Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long will it takes him to get his amount matured for OMR 30,800 if the interest is compounded quarterly.
Q: Grays Company has the following purchases and sales during the month of August. Using the FIFO…
A: Inventory valuation method includes: First in first out Last in first out Weighted average method…
Q: explain the advantages and limitations of budgetary control in detail
A: Budgetary control is the process of preparing budgets for the future time and comparing them to…
Q: Which of the following goods shall be included in the inventory account of an entity? A. All goods…
A: Inventory is one of the current asset of the business, which includes inventory of raw materials,…
Q: Pea Company purchased 70 percent of Split Company's stock approximately 20 years ago On December 31,…
A: Lets understand the basics. When inter company transaction happen then there is requirement to…
Q: Answer the following questions: 1) The president of the company has no confidence in the high-low…
A: High-low method: The high-low method considers only two data points, that is, the highest point and…
Q: Sales Net Beg Net Ending Sales returns Sales Inventory Purchases Inventory 1 5,000 80,000 24,000…
A: For solving this question, we need to use below formulas. Net sales = Sales - Sales return Cost of…
Q: Question 3: What is the current multifactor productivity?
A: Companies check the productivity level so that to determine what is the productivity of the company…
Q: If a company issues only one class of stock, what is this kind of stock called?
A: Outstanding shares are calculated by deducting the preferred stock from the issued shares of the…
Q: C. Shelton contributed land, inventory and $58,000 cash to a partnership. The land had a book value…
A:
Q: 2. On June 4, Marie Company had cash sales rung up by cashiers totaling $119,000Cash in the drawer…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A resident foreign Corp has the following data: Gross Sales in Phil is 9M; Cost of sales- Phil is…
A: A resident foreign corporation are foreign corporations that have a residential status in the…
Q: Kelley paint company uses the weighted average method to account for costs of production. Kelley…
A: Introduction: Process costing is a method for assigning costs of manufacturing to the units…
Q: Consider this problem for the next five questions: At Kahel Enterprises, a producer of orange crates…
A: Labor productivity means the per unit of the goods or service (output) produced for per unit of…
Q: 1. Using the following information, what is the amount of gross profit? Purchases $ 30,526 Selling…
A: The gross profit is calculated as difference between sales and cost of goods sold. It can be written…
Q: llocate the costs incurred by Mitzu to the appropriate columns and total each column.
A:
Q: A company is planning a new product. Market research information suggests that the product should…
A: Target costing is the one which estimates the cost of a good by deducting the profit margin from its…
Q: ind and Lucky formed a partnership by contributing cash amounting to P240,000 and P480,000…
A: Partnership : It is the relationship between two or more person who carried on business with the…
Q: The acquisition of a new machine with a purchase price of $80,545, transportation costs of $9,221,…
A: Asset is the resource owned by an entity which are held for generating future revenues.
Q: On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common…
A: Journal entry is a process of recording and classifying business transactions initially into books…
Q: V. On December 31, 2021. Ogallala Associates owned the following securities, held as a long-term…
A: Journal entries are used by the companies, firms, NPO, etc. to keep a record of the transactions…
Q: What is the function of accounting information systems in today's accounting practise
A: Accounting Information System (AIS) is a concept. Generally speaking, an accounting information…
Q: You were employed by ML Co. for 20 years and retired on 30 September 2020 at the age of 57. This…
A: Here discuss about the details of the assessable income which are deemed from the superannuation…
Q: Exercise 2. Adjusting entries for prepaid insurance The balance in the prepaid insurance account,…
A: Adjusting entries are journal entries usually made at the end of an accounting period to allocate…
Q: bry, January 1 47,660 ory, January 31 43,440 ed January 31, determine Aricanly's cost of anly…
A: On a cost of goods sold statement, the cost of products sold for an accounting period is documented…
Q: See the attached pic first before answering. On June 18, ABC Company paid the purchases on June 13…
A: Purchase discount is the allowance or reduction which is allowed on purchases of the business and…
Q: Q6 (a): A manufacturer has two departments; knitting and finishing. This question focuses on…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: 1. Cash balance according to the company's records at August 31, $25,520. 2. Cash balance according…
A: Introduction: BRS: BRS stands for Bank Reconciliation statement. To reconcile the differences…
Q: Mayan Company had net income of $32,980. The weighted-average common shares outstanding were 9,700.…
A: Earning per Share (EPS) refers to a company how much earning can able to generate towards its…
Q: What is a summary of the changes in each partner's capital in a partnership that have occurred…
A: The assets and liabilities of partnership are presented in Balance sheet. The income and expenses…
Q: For a partnership, assume for a certain time period, the Income Statement has Sales of $100,000,…
A: Net income: It implies to the earnings that is left with a business after subtracting or deducting…
Q: Complete the following data taken from the condensed income statements for merchandising Companies…
A: 1. Sales = Gross profit + Cost of goods sold 2. Operating expenses = Gross profit - Net income 3.…
Q: Melissa recently paid $640 for round-trip airfare to San Francisco to attend a business conference…
A: Given: - Registration for conference = $590 Miles drove = 107 miles Parking fees = $181
Q: the income statement is 15% higher than net income for 2020 for the same company. Can an interested…
A: Operating performance is defined as comparing results to the assets that were employed to achieve…
Q: A bond sells at a discount when the: Multiple Choice Bond has a short-term life. Contract rate is…
A: A bond can be sold at premium, discount or at par.
