Assume the following: Beginning finished goods inventory $ 10,000 Ending finished goods inventory $ 8,500 Cost of goods manufactured $ 52,000 What is the unadjusted cost of goods sold?
Answers
Beginning finished goods inventory $ 10,000 Ending finished goods inventory $ 8,500 Cost of goods manufactured $ 52,000, the unadjusted cost of goods sold is $53,500.
To calculate the unadjusted cost of goods sold, we need to consider the changes in the finished goods inventory. The formula for calculating the unadjusted cost of goods sold is as follows:
Unadjusted Cost of Goods Sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory
Given the following information:
Beginning Finished Goods Inventory = $10,000
Ending Finished Goods Inventory = $8,500
Cost of Goods Manufactured = $52,000
Plugging the values into the formula:
Unadjusted Cost of Goods Sold = $10,000 + $52,000 - $8,500
Unadjusted Cost of Goods Sold = $62,000 - $8,500
Unadjusted Cost of Goods Sold = $53,500
Therefore, the unadjusted cost of goods sold is $53,500.
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Related Questions
In our city, it’s obvious that we have a problem. Too many small contractors are doing work that would never pass inspection or meet the standards of any regulating body. Too often, these contractors hire laborers without experience in any trade, without recognizable qualifications to perform the work they are paid to do, and without membership in any reputable trade organization. These workers are unaware of construction guidelines and regulations or the best practices of their trades, and this ignorance shows in the reliability, quality, and above all safety of their work. Responses Small contractors need to hire professionally qualified laborers to do better work. Small contractors need to hire professionally qualified laborers to do better work. Small contractors are not obligated to vet the professional ability of the laborers they hire. Small contractors are not obligated to vet the professional ability of the laborers they hire. Small contractors must submit more of the work they do for inspection. Small contractors must submit more of the work they do for inspection. Small contractors should form local trade organizations to improve standards.
Answers
The passage implies the need for professionalization as Small contractors need to hire professionally qualified laborers to do better work. Thus the correct option is B.
What is Professionalisation?Professionalization is referred to as a technique in which more emphasis is given to training and development to make an individual skilled in the workplace and to meet the social criteria of working.
In this passage, there are so many issues that have been discussed which describe the loopholes of working on construction sites. To deal with the challenges small contractors need to recruit skilled and talented laborers to improve the effectiveness of work.
These skilled workers provide quality work in a timely manner and help to complete the target of the business and achieve growth.
Therefore, option B is Appropriate.
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The complete question is probably
What does the following passage imply about the need for professionalization?In our city, it's obvious that we have a problem. Too many small contractors are doing work that would never pass inspection or meet the standards of any regulating body. Too often, these contractors hire laborers without experience in any trade, without recognizable qualifications to perform the work they are paid to do, and without membership in any reputable trade organization. These workers are unaware of construction guidelines and regulations or the best practices of their trades, and this ignorance shows in the reliability, quality, and above all safety of their work.
Small contractors are not obligated to vet the professional ability of the laborers they hire.
Small contractors need to hire professionally qualified laborers to do better work.
Small contractors should form local trade organizations to improve standards.
Small contractors must submit more of the work they do for inspection.
Mateo’s instructor tells him that before he goes further in his job search, he needs to engage in some introspection. How would Mateo’s actions BEST demonstrate introspection?
A.
He is visiting with his friends more frequently.
B.
He is journaling about his strengths and weaknesses.
C.
He is asking his parents for a loan to buy professional clothes.
D.
He is cooking all of his meals at home instead of going out.
Answers
He is journaling about his strengths and weaknesses is Mateo’s actions BEST demonstrate introspection. Because then only he can understand the potential of himself for doing anything.
What is the strength and weakness?Strengths are the potential traits and skills that a person poss of and with the help of the strength, the person build themselves in a job career.
Weakness is the skills and trait that is considered negative for any person that lags them down in the career, they always tried to overcome their weakness.
Thus, option B is correct.
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Are you surprised a couple with a joint income of $200,000 is priced out of the housing market well above average in the US approximately 6% of the population? Explain!
At least three sentences to be put as the brainliest. Due tomorrow!
Answers
A couple with a $200,000 joint income is priced out of the housing market It's not unexpected, especially in locations where the cost of living is high and demand for property is high.
The given question is an opinion based on the answer written in a generalized manner keeping in mind the income and housing market of the United States.
