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FNSACC303-Perform Financial Calculation
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FNSACC303-Perform Financial Calculation
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Solved by qualified expert
Answer 2

Impact of inflation on the following products are
Basket of goods – 22*137/100 =30.14
    Motor vehicle 22500*137/131=235300.53
Bread1.50*137/125=1.644
House 495000*137/133= 509887.218

Answer 3

Formulae of Simple interest are
S.I – Principle *rate * time /100
1. First,convertingR present to r a decimal
r = R/100 = 7%/100 = 0.07 per year,
then, solving our equation

A = 10000(1 + (0.07 × 1)) = 10700
A = $ 10,700.00

Thetotalamount accrued, principal plus interest,
from simple interest on a principal of $ 10,000.00
at a rate of 7% per year
for 1 years is $ 10,700.00.
2. First, converting R present to r a decimal
r = R/100 = 6.75%/100 = 0.0675 per year,
then, solving our equation

A = 12410(1 + (0.0675 × 2.5)) = 14504.1875
A = $ 14,504.19

The total amount accrued, principal plus interest,
from simple interest on a principal of $ 12,410.00
at a rate of 6.75% per year
for 2.5 years is $ 14,504.19

Answer 4

The formulae for compound interest are
 

a.1157.625
b.3931.95

Answer 5

Mark-up is when a business produces or procures a good at one price and then sells the product for an advanced price. Having a good mark-up helps a company to earn good profits all over (bride, 2017)The mark up on the following are
1.$50(250*25 /125)
2. $ 2.41  ($9.30*35/135)
Note : We cannot consider it as cost price as its written with mark-up.

Answer 6

Straight line depreciation is a depreciation method where the asset is depreciated over the useful life minus any scrap value or residual value.
Equipment purchased $5000 , life 4 years  estimated scrap value- $ 600
5000-600/4-=1100 each year depreciation
2000-500/3= 500 each  year depreciation

The workplace tools where we can perform calculations are Microsoft excel, Finance software which actually depends on company to company, and Micros wizard.

Answer 7

The 3 places are the income tax sites, the other articles or journals relevant to that subjects, or the annual report.

Answer 8

The three mistakes that arise due to financial calculations are:
The purchase invoices are not In proper phase. For example every solitary acquisition statement that we put into the records should be chequered initially. We should  see that did we  really receive the properties or services billed? Is the statistics precise? If the prices that are charged are they correct? Any tax on the invoice are correctly shown or not, if it then are they matching with the returns and also to see if all the invoice add up.
The customer issue, numerous trades issue sales statements to their clienteles. Clienteles usually take one or two months to pay demands or invoices, and when it is paid they pay you for one or more invoices at once. we need to pay vigilant consideration to  payers that are late, for various reasons. It can indicate that the customers have become financially unstable or the customers have been disputing the invoices. Therefore proper customer accounts needs to be checked at intervals

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