Q: What type of opinion is issued by the auditorr if he or she is unable to determine the overall…
A: Introduction: Auditing is the process of checking, validating, and investigating all financial…
Q: Stuart Company incurs annual fixed costs of $120,250. Variable costs for Stuart's product are $23.45…
A: Introduction:- Break-even point point means, where no profit or loss At Break-even point point,…
Q: A, B, and C are partners who each donated P6,000.00, P4,000, and P4,000, respectively, and…
A: The Accounting Information System (AIS) provides data that is needed for decision-making. It…
Q: Bikes Ltd. offers customers a loyalty card whereby customers receive a stamp every time they have…
A: IFRS 15 : Customer Loyalty Program takes into effect the discount given in the option, the discount…
Q: Required information Problem 9-7B Calculate the issue price of a bond and prepare amortization…
A: Given: - Face value of bond= $720,000 Semiannual coupon: - $720,000×6%2=$21,600 Semiannual market…
Q: Great shore manufactures 2 products namely soft clean and hard clean. The costs and revenues are as…
A: Contribution margin per hour: =[Selling price - variable cost] / Machine hours per unit Selling…
Q: The interest on a 6%, 60-day note for $5,000 is $300. O True O False
A: Interest = Note value × Interest rate ×60/360
Q: The balance in the supplies account, before adjustment at the end of the year is P1,475. Journalize…
A: Adjusting entries are those which are recorded at the end of the year in order to adjust the…
Q: Prepare cash budget for July and August month with opening cash for July is 4,200 & utility bills of…
A: Cash budget is one form of budget where it was used to plan for disbursements & receipts of cash…
Q: 2. A chemical plant needs a generating set. After evaluating several offers, the choice was narrowed…
A: Straight line method depreciation = (cost of asset - salvage value) / useful life of an asset 1.…
Q: This is an extremely simple human capital accumulation problem. Let ht denote human capital of…
A: Long run growth- The country's long-run real economic growth is nothing more than a sustained…
Q: Your grandfather placed $5,000 in a trust fund for you. In 12 years what will be the worth of the…
A: Compound interest is a method of calculating interest where the calculation considering to add the…
Q: A company manufactures a single product. Budget and standard costs details for the next year…
A: Lets understand the basics. Break even point is a point a which no profit no loss condition arise.…
Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…
A: Common Stock - Common Stock is the stock issued to the public for raising capital. This recorded in…
Q: Required information [The following information applies to the questions displayed below.] Russell…
A: Sale value of asset means value for which asset is being sold out. Basis in asset means adjusted…
Step by step
Solved in 2 steps
- Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?Liam loaned an amount of 15,581 and he will pay it with an amount of 25,501 after 9 years. What is the agreed interest rate between Liam and the bank compounded annually in percent?Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is the effective annual interest rate Determine the value of his account at the end of two years.
- Jerome borrowed 5200 at 8 1/2% for six years compounded semi annually. What is the future value of the loan and how much interest will he pay on the loanPedro, who deposited P500,000.00 today with a financial Institution M, agreed with the latter that Pedro’s money shall earn monthly compounded interest. If the prevailing interest rate of the Institution M is 8 % compounded yearly, how much will the value of his deposit be after 14 months?Freddy agreed to make quarterly payments of $781.25 for 4 years on a loan of $10,000. What simple interest rate is he paying?
- In the situation where Ahmad are depositing $1,000 per month in a savings account that pays 6 percent interest per year compounded quarterly. Here payment period is greater than compounding period. Select one: O True O FalseMr. Ghani wants to deposit his savings of Rs. 50,000 in a bank which offers 8% interest (compounded semi-annually) to withdraw Rs. 2,500 at the end of each six months from the date of deposit. How many withdrawals will he be able to make before the entire amount is exhausted?Suat opens a deposit account in a bank by depositing 10,000 TL. In addition, he will deposit 6,000 TL into the account one year later and 4,000 TL the following year. The deposit account is valued at the annual fixed effective interest rate %. Calculate the interest rate, i, if the value of the money in Suat's account is 22,000 TL at the time that Suat deposits 4,000 TL.
- Tika has $10 000 that he can deposit into a savings account for 5 years. ANZ pays compounds interest annually, Bankwest twice a year, and Bendigo quarterly. Each bank has a stated interest rate of 6 percent. What amount would Tika have at the end of the fifth year if he left all the interest paid on the deposit in each bank?Prisha received a loan of $8,100 at 5.25% compounded monthly. He settled the loan by making periodic payments at the end of every three months for 6 years, with the first payment made 3 years and 3 months from now. What was the size of the periodic payments? $ 0.00 Round to the nearest centAppa deposits $2500 in an account earning 4.9% interest compounded monthly. How much will Appa have in the account in 1 year? $ Bash deposits $2500 in an account earning 4.9% interest compounded daily. How much will Bash have in the account in 1 year? How much more does Bash make than Appa? (to the nearest cent)