The high cost of housing can have serious consequences for people, families, and communities. since people with higher earnings may be able to buy houses, It may result in growing economic inequality.
The high cost of housing in the United States is a complex issue driven by a variety of factors, including economic trends, government regulations, and social attitudes.
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Distinguish between dependent and independent demand in a McDonald's restaurant, in an integrated manufacturer of personal copiers, and in a pharmaceutical supply house.What two basic questions must be answered by an inventory control decision rule?What is the purpose of classifying items into groups, as the ABC classification does?
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Distinguish between structured and impartial demand in a McDonald's restaurant. a) Independent demand is the type of demand that is now now not reliant on the prefer for every different product and is as a result bump off independently, whereas primarily based demand requires the success of the distinct demand first.
What is the distinction between hooked up demand and impartial demand?Demand is independent if it is unrelated to demand for any other product or service. Demand is primarily based if it is derived from the demand for some other product or service. Independent demand desires to be forecast; however, necessities for established demand are calculated from the impartial items.
Dependent demand is the demand for aspect parts, raw materials, or sub-assemblies. This demand does now not show up until there is demand for a mom or father item, which is typically a product
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https://brainly.com/question/29850227#SPJ1people who are underemployed, in the sense of being overeducated and overqualified for their jobs, are:
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People who are underemployed, in the sense of being overeducated and overqualified for their jobs, are individuals who possess higher levels of education, skills, or qualifications than what is required or utilized in their current employment. This situation often arises due to a mismatch between the individual's qualifications and the available job opportunities in the labor market.
Being overeducated and overqualified for a job can have several implications for individuals. Firstly, it can lead to feelings of frustration, dissatisfaction, and demotivation. They may feel that their skills and knowledge are not being fully utilized, leading to a lack of fulfillment and a sense of wasted potential.
Secondly, being underemployed can result in lower earnings and reduced career advancement opportunities. Overqualified individuals may find themselves in lower-paying jobs or positions that do not align with their career aspirations. This can hinder their ability to fully leverage their education and skills to secure higher-paying and more fulfilling employment.
Furthermore, underemployment can have broader societal consequences. It can contribute to the underutilization of human capital and hinder overall economic productivity. When a significant portion of the workforce is underemployed, it represents a mismatch between the skills available in the labor market and the skills demanded by employers.
Addressing underemployment requires efforts at multiple levels. Governments, educational institutions, and employers can work together to enhance labor market information, promote skill development and retraining programs, and create more opportunities for meaningful employment that aligns with individuals' qualifications. By reducing underemployment, individuals can unlock their full potential, contribute to economic growth, and experience greater job satisfaction and fulfillment.
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ms/d/e/1FAIpQLScBc3LOV5pXKGJHOY319ko
4. Use the following to determine your monthly balance for a monthly net 5 poir
income of $2,100. Monthly Expenses of: Fixed $750; living $1,000; Annual
monthly $375*
Answers
Answer:
400
Explanation:
750+1000-2100=450
hah um idk what this for
Answers
Answer:
OMGGGGG r u new here??
if so i could help u with anythin :p
Explanation:
Consumers tend to purchase a good at a lower than at a higher price. Why (state any assumptions made)? Do consumers always behave this way? Explain your response.
Answers
According to the law of demand, the price of a good is negatively related to the quantity demanded all other things remaining equal.
Consumers do not always buy good at a lower price than at a higher price.
What is the law of demand?According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. there is an inverse relationship between price and quantity demanded.
Consumers do not always buy goods at a lower price than a higher price. For example, for luxury goods, consumers would prefer to buy it at a higher price than at a lower price. This is because luxury goods are used to show wealth. If the price of a good that is considered to be used solely be wealthy people declines, some rich people would not want to purchase the goods again because it is now affordable by the masses.
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Based on the details of the scenario, determine what will most likely occur. Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who then makes the pelts into hats to sell. A year into their contract, it becomes illegal to buy or sell beaver pelts in the U.S.
Answers
Answer: Contract is voided
Explanation:
From the question, we are informed that Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who will then makes the pelts into hats to sell.
We are further told that a year into their contract, it becomes illegal to buy or sell beaver pelts in the United States. Based on the scenario explained, the contact will be voided.
A void contract is referred to as a formal agreement that cannot be enforceable and is not legitimate. Since it is illegal to either purchase or sell beaver pelts, it means that the context cannot be carried out anymore and should the be void.
