answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
weeeeeb [17]
2 years ago
6

Kern Company deposited $1,000 in the bank on January 1, 2017, earning 8% interest. Kern Company withdraws the deposit plus accum

ulated interest on January 1, 2019. Compute the amount of money Kern withdraws from the bank assuming that interest is compounded (a) annually, (b) semiannually, and (c) quarterly.
Business
1 answer:
GenaCL600 [577]2 years ago
7 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Kern Company deposited $1,000 in the bank on January 1, 2017, earning 8% interest. Kern Company withdraws the deposit plus accumulated interest on January 1, 2019.

We need to use the following formula:

FV= PV*(1+i)^n

A) i= 0.08 n=2

FV= 1000*(1.08^2)= $1,166.4

B) i= 0.08/2= 0.04    n= 4

FV= 1,000*(1.04^4)= $1,169.86

C) i= 0.02    n= 8

FV= 1,000*(1.02^8)= $1,171.66

You might be interested in
Starbucks carefully crafts its offerings and advertising message, and it strategically sets prices and selects locations to appe
natali 33 [55]

Answer:

E. Target Marketing

Explanation:

6 0
2 years ago
Paxton Co. signed contracts for the purchase of raw materials to be executed the following year at a firm price of $5 million. T
arlik [135]

Answer:

Accrued Loss on Purchase Commitments $2,000,000

Explanation:

December 31, (recognition of loss on purchase commitments)

  • Dr Loss on Purchase Commitments account 2,000,000
  • Cr Accrued Loss on Purchase Commitments account 2,000,000

Since the price of raw materials lowered by 2,000,000, the company lost money on its purchase commitments:

Purchase commitments loss = contracted price - market value = $5,000,000 - $3,000,000 = $2,000,000

The loss on purchase commitments is an expense, and accrued loss on purchase commitments is a liability.

6 0
2 years ago
For the next 2 questions, use the financials of Acme Corporation. After adjusting revenue for accounts receivable and deferred r
Mekhanik [1.2K]

Answer: B. $892.1 million

Explanation:

The Revenue was $939,393 million

When calculating how much cash was generated any increase to the Accounts Receivables is removed from the revenue because it signifies that more sales were made on credit and so have not given the business cash yet.

Any increase in Deferred Revenue must be added because this is Cash that has been given to the business but for accrual purposes cannot be recognized yet. Bottomline however, the Cash has been received.

Increase in Receivables = 309,196 - 221,504

= $87,692 million

Increase in Deferred Revenue= 374,730 - 334,358

= $40,372 million

The Cash generated is therefore;

= 939,393 - 87,692 + 40,372

= $892,073

= $892.1 million

I have attached the Financial Statements of Acme Corporation.

6 0
2 years ago
A firm in the market for designer jeans has some degree of monopoly power. the demand curve it faces has a price elasticity of d
Pavlova-9 [17]

Answer:

$86.67 is the profit maximizing price for the monopolist

Explanation:

In order to find the profit maximizing price for the monopolist using its price elasticity and marginal cost we have to use the formula

Price= Marginal cost* (elasticity/elasticity+1)

Marginal cost = $65.0065

Elasticity = -4

Price = 65.0065 *(-4/-4+1) = 65.0065*(-4/-3)= 86.67

5 0
2 years ago
In your opinion, what would be the consequences if the memory manager and the processor manager stopped communicating with each
Tomtit [17]

The consequence if a memory manager and a processor manager stopped communicating would lead to a negative outcome as they need to communicate in order for the process managaer to process the information that is being delivered in and out and for the memory manager to store each of that information that could be later use in the future and for privacy purposes. If they weren’t able to communicate, the process would be disrupted, causing negative outcomes such as having information to be leaked and to have no organization at all.

4 0
2 years ago
Other questions:
  • Macy wants to buy a skateboard for $42. She has $95 in her account. She spent $12.99 to buy stationary. She also wants to buy so
    12·1 answer
  • An automobile manufacturing company has developed an electric car that uses sunlight to charge itself during movement. In the co
    5·1 answer
  • Apple, known for creativity and innovation, keeps its new innovations consistent with previous product lines to maintain long-te
    11·1 answer
  • At the present time, Perpetualcold Refrigeration Company (PRC) has 10-year noncallable bonds with a face value of $1,000 that ar
    14·1 answer
  • Farmer Donald is selling two parcels of land together. One of the parcels is one square mile and the other parcel is five acres.
    15·1 answer
  • Mike is the director of human resources for a 120-employee family-owned manufacturing firm. Mike has been quite busy the last ye
    8·1 answer
  • Suppose the government is considering penalizing airlines $27,500 per passenger each time passengers are made to remain on the p
    5·1 answer
  • Which of these should a company consider before implementing cloud computing technology? a)Employee satisfaction b)Information s
    13·1 answer
  • Which of the following does NOT match the landform with the process that created it?
    7·2 answers
  • Using the Chipotle example we have discussed in class imagine that all employees are paid $15/hour, the grill costs $300, and ea
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!