Answer:
23.68%
Explanation:
The computation of the cost of not taking a cash discount is shown below:-
Cost of not taking a cash discount = [Discount percentage ÷ (100% - Disc.%)] × (360 ÷ (Final due date - Discount period))
= (2% ÷ 98%) × (360 ÷ (50 - 19))
= 2.04% × 11.61
= 23.68%
Therefore for computing the cost of not taking a cash discount we simply applied the above formula.
Answer:
A. Social needs
Explanation:
Social need is an individual need to have a relationship with others. It involves socialization with one's environment and society. According to Maslow hierarchy of needs, the social need comes after an individual psychological and safety need as been accomplished. Social needs involves making friends, finding love, having lots of intimacy and various series of connections with other individuals. By been able to make new friends and understand her city, the new job seemed to satisfy Serenity need for social relationships and interactions.
Answer:
$1,926.97
Explanation:
Given the following :
Loan amount (L) = 8,180
Interest rate (I) = 5.3%
Period (n) = 4 years
Using the formula:
A = L(1 + I/t)^nt
Where A = final amount
t = number of compounding periods per year
A = 8180( 1 + 0.053/12)^(4 * 12)
A = 8180 ( 1 + 0.0044166)^48
A = 8180 * ( 1.0044166)^48
A = 8180 * 1.2355709
A = 10106.970
Final amount after 4 years = 10,106.970
Hence amount Paid as interest over that period will be :
Final amount - Loan amount
10,106.970 - 8,180
= $1,926.97
Answer:
Explanation:
The journal entry is shown below:
Accumulated depreciation - machine A/c Dr $28,000
Loss on disposal of machine A/c $1,000
To Cash $1,000
To Machinery A/c $28,000
(Being the disposal of machinery is recorded)
For disposal of machinery, we debited the accumulated depreciation, loss on disposal of machine and credited the cash account and machinery account
Answer:
$25,000
Explanation:
The value of inventory at the end of the end of the period will be equal to
Value of inventory = Cost of goods sent less the cost of goods already sold.
<em>Remember the arrangement is that of agency, hence the goods are not deemed to be sold except the agent has been able to exchange them for revenue in a sales contract with his own buyers.</em>
Also the sales commission would be reported under a separated ledger which will be reported as part of the operating expenses.
Amount of inventory = $105,000 - $80,000
= $25,000