Choose a system to simulate for your semester project. This could be one of the ideas we developed in class, or something new (and you can still change it after this stage). Here are some guidelines to choosing a good simulation domain:
The system should include several kinds of components that interact with each other. There should also be some interaction with the human user of the program to direct the course of the simulation.
Some of the components should be variants of a basic category. For example, a traffic simulation could include several type of vehicles (cars, trucks, buses, emergency vehicles), which each behave in different though related ways.
Choose a domain where you already know enough details about how it works that you can imagine writing the required algorithms, at least in broad strokes. For example, don't choose to simulate planets orbiting a sun unless you already know how to do the required physics.
The notion of a simulation is broad enough to include most games (although some games are not complex enough to be interesting simulations). Another potential source of ideas is to simulate a business, such as a bank, a factory, or a store.
The expectations for the semester project will be based on the functional core of the simulation; you may choose to put additional effort into creating a fancy user interface or embellishing the level of detail of the simulation, but I will not penalize you for not doing so.
Write a few sentences describing your domain and the intended scope of the project.
PART 2: DEVELOP USE CASES
For this assignment, develop 3 use cases describing interaction between a user and the simulation. Follow these guidelines when developing your use cases:
Your use cases should include detail on each action taken by the user (ex. entering an address into a text field), any actions taken by the software (ex. executing a robot's move instruction), and any information relayed by the software to the user (ex. a prompt or a confirmation message).
Your use cases should describe different tasks with different goals for the user (and perhaps involve different kinds of user). Avoid writing simple variations of the same task.
Give each use case a concise name, and number each step.
Include one or more variations for each use case which outline how the user and the system interact to recover from an error.
Answers
Domain: Restaurant Simulation Scope of the Project: The restaurant simulation will model the operations of a restaurant, including customer interactions, menu management, order processing, and kitchen operations.
The simulation will allow the user to manage various aspects of the restaurant and make decisions to optimize efficiency, customer satisfaction, and profitability.
Use Case 1: Taking Customer Orders
User selects the "New Order" option from the main menu.
The system prompts the user to enter the table number or customer name for the order.
User enters the table number or customer name.
The system displays the menu options with corresponding prices.
User selects the desired items from the menu.
The system adds the selected items to the order and calculates the total cost.
User confirms the order.
The system generates a ticket and sends it to the kitchen for preparation.
Variation:
If the user enters an incorrect table number or customer name (error), the system displays an error message and allows the user to re-enter the information.
Use Case 2: Managing Inventory
User selects the "Inventory Management" option from the main menu.
The system displays the current inventory levels of ingredients and supplies.
User selects the option to restock a specific item.
The system prompts the user to enter the quantity of the item to be restocked.
User enters the quantity.
The system updates the inventory levels accordingly and displays the updated information.
Variation:
If the user enters an invalid quantity or the item is unavailable (error), the system displays an error message and allows the user to re-enter the information or select a different item.
Use Case 3: Analyzing Sales Performance
User selects the "Sales Analysis" option from the main menu.
The system retrieves sales data from the specified time period.
User selects the type of analysis (e.g., daily, weekly, monthly).
The system generates a report showing total sales, average order value, and popular menu items.
User views the report and can further analyze the data based on specific criteria (e.g., by menu category or customer demographics).
Variation:
If there is no sales data available for the specified time period (error), the system displays an error message and allows the user to select a different time period.
Note: These use cases provide a basic overview of the interactions between the user and the simulation in the context of a restaurant simulation. Depending on the specific requirements and features of the simulation, additional use cases can be developed to cover various scenarios and functionalities.
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When calculating the Annual Percentage Rate, it is important to consider?
Answers
Answer:
APR, or annual percentage rate, is your interest rate stated as a yearly rate. An APR for a loan can include fees you may be charged, like origination fees. APR is important because it can give you a good idea of how much you'll pay to take out a loan.
Explanation:
If someone was not intending on keeping a budget, what would you say to them to
convince them that they should?
REC
Answers
If someone is not keeping a budget, I would tell them that they would end up overspending money and may not have savings at the end of the day.
If someone was not intending on keeping a budget, what would you say to them to convince them that they should?Here are a few points that could convince someone to start keeping a budget:
Gain control of finances: Budgeting allows an individual to track their spending and better manage their money.
