Answer:
$1,500
Explanation:
On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.
Answer:
c. Bill is the superintendent of schools, and John is the chair of the school board
Explanation:
Bill is the superintendent of schools, and John is the chair of the school board
Answer:
a. $34,900
Explanation:
The computation of the cost of direct material used is shown below:
= Opening balance of raw material + purchased materials - ending balance of raw material
= $10,300 + $34,400 - $9,800
= $34,900
Hence, the correct option is a.
Answer:
The answer is: Buyers will bid the asset's price down until it equals the present value of income.
Explanation:
As the current asset price is greater than the present value of income, it is overpriced.
So, seller is much willing to sell at this price, however, buyers does not want to buy asset at this price as they only want to purchase it at the price equals to the present value of its income.
So, Buyers will bid the asset's price down until it equals the present value of income which is the level they are willing to buy and also at which the seller is willing to sell also.
This problem is solved by using the compound interest formula:
A=P(1+(I/period))^(number of periods)
Where A = amount accumulated and P = amount loaned and I = Interest
A = ? P = $2, 000, I = 0.115, Period = 2 (semi annually) Number of period = 2
*7 (I. e paid twice over a 7 yrs span)
So we have
A = 2000 ( 1 + 0.115/2)^(14)
A = 2000 ( 1 + 0.0575)^(14)
A = 2000 (1.0575)^(14)
A = 2000 (2.1873851765154) = 4374.77035
So we have 4374.80 to the nearest cent.
