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ra1l [238]
2 years ago
6

Interest earned on both the initial principal and the interest reinvested from prior periods is called _______.

Business
1 answer:
scZoUnD [109]2 years ago
7 0

Answer:

<em> </em><em>interest </em><em>earned</em><em> </em><em>on </em><em>both</em><em> </em><em>the </em><em>initial</em><em> </em><em>principal</em><em> </em><em>and </em><em>the </em><em>interest </em><em>reinvested </em><em>from </em><em>prior </em><em>periods </em><em>is </em><em>called </em><em><u>compound</u></em><em><u> </u></em><em><u>interest</u></em><em><u>.</u></em>

________________________________

<em>Compound </em><em>interest</em><em>.</em><em> </em><em>The </em><em>interest</em><em> </em><em>which </em><em>is </em><em>added </em><em>on </em><em>to </em><em>the </em><em>initial</em><em> </em><em>investment</em><em>,</em><em> </em><em>so </em><em>that</em><em> </em><em>this </em><em>will </em><em>itself</em><em> </em><em>gain </em><em>interest </em><em>in </em><em>subsequent</em><em> </em><em>perio</em><em>d</em><em>s.</em>

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Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60. If the customer pays within the discount period, what amount
madam [21]

Answer:

The amount that will be reported on the income statement as net sales is <u>$2,940</u> and as gross profit is <u>$940</u>.

Explanation:

Given:

Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60.

If the customer pays within the discount period.

Now, to find the amount reported on the income statement as net sales and as gross profit.

Cost of merchandise = $2,000.

As, merchandise sold for $3,000.

So, to get the net sales we deduct the discount:

Merchandise on terms 2/30, n/60.

3,000-2\%\ of\ 3000\\\\=3,000-\frac{2}{100}\times 3000\\\\=3,000-0.02\times 3000\\\\=3,000-60\\\\=\$2,940.

<u><em>Thus, the net sales is $2,940</em></u>.

Now, to get the gross profit we subtract cost of merchandise from net sales:

\$2,940-\$2,000\\\\=\$940.

<em><u>Hence, gross profit is $940.</u></em>

Therefore, the amount that will be reported on the income statement as net sales is $2,940 and as gross profit is $940.

7 0
3 years ago
The NIPP Call to Action is meant to guide the collaborative efforts of the critical infrastructure community to advance security
Alex17521 [72]

Answer:

B. Promote infrastructure, community, and regional recovery following incidents.

Explanation:NIPP (NATIONAL INFRASTRUCTURES PROTECTION PLAN is a policy of the federal government of the United States of America,it is aimed at ensuring that funds received from the private sector are used to address certain identified critically important and most beneficial infrastructural challenges. This policy is directly connected with Federal agencies and Departments who take part in the infrastructure projects in the United States of America.

6 0
3 years ago
Read 2 more answers
PrimeFlix sells one-year online subscriptions for viewing classic movies. Customers are required to pay for the subscription at
LUCKY_DIMON [66]

Answer:

$3,000

Explanation:

Given that,

On April 1, 2021, total sales of one-year subscriptions = $12,000

Total number of months for which subscription is received = 12 months

Months Relating to year 2022 for which subscription received on 1 April 2021:

= From January 1, 2022 to March 31, 2022

= 3 Months

Deferred revenue is for the three months.

Therefore, the adjusted balance of Deferred Revenue on December 31, 2021 is as follows:

= Amount of subscriptions received × Time period

= $12,000 × (3 ÷ 12)

= $3,000

5 0
3 years ago
The Cook Corporation has two divisions--East and West. The divisions have the following revenues and expenses: East West Sales $
VLD [36.1K]

Answer:

$76,100 net operating loss

Explanation:

The computation of the overall company net operating income (loss) is shown below:

= East sales - east Variable costs - east Traceable fixed costs  - east Allocated common corporate costs - west Allocated common corporate costs

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Since the west division is eliminated so all the items would be ignored except Allocated common corporate costs

4 0
3 years ago
Which of the following is not allowed by scrum refactoring velocity tracking relaease planning hardening sprints
Igoryamba

Answer:

(B) Hardening sprints

Explanation:

Hardening Sprints are not allowed because the subject of hardening should be continuously address throughout normal Sprints.

Or if the question has the following options:

Which of the following is not allowed in Scrum?

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Answer:

(B) Hardening sprints

Explanation:

Using Story Points, Release Planning, Using Planning Poker are not mandatory but allowed. Only hardening sprints are not allowed.

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