Avoid overspending: A budget can help prevent impulsive or unnecessary spending and ensure that money is being allocated towards important expenses.
Reach financial goals: Budgeting allows for setting and prioritizing financial goals, and tracking progress towards achieving them.
Reduce stress: By having a clear understanding of their financial situation, budgeting can reduce financial stress and provide peace of mind.
Make informed financial decisions: Budgeting provides a complete picture of an individual's financial situation, allowing for more informed and strategic financial decisions.
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i need help with Question B5 (a) short essay. im completely lost please help me :(
Answers
Mr. Coffey bought a house for $195,000. He made a 20% down payment. The interest
rate is 5.25% for 30 years. Use the loan payment calculator to answer the following
questions. (do not use commas or dollar signs in your answer)
What is his monthly payment?
Answers
Answer: $861.44
Explanation:
Given the following :
Purchase price = $195,000
down payment = 20%
Interest rate = 5.25%
Period = 30 years
Down payment = 0.2 × $195,000 = $39,000
Therefore, loan amount will be :
$(195,000 - 39,000) = $156,000
The payment per period (monthly payment) can be calculated using the annuity calculator.
Present value = $156,000
Number of periods = 30yrs = 30× 12 = 360 months
Interest = 5.25% / 12= 0.4375% = 0.004375
Future value = 0 (Amount when entire loan has been paid)
Therefore, the payment per period is $861.44 using the financial calculator.
What does it mean to live on "borrowed money"?
Answers
Answer:
Using money that you have borrowed from friends and family.
Explanation:
Arrange the following revenues in the federal government, from greatest to
least.
Drag each item to put them in the correct order.
(2 points)
= excise taxes
= Social Security and Medicare taxes
= corporate income taxes
= individual income taxes
= customs duties
= miscellaneous revenue
Answers
Social Security and Medicare taxes
Corporate income taxes
Excise taxes
Custom duties
miscellaneous revenue
hilton’s vp of talent & inclusion mentioned that the company participates in on-campus recruiting. this is an example of what type of recruiting?
Answers
Answer:
hiring from within
Explanation:
The company looks for internal candidates that exhibit leadership skills and qualities. This type of practice motivates employees and shows there is an opportunity for growth from within the company.
What courses or information would be helpful for a hospitality manager?
Answers
Answer:
Travel Attendants.
Lodging Managers.
Meeting, Convention, and Event Planners.
Food Service Managers.
Holiday Counselor.
Explanation:
Davis is planning to buy a bike. He has the full amount in his bank account. He does not want to pay any interest on his purchase. Which option(s) can Davis use when making the purchase
Answers
Answer:
C
Explanation:
a shift of the demand curve for thin-crust pizza would be caused by a change in: question 3 options: a) buyers' incomes. be) the price of thick-crust pizza. c) all answers are correct. d) the popularity of thin-crust pizza.
Answers
A shift of the demand curve for thin-crust pizza would be caused by a change in the popularity of thin-crust pizza. A demand curve shift refers to fundamental shifts in the supply-demand balance that affect the quantity sought at the same price.
For example, you might be willing to pay $1 price for ten apples. If the grocery store lowers the price to $0.75, the demand curve shift means you might buy 15 apples rather than 10. Changes in tastes, population, income, prices of substitute or complement items, and expectations about future circumstances and prices are all factors that can affect the demand curve for goods and services.
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What basic form of competition is most conducive to the use of the marketing mix?
Answers
Answer:
Monopolistic Competition
Explanation:
Monopolistic Competition is a market structure or form of competition in which there are many sellers, each producing a more or less differentiated product.
This last point is why the use of the marketing mix is key here: because the goods are not homogeneous (like in perfect competition), their prices, brands, packaging and promotion strategy are very important in order to attract a larger market share than the competing products.
The basic form of competition that is most conducive to the use of the marketing mix is Monopolistic competition .
Monopolistic competition can be regarded as a type of competition that is found in an industry where by many firms offer products/services that are similar.
We can conclude that monopolistic competition is good for marketing mix, and in monopolistic competition, there is a low barriers to entry and exit.
