All categories

2 years ago

When Marilyn Monroe died, ex-husband Joe DiMaggio vowed to place fresh flowers on her grave every

1 answer:

4 0

Based on the cost of the flowers and the number of years Joe DiMaggio was expected to live, the present value of the commitment was $2,389.26.

<h3>How much is the present value of the commitment?</h3>

First convert the interest and period to weekly figures:

Period:

= 52 x 30

= 1,560 weeks

Interest:

= 10.4% / 52

= 0.2% weekly

The present value will be that of an annuity because the amount is constant every week:

= Amount x (1 - (1 + rate) ^ -number of periods) / rate

= 5 x (1 - ( 1 + 0.2%) ⁻¹⁵⁶⁰) / 0.2%

= $2,389.26

Find out more on present value at brainly.com/question/25792915.

#SPJ1

You might be interested in

Exercise 16-05 a-b (Video) In Waterway Company, materials are entered at the beginning of each process. Work in process inventor

____ [38]

Answer:

(a) Total units for January = 14,200

Total units for May = 23,260

(b). Conversion cost for :

January = 13,053

March = 13,660

May = 21,688

July = 11,212

Explanation:

As per the data given in the question,

Jan. May

Units to be accounted for

Beginning WIP 0 0

Started into production 14,200 23,260

Total number units 14,200 23,260

Units accounted for

Transferred out 11,100 15,400

Ending WIP 3,100 7,860

Total units 14200 15400

We can calculate the conversion cost by using following formula:

Conversion cost = Transferred out unit + (Work in process unit × conversion cost)

Material Conversion cost

Jan. 14,200 13,053 (11,100 + 3,100 × 63%)

Mar. 15,700 13,660 (12,300 + 3,400 × 40%)

May 23,260 21,688 (15,400 + 7,860 × 80%)

July 12,400 11,212 (10,200 + 2,200 × 46%)

7 0

3 years ago

At the beginning of the period, a company reports a balance in office supplies of $450. During the period, the company purchases

Hoochie [10]

Answer:

Explanation:

Before passing the journal entry, first, we have to compute the total supplies consumed. The formula to compute the total supplies consumed is shown below:

= Beginning balance of supplies + Purchase of supplies - ending balance if supplies

= $450+ $3,400 - $900

= $2,950

Now the journal entry would be

Supplies expense A/c Dr $2,950

To Supplies A/c $2,950

(Being supplies consumed recorded)

4 0

3 years ago

What is total amount spent on wages and salary before any tax is being taken? [those ernings above £40000 are paying 40% income

vodka [1.7K]

Answer: hello your question is open ended hence I will give you a more general answer

answer : $12,000 * number of workers or $24,000 * number of workers

Explanation:

Income taxes are taxes been levied directly on the income earned by the tax payer.

According to Tax rules there is a certain amount of income an individual would have to earned before any tax will be taken, incomes below $12,000 are tax free ( for singles ) and $24,000 for married individuals ; Hence the Total amount spent on wages and salary before tax is being taken = $12,000 * number of workers or $24,000 * number of workers . ( unless otherwise stated )

3 0

3 years ago

Profit = -5 x2^1 + 38X1 - 5X2^2 +44 X2 +520

cestrela7 [59]

Answer:

Explanation:

Attached is the solution

7 0

3 years ago

GoCarts Systems pays $3,500 cash for next year's publication subscription which is known as a(n) _________. During the same week

Lyrx [107]

Answer:

Deferral

Accrual

Explanation:

A deferral occurs when a company has paid out money that should be reported as an expense in a later accounting period, and/or received money that should be reported as revenue in a later accounting period while an Accrual pertains to expenses that should be reported now, but have not yet been recorded or paid, and revenues that should be reported now, but have not yet been recorded nor has the money been received.

6 0

3 years ago