,000
Cr Salaries payable 3,000
4 Dr Interest expense 250
Cr Interest payable 250
5 Dr Supplies expense 3,900
Cr Supplies. 3900
N. B:
Rent revenue for December was calculated as:
= $4,000 x 1/2
= $2,000
Insurance expense for the current year was calculated as:
= $13,200 x 6/12
= $6,600
Interest expense:
= $15,000 x 10% x 2/12
= $15000 × 0.1 × 2/12
= $250
Supplies expense:
= $1,000 + $3,400 - $500
= $3,900
Answer:
b)
Explanation:
Based on the scenario being described within the question it can be said that the most efficient fix for this error would be to use Find and Replace. This is a feature that allows you to type the error that you made, and the console will find every instance of that error throughout the entire document and change each iteration to whatever you want.
Answer:
Expected withdrawal is $45,000 for 30 years = total of $1,350,000
You will be required to invest in $25.063 every year.
Explanation:
By applying the goal seek formula in excel to determine the annual invested fund, based on a compounded interest rate of 6% over a duration of up to a maximum of 25 years from Year 0, we can clearly see that Savings ought to be $25,063 for every year.
The future Value of each saved fund is derived and added to future value of each years subsequent saved fund to arrive at a total expectation of $1,350,000 expected value after 25 years (i.e. $45,000 annual withdrawal x 30 years of withdrawal)
This brings total savings to $626,572 for the entire 25 years
Kindly refer to the attachment for breakdown of workings.
Answer:
To calculate the amount of interest that Cecil was charged we can use the following formula:
interest charged = (APR / 365) x 30 days x adjusted balance
where:
Adjusted balance = previous balance – current payments = $340 - $150 = $190
interest charged = (19% / 365) x 30 x $190 = $2.97
Answer: reduce the demand for soda and increase the demand for tacos
<span>If tacos and pizza are substitutes, an increase in the price of pizza will increase the quantity demanded for tacos because consumers will substitute tacos for pizza. If soda and pizza are complements, then an increase in the price of pizza will reduce the demand for soda. For the same budget, a consumer may buy pizza alone.</span>