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We see the following yield curve for discount, or zero-coupon, bonds. Maturity Yield to Maturity 1 year 2 years 6% 7% 8% (a) If the fair price for a 4-year annuity paying $100 per year is $334.57, what is the yield to maturity on a four year zero-coupon bond? (b) Suppose that you wish to lock in a loan in year 2 to be repaid in year 3 (cash received in year 2 and interest plus principal returned in year 3). The amount of the loan is S20 Million. What pattern of discount bond holdings could you use to construct this loan now? That is, you will be buying and selling different bonds. How many bonds of what maturity will you buy? How many bonds of what maturity will you sell? (c) What is the implied forward rate between year 2 and year 3?
Answers
The implied forward rate between year 2 and year 3 is approximately 1.3%. (rounded to one decimal place)
(a) The fair price of a four-year annuity is $334.57, paying $100 per year. Let's figure out what the yield to maturity on a four-year zero-coupon bond is, given that the fair price is $334.57.
We use the following formula to calculate the present value of the four-year annuity:
PV = $100 * [1 - (1 + r)^-n] / r + $100 * (1 + r)^-n / r^2
where r is the yield to maturity and n is the number of years.
PV = $100 * [1 - (1 + r)^-n] / r + $100 * (1 + r)^-n / r^2$334.57 = $100 * [1 - (1 + r)^-4] / r + $100 * (1 + r)^-4 / r^2
The yield to maturity on a four-year zero-coupon bond is approximately 6.7%. (rounded to one decimal place)(b) We may use the following cash flow diagram to find the present value of the loan:
- S20M in year 2 and S20M(1 + r23) in year 3.
Buy bonds that mature in year 3 and sell bonds that mature in year 2 to match this pattern. To make the calculations easier, we can use the table from the question to get a sense of the bond yields at different maturities. We should consider the zero-coupon bonds that mature in year 2 and year 3. To obtain the cash flows we want, we'll need to create a portfolio that pays out S20M in year 2 and S20M(1 + r23) in year 3, then solve for the amount invested in each bond.Bonds to be bought:Bond with a face value of S20M that matures in year 3 (selling at a discount)Bonds to be sold:Bond with a face value of S20M that matures in year 2 (buying at a premium)The cash flow table for the bond that will be bought is as follows:- S20M is paid in year 3The cash flow table for the bond that will be sold is as follows:- S20M is received in year 2 plus S20M is paid in year 2(c) The implied forward rate is the interest rate at which a person can invest today and receive the investment's value in the future.
Let's figure out the implied forward rate between year 2 and year 3. We can use the following formula to calculate it:
1 + r23 = (1 + r22) (1 + f23)r22 = 7%
(given in the table)1 + r23 = (1 + 7%) (1 + f23)1 + f23 = (1 + r23) / (1 + r22)1 + f23 = (1 + 8%) / (1 + 7%)1 + f23 = 1.083 / 1.07
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(a) We can use the annuity formula to find the yield to maturity (YTM) on the four-year zero-coupon bond. The price of the annuity is equal to the present value of the payments, which is the sum of the present value of each payment.
Using a financial calculator, we get the present value of the annuity payments to be $334.57, which is the price of the bond. N= 4, PMT= 100, FV= 0, PV= -334.57, then solve for I/Y, which gives us a YTM of 8%. Therefore, the yield to maturity on a four-year zero-coupon bond is 8%.
(b) In this situation, we can use a portfolio of zero-coupon bonds to construct the loan. We need to buy enough bonds to provide us with $20 million in cash at the end of year 2, and then sell enough bonds at the end of year 2 to repay the loan plus interest at the end of year 3. To find the number of bonds to buy and sell, we need to first calculate the amount of cash we will receive at the end of year 2, which will be equal to the face value of the bonds we buy. Using a financial calculator, we get:
N= 2, I/Y= 7, FV= 100, PMT= 0,
then solve for PV, which gives us $86.51 as the price of the two-year bond. Therefore, we need to buy 231,481 of these bonds to get $20 million at the end of year 2.
To find the number of bonds to sell, we need to calculate the price of the bond that will provide us with $20 million at the end of year 3. Using a financial calculator, we get:
N= 3, I/Y= 8, FV= 20,000,000, PMT= 0, then solve for PV, which gives us $16,991,245.
Therefore, we need to sell $16,991,245/$100 = 169,912.45 of the three-year bond to repay the loan plus interest at the end of year 3.
(c) We can use the following formula to calculate the implied forward rate between year 2 and year 3:
F(2,3) = [(1 + r3)^3 / (1 + r2)^2] - 1
Where r2 and r3 are the yields to maturity on the two-year and three-year zero-coupon bonds, respectively.
