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9966 [12]
1 year ago
11

The present value of $100 paid annually at year end for 20 years at 10% per year is:________.

Business
1 answer:
Gre4nikov [31]1 year ago
3 0

$851.36 will be the present value of money for $100 after 20 years. The concept of present value states that an amount of money today is worth more than the same amount in the future. We can say that the value of money today won't be same after 10 years.

Money that is not spent today may be expected to lose value in the future at some implied annual rate, which may be inflation or the rate of return on investment. The present value formula reduces the future value to today's dollars by taking into account either the implied annual rate of inflation or the rate of return that could be obtained if a sum was invested.

To learn more about present value, click here

brainly.com/question/14860893

#SPJ4

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A(n) ________ bank is an institution, such as Credit Suisse First Boston, that acts as an underwriter or agent for a firm engage
Orlov [11]

Answer:

Public bank

Explanation:

A public bank is a bank, or a financial institution where a state, municipality would be the owners also it is an entrerprise that are controlled by the government

So as per the given situation the given boston would be acted as an underwriter and engaged in the initial public offering so this represent the public bank

hence, the same would be relevant

8 0
3 years ago
Which of the following is an example of a non-profit organization?
Anna007 [38]

Answer: Salvation army

Explanation: Non profit organisations are those organisation, which perform their operation with the objective of social welfare or charity.

Salvation army is a charitable organisation having more than 1.7 million members all over the world, whom they refer to as soldiers. This organisation mainly serves to the poor and hungry.

Thus, we can conclude that the right option is D.

8 0
3 years ago
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:
strojnjashka [21]

Answer:

Dynamite Fireworks

1. January 2

Debit Prepaid Rent $7,500

Credit Cash $7,500

To record the purchase of rental space in advance ($625/month).

2. January 9

Debit Supplies $4,000

Credit Accounts Payable $4,000

To record the purchase of additional supplies on account.

3. January 13

Debit Accounts Receivable $26,000

Credit Service Revenue $26,000

To record the provision of services to customers on account.

4. January 17

Debit Cash $4,200

Credit Deferred Revenue $4,200

To record the receipt of cash in advance for future services.

5. January 20

Debit Salaries Expense $12,000

Credit Cash $12,000

To record the payment of salaries.

6. January 22

Debit Cash $24,600

Credit Accounts Receivable, $24,600

To record the receipt of cash on account.

7. January 29

Debit Accounts Payable, $4,500

Credit Cash $4,500

To record the payment on account.

Adjustments on January 31.

8. Debit Rent Expense $625

Credit Prepaid Rent $625

To record the rent expense for January.

9. Debit Supplies Expense $4,300

Credit Supplies $4,300

To record the supplies expense for January.

10. Debit Deferred Revenue $3,575

Credit Service Revenue $3,575

To record revenue for services provided.

11. Debit Salaries Expense $5,450

Credit Salaries Payable $5,450

To accrue unpaid salaries at the end of January.

12. Debit Service Revenue $29,575

Credit Income Summary $29,575

To close the revenue account to the income summary.

13. Debit Income Summary $22,375

Credit:

Salaries Expense $17,450

Rent Expense $625

Supplies Expense $4,300

To close the expense accounts to the income summary.

Explanation:

a) Data and Calculations:

Accounts Debit Credit

Cash                      $ 24,300

Accounts Receivable 5,700

Supplies                     3,600

Land                        55,000

Accounts Payable                $ 3,700

Common Stock                     70,000

Retained Earnings                 14,900

Totals                  $ 88,600 $88,600

Transactions and Analysis:

January 2 Prepaid Rent $7,500 Cash $7,500 ($625/month).

January 9 Supplies $4,000 Accounts Payable $4,000

January 13 Accounts Receivable $26,000 Service Revenue $26,000

January 17 Cash $4,200 Deferred Revenue $4,200

January 20 Salaries Expense $12,000 Cash $12,000

January 22 Cash $24,600 Accounts Receivable, $24,600

January 29 Accounts Payable, $4,500 Cash $4,500

Adjustments on January 31.

Rent Expense $625 Prepaid Rent $625

Supplies Expense $4,300 Supplies $4,300

Deferred Revenue $3,575 Sales Revenue $3,575

Salaries Expense $5,450 Salaries Payable $5,450

6 0
2 years ago
Under GASB standards, financial information useful for assessing operational accountability is primarily reported in which finan
ANEK [815]

Answer: b. Yes; No

Explanation:

The Government Accounting Standards Board (GASB) is simply a non-governmental organization which is private that helps in the creation of accounting reporting standards, for both states in the United States and the local governments.

Under GASB standards, financial information useful for assessing operational accountability is primarily reported in the Government wide financial statements and not the Fund Financial statements.

7 0
3 years ago
Mary, a student at a community college in New York, is in the United States on a student visa that allows her to remain in the U
aliina [53]

Answer:

It will be difficult for Mary to compare the crime rates in a U.S. city with her hometown of London, England:

b. There are differences in the way crime is measured.

Explanation:

  • The option a is not correct as it is not true that England doesn't have any crime statistics that are available to civilians.
  • The option b is correct as the ways of measuring crimes are different for different regions or places.
  • The option c is not correct as there is no dictatorship in England.
  • The option d is not correct as it is not true that only solved cases are included in England's crime rates.
3 0
3 years ago
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