Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

If Lindsey wants to save 10\% of the home value as a down payment for a house priced at \$250,000, how much money does she need to save?

$25,000

$10,000

$2,500

$20,000

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Verified step by step guidance

Step 1: Understand the problem. Lindsey wants to save 10% of the home's value as a down payment. The home's price is $250,000, and we need to calculate 10% of this amount.

Step 2: Recall the formula for calculating a percentage: $ \text{Percentage Amount} = \text{Total Value} \times \frac{\text{Percentage}}{100} $.

Step 3: Substitute the given values into the formula. Here, $ \text{Total Value} = 250,000 $ and $ \text{Percentage} = 10 $. The formula becomes $ \text{Percentage Amount} = 250,000 \times \frac{10}{100} $.

Step 4: Simplify the fraction $ \frac{10}{100} $ to $ 0.1 $, and rewrite the formula as $ \text{Percentage Amount} = 250,000 \times 0.1 $.

Step 5: Multiply $ 250,000 $ by $ 0.1 $ to find the amount Lindsey needs to save. This will give the final result.