Using the given yield curve, we get:
r2 = 7%r3 = 8%
Substituting these values into the formula, we get:
F(2,3) = [(1 + 0.08)^3 / (1 + 0.07)^2] - 1= 9.80%
Therefore, the implied forward rate between year 2 and year 3 is 9.80%.
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1. Do you believe E-sports will continue to grow in the future? Why or why not?
Answers
Answer: I don’t really know but I think it will still be popular and lots of people will still play no matter what
Answer:
In terms of video games, yes. Because, everyone can play videogames, but not everyone can compete in physical sports.
Explanation:
I don't need to give an explanation since it's my opinion. So don't report this answer please...
briefly describe the term factor market
Answers
Answer:
is a term economists use for all of the resources that businesses use to purchase, rent, or hire what they need in order to produce goods or services.
Explanation:
A person who is a good employee of a multinational company means that he is fit to be an entrepreneur. TRUE or FALSE
Answers
Which of the following is NOT a useful strategy when making an informed purchase?
1.Compare your option to similar products.
2.Calculate the unit price of the product.
3.Read the online reviews of the product and ask trusted friends who use it.
4.Purchase a product based on a social media influencer.
Answers
this would not be an informed purchase
if ireland took 20 years to double its real gdp per capita, what was its average annual gdp per capita growth rate during this period?
Answers
To determine the average annual GDP per capita growth rate of Ireland if it took 20 years to double its real GDP per capita, we can use the rule of 70. The rule of 70 is a formula used to determine the number of years it takes for a variable to double given a growth rate.
It can be calculated by dividing 70 by the growth rate expressed as a percentage.For Ireland to double its real GDP per capita in 20 years, we can divide 20 by 70 to get 0.29. This is the approximate percentage of annual growth rate necessary to double GDP per capita in 20 years. Therefore, the average annual GDP per capita growth rate during this period is approximately 0.29 x 100 = 29%. This means that the GDP per capita in Ireland grew at an average rate of 29% per year for the 20-year period.To verify our answer, we can use the compound interest formula: FV = PV (1 + r)nwhere FV is the future value, PV is the present value, r is the annual interest rate, and n is the number of years. We can rearrange the formula to solve for r: r = (FV/PV)^(1/n) - 1.For Ireland to double its real GDP per capita in 20 years, the future value is twice the present value (FV = 2PV), the number of years is 20 (n = 20), and the interest rate is what we're trying to find (r). Plugging these values into the formula gives:r = (2/1)^(1/20) - 1r = 0.029 = 2.9% (rounded to one decimal place)This confirms that the average annual GDP per capita growth rate during this period is approximately 29%, as calculated earlier.
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If you get 20% off of an item that is now $320, what was the original price before the discount?
Answers
select the financial statement that matches with the description (related transactions).
Answers
Additional Transactions Accounting Statements
A. Statement of Changes to Equity for Owner Claims to Resources
B. The company's financial performance and income statement profitability
C. The Cash Flow Statement's change in cash
D. Resources are equivalent to creditors' claims on those resources and owners' claims. Statement of Financial Position or the balance sheet
A statement of accounts is a record that lists every transaction that occurred between you and a specific customer over a specific time period. For sales that were made to consumers on credit during that time, business owners typically provide statements of accounts to them so they know how much they owe.
The balance sheet, income statement, cash flow statement, and statement of retained earnings are the four basic financial statement forms used by for-profit companies.
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Full Question = Select The Financial Statement That Matches With The Description (Related Transactions), Financial Statements Related
Attached With image
Consider jasper’s balance sheet. what is the total value of jasper’s assets? what is the total value of jasper’s liabilities?
Answers
The entirety of your cash, the things you've bought, plus the money your clients owe you make up your assets. The total amount of money you owe creditors is your liabilities.
The whole value of the assets you own less the total amount of liabilities you owe equals your owner's equity, net worth, or capital.
Total liabilities are computed as the total of current liabilities and non-current liabilities, such as wages and interest due (e.g., long-term debt).
The total of all current and long-term liabilities from the balance sheet is known as the book value of total liabilities ($). Sales ($) = Income (including other income) from the Income Statement.
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Answer:
assets: $15,800
liabilities: $4,400
Explanation: