Question

A cash register is worth 620$, 100 cash registers are worth 62000.

The cost per cash register increases by a rate of 7% continuously compounded. How much would one NEW cash register cost in 10 years’ time?

The value per cash register decreases at a rate of 7% each year. How much will one OLD cash register be worth in 10 years’ time?

Answer 1

The following selected transactions relate to cash collections for a firm that uses a cash register. Present entries to record the transactions for each of the two days of cash receipts from sales.

a. Actual cash in cash register, $5,353; cash receipts per cash register tally, $5,373 on December 31.

b. Actual cash in cash register, $3,712.95; cash receipts per cash register tally, $3,712.16.