Formula: FV = PV(1+ r)^n
Fv is the future value, Pv is the present value, r is the interest rate, n is the number of periods.
FV = $100(1 + 0.06)^(6*2) = $201.22
Answer:
B. $57
Explanation:
The computation of the opportunity cost of the theater shown below:
= Earning per hour × number of hours + cost of the theater ticket
= $9 × 3 hours + $30
= $27 + $30
= $57
To find the opportunity cost we considered the total earnings and the cost of the theater tickets so that the accurate cost of the theater could come.
Answer:
A partnership agreement is binding even if it is not in writing
Explanation:
A partnership is a relationship that exist between two or more people (Usually two to twenty people) to pool their resources and capital together and establish a business enterprise with the aim of making profit.
A partnership agreement can be written on unwritten. Even when unwritten, a partnership agreement is binding and is enforceable in the law court.
A written partnership agreement is called a partnership deed. partners are usually encouraged to have a partnership deed that clarifies the respective positions and duties of each partners.
Answer:
Assets increase $1,500
liabilities increase $1,500.
Explanation:
Based on the information given in a situation where the company make uses of the amount of $1,500 of its cash to purchase supplies which means that the the effect on the accounting equation would be: Assets increase with amount of $1,500 while liabilities on the other hand will increase with amount of $1,500 reason been that Cash is an asset which will increase the assets because it was used to purchase supplies leading to increase in liabilities.
Answer:
$329,700
Explanation:
This can be calculated as follows:
Cost of Goods Manufactured = Direct materials + Direct labor + Total factory overhead + Beginning work in process inventory - Ending work in process inventory
Therefore, we have:
Cost of Goods Manufactured = $159,000 + $97,000 + $75,100 + $29,900 - $31,300 = $329,700
