Assignment Week 1 Problem Set 1 1. Ben Collins plans to buy a house for $65‚000. If that real estate property is expected to increase in value 5 percent each year‚ what would its approximate value be seven years from now? $65‚000 X 1.407 = $91‚455 2. At an annual interest rate of five percent‚ how long would it take for your savings to double? It would take approximately 14.4 years or 72 months divided by 5. 3. In the mid-1990s‚ selected automobiles had an average
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Lecture Workshop QUESTION 1 (PART A) CoinRich Ltd. manufactures plastic toy coins‚ targeting board-game companies. Their toy coins are known for the delicate resemblance to real coins. Required: In each of the following cases‚ (a) calculate the year-end liability and any associated expenses for the year (if any)‚ and (b) journalise the transaction. (1) CoinRich Ltd. issued 1000‚ $100 bonds but found that the bond interest rate was lower than market rates‚ and so received $98 cash for each
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Summary of FRS 37: Provisions‚ Contingent Liabilities and Contingent Assets The Standard This standard distinguishes between provisions and contingent liabilities. A provision is included in the statement of financial position at the best estimate of the expenditure required to settle the obligation at the end of the reporting period. A contingent liability is not recognised in the statement of financial position. However‚ unless the possibility of an outflow of economic resources is
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The accounting equation is‚ Assets are equal to Liabilities plus Stockholders’ Equity. Assets are resources owned by a business. Liabilities are the debts and obligations of the business. Liabilities represent claims of creditors on the assets of a business. Stockholders’ equity represents the claims of owners on the assets of the business. This equity is divided into two parts: common stock and retained earnings. The balance sheet reports assets and claims to assets at one specific point in time
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The reason why the Drake Equation is not a successful science is because it would be impossible to calculate some of the elements in the equation. The elements would take too long to get an accurate sample to give a scientifically sound explanation. For instance how would you calculate fi (the fraction of intelligent life forms)‚ how do you define intelligent? Is intelligent like you and I‚ is it like a bird or a rat‚ could it be a plant? There is no way to truly determine what counts and doesn’t
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The Drake Equation is used to estimate the number of civilizations in the universe. It is more of a tool to use and help us understand and figure out how many worlds are out there. Each of the terms are being multiply to get the outcome for N‚ which is the number of civilizations in The Milky Way Galaxy whose electromagnetice missions are detectable. According to SETI website‚ the Drake Equation values R*‚fp‚ ne‚ fl‚ fi‚ fc‚ L are defined as the following. In the first part of the equation is R*.
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Will there be one set of accounting standards in use throughout the world in the next five years? Accounting around the world has become a huge focus in recent years due to the diversity of methods used in accounting and the difficulty of comparing US based firms and international firms. In the United States the guidelines that govern accounting are US Generally Accepted Accounting Principles or GAAP. Recently the Securities Exchange Commission or SEC has begun the process of switching to the International
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Mark Scheme (Results) Summer 2012 IGCSE Accounting (4AC0) Paper 01 Edexcel and BTEC Qualifications Edexcel and BTEC qualifications come from Pearson‚ the world’s leading learning company. We provide a wide range of qualifications including academic‚ vocational‚ occupational and specific programmes for employers. For further information‚ please visit our website at www.edexcel.com. Our website subject pages hold useful resources‚ support material and live feeds from our subject advisors giving
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MATHEMATICAL METHODS PARTIAL DIFFERENTIAL EQUATIONS I YEAR B.Tech By Mr. Y. Prabhaker Reddy Asst. Professor of Mathematics Guru Nanak Engineering College Ibrahimpatnam‚ Hyderabad. SYLLABUS OF MATHEMATICAL METHODS (as per JNTU Hyderabad) Name of the Unit Unit-I Solution of Linear systems Unit-II Eigen values and Eigen vectors Name of the Topic Matrices and Linear system of equations: Elementary row transformations – Rank – Echelon form‚ Normal form – Solution of Linear Systems
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2014/9/16 Linear Equations Ad Options Ads by Vidx Linear Equations A linear equation is an equation for a straight line These are all linear equations: y = 2x+1 5x = 6+3y y/2 = 3 x Let us look more closely at one example: Example: y = 2x+1 is a linear equation: The graph of y = 2x+1 is a straight line When x increases‚ y increases twice as fast‚ hence 2x When x is 0‚ y is already 1. Hence +1 is also needed So: y = 2x + 1 Here are some example values: http://www.mathsisfun.com/algebra/linear-equations
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