Answer:
Correct answer is (C)
Explanation:
Budgeted profit vs. actual profit, return on investment, profit
Answer:
The money should be invested in bank = $137,639.05
Explanation:
Given annually withdrawal money (annuity ) = $12000
Number of years (n ) = 20 years
Interest rate = 6 percent.
Since a person withdraw money annually for next 20 years with 6 percent interest rate. Now we have to calculate the amount that have been invested in the account today. So below is the calculation for invested money.
![\text{Present value of annuity} = \frac{Annuity [1-(1 + r)^{-n}]}{rate} \\= \frac{12000 [1-(1 + 0.06)^{-20}]}{0.06} \\=12000 \times 11.46992122 \\=137,639.05](https://tex.z-dn.net/?f=%5Ctext%7BPresent%20value%20of%20annuity%7D%20%3D%20%5Cfrac%7BAnnuity%20%5B1-%281%20%2B%20r%29%5E%7B-n%7D%5D%7D%7Brate%7D%20%5C%5C%3D%20%5Cfrac%7B12000%20%5B1-%281%20%2B%200.06%29%5E%7B-20%7D%5D%7D%7B0.06%7D%20%5C%5C%3D12000%20%5Ctimes%2011.46992122%20%5C%5C%3D137%2C639.05)
Im not 100% sure but i think the answer is B
Answer:
$0
Explanation:
Alfred paid in premiums = $18,300
company paid Alfred = $125,000
Alfred died after 18 months, then,
Company collected the face amount of the policy = $150,000
Sale of policy = [ company compensation - premium paid]
= $125,000 - $18,300
= $106,700
In this situation, Alfred receives the submission price from the insurance company consequential in profit.
There is no gain in the income of the insurance policy that is purchased by the Alfred for the long term.
That's why he is not required to include the amount of sale of policy i.e. $106,700.
Hence, Alfred required to include in his gross income will be zero ($0).
Answer: See explanation
Explanation:
Based on the information given in the question, the corrected amounts for 2020 cost of goods sold would be:
= $1307500 + $36930 - $118630
= $1225800
The corrected Retained earnings would be:
= $5,383,000 - $36,930
= $5,346,070
