Answer:
Given that,
Note face value = $12,000
Interest rate = 7%
Time period = 90 days
Interest amount:
= Face value × Interest rate × Time period
= $12,000 × 0.07 × (90/360)
= $210
Therefore, the journal entry is as follows:
On October 30,
Interest receivables A/c Dr. $210
To Interest revenue $210
(To record the interest value on note)
Answer:
<h2>r= 6.054% per year</h2>
Explanation:
given that
principal P= $10,000
final amount A= $18,000
time t= 10 years
To find the annual rate we will use the formula below and solve for r
![r = [(\frac{A}{P} )^\frac{1}{t} - 1]](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7BA%7D%7BP%7D%20%29%5E%5Cfrac%7B1%7D%7Bt%7D%20%20-%201%5D)
Substituting our data into the expression and solving for r we have
![r = [(\frac{18000}{10000} )^\frac{1}{10} - 1]\\\\r = [(1.8 )^\frac{1}{10} - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\r={1.06054-1}\\\\r= 0.06054](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7B18000%7D%7B10000%7D%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5Cr%3D%7B1.06054-1%7D%5C%5C%5C%5Cr%3D%200.06054)
Calculate rate of interest in percent
r = 0.06054* 100
r= 6.054% per year
Answer:
d. Queen’s Quilts
Explanation:
Options are "Hannah’s Hair Salons, Busker Baseball Team
, Darling Dentistry
, Penelope’s Fresh Pretzels
, Queen’s Quilts"
a. Salons, Dentistry : these are services which cannot be outsourced partly or fully.
b. Baseball team: It is a sports team which cannot operate partly in another country.
c. Pretzels: These are freshly baked pastries or food items which needs to be made fresh , so cannot be outsourced.
d. Quilts: These are textile which can be produced in countries having cheap labor .
Answer:
The answer is B. very wide differences in the standard of living
Explanation:
Economists use Gross Domestic Product (GDP) which is the final value of all goods and services produced within a country during a given period of time, usually a year as the ultimate yardstick for measuring and ranking countries' wealth, standard of living and/or illiteracy level.
And GDP per capita measures a country's economic output per person. It is by dividing the GDP of a country by its total population. Countries with the highest value are known to have a high standard of living, better health care and high literacy level and vice-versa.
Answer:
The Uniform Customs and Practice for Documentary Credits (UCP) is published by the International Chamber of Commerce and was revised in 1993 and put into use January 1, 1994. The purpose of the UCP is to clarify gray areas that may appear in a letter of credit and to help banks interpret conditions in the letter of credit in a consistent manner.
However, as anyone who has ever worked with a letter of credit knows, there is plenty of disagreement between all parties concerned. Banks, account parties, and beneficiaries can all disagree about what complies and what does not comply when the shipping documents are checked against the terms of the letter of credit.
Sometimes the UCP just doesn’t clarify a situation the way you think it should. After all there is a huge difference between the words “will” and “may.” For instance: “Banks will accept…” versus “Banks may accept….” One is definite and the other appears to be open to interpretation. It’s not surprising confusion results.
