Answer:
Bill must earn at 4.89% interest rate
Explanation:
The rate that Bill must earn on the $26,000 in order to be able to accumulate $30,000 in three years' time is computed below using the future value formula:
FV=PV*(1+r)^N
FV is the future value of $30,000
PV is the principal to be invested today of $26,000
N is the duration of the investment of 3 years
r is the unknown
30,000=26000*(1+r)^3
divide both sides by 26,000
30000/26000=(1+r)^3
divide the index on both sides by 3
(30000/26000)^(1/3)=1+r
r=(30000/26000)^(1/3)-1
r=1.048856246
-1
r=0.048856246
r=4.89%
Explanation:
The second closing entry is as follows
Income summary Dr $48,000
To Depreciation Expense $25,000
To Salaries expense $23,000
(Being the expenses account are closed)
While closing the expenses account we debited the income summary account with a total amount of expenses account and credited the expenses account individually with their amount
Answer:
The supply of Nigeria cocoa nibs will increase this year.
Explanation:
last year Nigeria supplied at $9 per 10 pounds but this year its supplying at $12 per pounds, this means that the Nigerian nibs quantity will have to increase to cover up for the demand of its goods.
Answer:
C. Someone starting a new business
Explanation:
- An entrepreneur is a person who organizes and operates the business and takes into consideration all the factors associated with the business as they take big risks.
- And also performs experimentation with the assets of the company and promotes the industry. These tend to take the calculated risks are like those economists that follow economic principles.
Answer:
$ 13.167 / unit
Explanation:
Data provided:
Beginning material cost = $ 126,000
Number of units in work in progress = 12,000 units
Material cost assigned = $ 32,000
thus,
the total material cost involved = $ 126,000 + $ 32,000 = $ 158,000
Now,
the material cost per equivalent unit = Total material cost involved / number of units
on substituting the values, we have
the material cost per equivalent unit = $ 158,000 / 12,000
or
= $ 13.167 / unit
