Answer:
a. Cash basis $15,000
b. Accrual basis $2,500
Explanation:
Under the cash basis of accounting, expenses are recorded or recognized in the books not necessarily when incurred but when cash is paid. This is not in line with the matching concept which requires that expenses be recognized the period it is incurred as well as the resulting revenue.
Hence, the $15,000 paid on January 1 would have been recognized as an expense for the two months ending February 28 using the cash basis.
Using the accrual basis, monthly expense
= $15,000/12
= $1,250
Hence advertising expense for 2 months
= 2 * $1,250
= $2,500
Answer:
A well-respected chairman of the Federal Reserve Bank suddenly resigns
Explanation:
A non-diversifiable or systematic risk, is a risk which is common to a whole market or class of investments and not just limited to just a particular company or investment.
Non-systematic risk is a risk common to just an investment or a company.
If the chairman of the Federal Reserve Bank suddenly resigns, it would affect a wide range of investments in the market and not just a company, which is an example of a non-diversifiable risk.
Answer:
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Explanation:
Answer:
Monthly payment = $769.27
Explanation:
First we have to determine the future value of the ordinary annuity:
Payment = $235.15
N = 20 * 12 = 240
Rate = 3.2% / 12 = 0.267%
Using a financial calculator and the FV function, the FV = $78,910.41
Again, using the financial calculator or Excel, you can determine the monthly payment:
N = 10 / 12 = 120
Rate = 0.267%
PV = $78,910.41
FV = $0
Monthly payment = $769.27
Answer:
D) Store all chemicals in a well-lit, warm area
