Question 16 of 73 possible This question: 2 point(s) possible \( \$ 172,000 \). All purchases and sales were on account. There were no sales retums and Dawson had no inventory prior to this purchase. What amount of gross profit will Dawson Company report this month and on which statement should that statement be reported? A. \( \$ 28,000 \), Balance Sheet B. \( \$ 152,000 \), Income Statement C. \( \$ 28,000 \), Income Statement D. \( \$ 152,000 \), Belance Sheet

2. Which statements are wrong? A. Percentage taxes are basically on sales of services. B. Percentage taxes are not allowed by law to be shifted to the customers or clients. C. An isolated transaction not in the course of business will not result in a liability for a percentage tax. D. None of the above.

A car was valued at \( \$ 31,000 \) in the year 1995 . The value depreciated to \( \$ 11,000 \) by the year 2003. A) What was the annual rate of change between 1995 and 2003 ? \( r=\square \) Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2007 ? value \( =\$ \)

7. Mohammed borrowed N2500 at \( 4 \% \) p.a. com- pound interest. He repays N600 at the end of each year. Find out during which year the debt will finish.

QUESTION 8 A new cell phone was purchased for R 7 200. Determine the value of the cell-phone after 3 years if it depreciates at \( 25 \% \) per annum on Reducing Balance scale. \( A=P(1-i)^{n} \)

An amount of R 500 is invested at \( i \% \) per annum compound interest. After 6 years it has grown to \( \mathrm{R} 1126,10 \). Calculate the value of \( i \), round off to a whole number and give your answer as a percentage.