Answer:
The balance in the account = $851.8
Explanation:
The future value of a lump sum is the amount expected at a future date when a sum of money is invested today at a particular rate of interest for certain number of years
.
This implies compounding the initial amount invested ($300) at the given interest rate(11%) for 10 years.This will be done as follows:
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FV = PV × (1+r)^(n)
FV-Future value
r- rate of return per period
n- Number of period
PV - 300
r-11%
DATA
FV- ?
PV - 300
n- 10
FV= 300 × 1.11^10 = 851.83
The balance in the account = $851.8
Answer:
It is true
Explanation:
Chartered Accountants most especially external auditors are trained to provide assurance services that will give credit and reliability to the financial information being presented to the users by the directors.
Their services include statutory audit and other related assurance services.
The report produced by a Chartered Accountant (e.g External Auditor) gives reasonable assurance to the shareholders of the company or any other external users.
Answer: B - $7,150
Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.
Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.
According to the above question, Phil earns $7,000 as wages plus $150 in interest income.
From the above information, Phil has a standard tax of $7,150.
Answer:
Jacobsen Corporation
Income from continuing operations of $621,000 will be reported.
Explanation:
The income from continuing operations is the same thing as the operating income. It is the pre-tax income that is reported on Jacobsen Corporation's income statement for the year ended December 31, 2016. The tax rate of 30% is applied on this figure to obtain the income tax expense for the year. But, for Jacobsen that has other unusual items, these are taken into consideration before the income tax is imputed to obtain the after-tax income.
A rental inventory is basically like people rent you things. Cars, and lots of stuff. its a good idea to have a rental inventory because you can rent people things in a business.
