Answer:
It will take 16.09 years.
Explanation:
Giving the following information:
Future value= $20,000
Present value= $5,000
Interest rate= 9%
<u>To calculate the number of years required to reach the objective, we need to use the following formula:</u>
n= ln(FV/PV) / ln(1+i)
n= ln(20,000 / 5,000) / ln(1.09)
n= 16.09
It will take 16.09 years.
Answer:
January $153,825
February $248,600
March $301,650
Explanation:
Computation for cash collections from customers for each month:
January February March
January: ($205,100 x 75%=$153,825) ($205,100 x 25%=$51,275) $0
February: $0 ($263,100 x 75%= $197,325) ($263,100 x 25%=$65,775)
March: $0 $0 ($314,500 x 75%=$235,875)
TOTAL $153,825 $248,600 $301,650
Therefore cash collections from customers for each month is :
January $153,825
February $248,600
March $301,650
Answer:
$0 because an agreement to accept different performance in lieu of full payment of liquidated debt is binding.
Explanation:
Since there is an agreement between Amy, a baker, and her brother, she owes him $0.
At first, Amy gets a loan of $3,000 from her brother to pay for her dream home. She agrees to pay him back in one year, and that agreement was binding. During the time to pay back the loan, Amy offers to bake her brother's wedding cake instead of paying back the loan and her brother accepts. This has presented a new agreement that overrules the previous agreement. Now instead of paying back the $3,000, she would bake a wedding cake for him. This implies that the wedding cake is equal to $3,000.
Therefore, she owes him $0.
Answer: just give what u know the business is small so it can’t manage
Explanation:
Answer:
It will be reported as accrued expenses (c)
Explanation:
Accrued expenses represents amount owed for either serviced that has been enjoyed or goods that have been delivered but yet to be paid for.
Income statement is prepared on accrual basis, hence, these expenses will be recognized in the current period and matched with revenues generated.