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2 years ago

Alex invested $10,500 in an account that pays 6 percent simple interest. how much money will he have at the end of four years?'

1 answer:

4 0

The amount generated from the investment with simple interest is calculated through the equation,

F = P x (1 + in)

where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.

From this item it can be identified that,
P = $10,500
i = 0.06
n = 4

Substituting the known values,

F = ($10,500) x (1 + (0.06)(4))
 F = $13020

Therefore, after four years, the amount of money that Alex will have is $13,020.

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Glenville Company has the following information for April: Cost of direct materials used in production $280,000 Direct labor 324

ankoles [38]

Answer:

Part 1 . Determine the cost of goods manufactured

Direct materials $280,000

Direct labor $324,000

Factory overhead $188,900

Add Opening Stock of Work In Progress Inventory $72,300

Less Closing Stock of Work In Progress Inventory $76,800

Cost of Goods Manufactured $788,700

Therefore cost of goods manufactured is $788,700

Part 2 . Statement of Cost of Goods Manufactured

Opening Stock of Finished Goods Inventory 39,600

Add Cost of Goods Manufactured 788,700

Less Closing Stock of Finished Goods (41,200)

Cost of Goods Manufactured 787100

Explanation:

Part 1 . Determine the cost of goods manufactured

This is a calculation of all Overheads Incurred in the Manufacturing process

Part 2 . Statement of Cost of Goods Manufactured

It is Important to note that Glenville Company is in the Manufacturing Business and their Cost of Sales cost from cost of Finished Goods.This would be the statement available for external use

5 0

2 years ago

Of the items listed below, which ones have high entropy?

STatiana [176]

A. papers randomly scattered

d. a mixed deck of cards

e. a room after a party

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2 years ago

Two drivers, walt and jessie, each drive up to a gas station. before looking at the price, each places an order. walt says, "i'd

koban [17]

In the question above, Walt asks for 10 gallons of gas while Jessie asks for $10 worth of gas. In both the cases, the drivers need gas but Walt is concerned about the quantity of gas and Jessie is concerned about the price of the gas.
In case of Walt, the price elasticity of demand is zero because he want 10 gallons of gas regardless of the price of gas per gallon. While in case of Jessie, the price elasticity of demand is one because he wants to buy gas worth $10, no matter what is the price of the gas per gallon.

8 0

2 years ago

On January 1, 2018, Surreal Manufacturing issued 570 bonds, each with a face value of $1,000, a stated interest rate of 3 percen

Lana71 [14]

Answer:

Period Carrying cash outlay Interest Amort E.Carrying

1 554,184 17,100 22,167.36 5,067.36 559,251

2 559,251 17,100 22,370.05 5,270.05 564,521

3 564,521 17,100 22,580.86 5,480.86 570,002

journal entries

cash 554,184 debit

discount on bond payable 15,816 debit

bonds payable 570,000 credit

--to record issuance of the bonds--

interest expense 22,167.36 debit

discount on BP 5067.36 credit

cash 17100 credit

--to record interest payment--

bonds payable 570,000 debit

interest expense 22,580.86 debit

discount on bonds payable 5,480.86 credit

cash 587,100 credit

--to record retirement of the bonds

Explanation:

Under the effective interest method we determinate the interest expense by multiplying the carrying value of the bond by the market rate.

554,184 x 4% = 22,167.36

Then we compare with the actual cash payment:

570 bonds x 1,000 dollars each x 3% = 17,100 dollars

The difference will be the amortization on the bonds discount.

This, will generate a new carrying value so the process is repeated until maturity.

The journal entries will be as follows:

on issuance:

we receive cash, so we debited.

We assume a liability so tis credited and we also create the discount account to adjust the face value of the bond to what we really get for them

on interest payment:

we credit the cash outlay in favor of the bondholders

we debit the interest expense generate for the effective rate method

and we credit the discount by the difference

retirement

we credit the total cash outlay (principal + interest of the period)

we write-off the bonds payable and the bond discount

we reocgnize the last interest expense under debit

4 0

2 years ago

Bovindar, a wholesale distributor of gym equipment, organizes its salesforce based on the region it caters to. Therefore, the sa

algol13

Answer:

The answer is option B) Geographic departmentalization

Explanation:

Bovindar, a wholesale distributor of gym equipment, organizes its salesforce based on the region it caters to. Therefore, the salespeople who work in the north, south, east, and west regions of a country report to their respective department heads. In this scenario, which of the following organizational structures does Bovindar most likely Geographic departmentalization.

Geographic departmentalization is used in an organization with a customer base that is geographically dispersed.

To achieve organizational objectives, increase sales and maximize profits, geographic departmentalization comes int play as a strategy that allocate staff according to regions.

Geographic departmentalization divides its operations across different regions with their respective Heads of Department that staff report to.

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2 years ago