Answer:
Hie, the question you have provided is missing information relating to <em>Accumulated depreciation</em> or <em>book value of the furniture</em> as well as <em>profit</em> or <em>loss</em> on sale of furniture.
However, important principles are explained below :
The Furniture Disposal T - Account is used to calculate the cash received from the sale of furniture.
The Format of the Account is as follows :
Debits :
Record the Costs of the Furniture Sold. In this cases Cost is $75,900
Record the Profit on Sale of Furniture (if there was profit). The information is incomplete in this case.
Credits :
Record the Accumulated Depreciation on the Furniture. This figure is missing.
Record the Loss on Sale of Furniture (if there was a loss). The information is incomplete in this case.
The Balancing figure would be the Cash Received on sale of Furniture and to be recorded here.
Conclusion :
The Cash Received on Sale of Furniture is a Balancing figure of the Furniture Disposal T - Account.
Answer:
The magic of compound interest happens in a way that the more you put in, the faster your money grows.
Explanation:
The magic of compound interest happens in a way that the more you put in, the faster your money grows. The interest you earn on the amount you save also earns interest and this snowballing effect makes you accumulate your savings even faster. For example, if you deposit $100 in a savings account that pays 5% interest per year. At the end of the year, you account will have (5%*100= 5) plus the $100 you deposited, coming to a total of $105. At the end of the second year, your $5 interest earned in year 1 will earn another 5% interest and so will the $100 you initially deposited.
Answer:C. cash flow from operations may increase
Explanation:
A factoring system is one in which a firm sell his right to receive payments on it's receivable to a firm referred to as the factor as a discount in which the amount of discount represents the factor fees for taking up the risk.
The factor may be with or without recourse to the firm selling the receivable.
It's mostly entered into to reduce payment defaults and increase inflow of cash for operations.
The factor company does not need to be a consolidated company,it usually reduce the receivable and does not require a change in accounting principles.
Answer:
total finance charge = $203.08
her monthly payment = $105.13
Explanation:
The Loan amount = Cost of Appliance - Down Payment
= $2,900 - ($2,900 × 20%)
= $2,320
Change the APR to nominal compounding,
Using a Financial Calculator, this will be :
8.50 % Shift EFF%
12 Shift P/YR
Shift NOM % = 8.19%
Then calculate the <em>monthly payment</em> as follows :
Pv = $2,320
n = 24
p/yr = 12
r = 8.19%
Fv = $0
PMT = ?
Using a Financial Calculator, monthly payment, PMT is $105.13
Total Finance Charge will then be obtained from the amortization schedule from the First Period to the 24th Period and this will be : $203.08.
Answer:
A. cost-plus regulation
Explanation:
When a local regulator calculates the average cost of production for the public water utility or any other service and allow an adjustment for the normal rate of profit the firm should expect to earn, and then set the price that consumers can be charged accordingly, this is known as cost-plus regulation.
It is usually carried out by the government.
