1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kykrilka [37]
3 years ago
10

Bill wants to give Maria a $500,000 gift in seven years. If money is worth 6% compounded semiannually, what is Maria's gift wort

h today
Business
1 answer:
faltersainse [42]3 years ago
3 0

Answer:

PV= $332,528.56

Explanation:

Giving the following information:

Future value= $500,000

Number of periods= 7 years

Discount rate= 6% compounded annually

<u>To calculate the present value, we need to use the following formula:</u>

<u></u>

PV= FV/(1+i)^n

PV=  500,000 / (1.06^7)

PV= $332,528.56

You might be interested in
A fee collected by a real estate agent upon the sale of a property is
vladimir2022 [97]
Real estate commission fee
3 0
3 years ago
A company is usually unable to take advantage of economies of scale during the __________ stage of the product life cycle.
AfilCa [17]

The Correct Answer Is C.

Growth

5 0
3 years ago
Read 2 more answers
Which of the following is the most appropriate topic to address in a college application essay?
Aleksandr [31]

Answer:

C

Explanation:

because I feel that many individuals would select the most basic option, such as A or B.

5 0
3 years ago
River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on
PtichkaEL [24]

Answer:

The ending balance of work-in-process inventory is $64,000

Explanation:

Opening Raw Material = $34,000

Opening WIP Inventory = $70,000

Opening Finished Goods Inventory = $55,000

Raw material purchased = $148,000

Raw materials requisitioned = $88,000

Closing Raw Material = Opening + Purchase - Requisitioned

= $34,000 + $148,000 - $88,000 = $94,000

Closing Finished Goods Inventory = Opening + Cost of goods produced - Cost of goods sold

= $55,000 + $299,000 - $250,000 = $104,000

Expense total incurred on goods entered for production = Material requisitioned + Labor cost incurred + Factory overhead

= $88,000 + $127,000 + $148,000 = $363,000

Out of which cost of completed goods = $299,000

Thus remaining is work in process = $363,000 - $299,000 = $64,000

That is Closing WIP Inventory = $64,000

Note: It is obvious that the expense of labor and overheads incurred in this period includes expense incurred to convert opening WIP in to finished goods and the balance is closing WIP.

The ending balance of work-in-process inventory is $64,000

5 0
3 years ago
After the accounts were adjusted at January 31, 2010, the end of the fiscal year, the following balances were taken from the led
Deffense [45]

Answer:

fees earned 116,400 debit

       income summary         116,400 credit

--to close revenues account--

Income summary   81,050 debit

Wages Expense               29,000 credit

Rent Expense                   43,000 credit

Supplies Expense               7,300 credit

Miscellaneous Expense      1,750 credit

-- to close expenses accounts--

Income summary   5,000 debit

        Dividends              5,000 credit

-- to close dividends accounts--

Income summary   30,350 debit

        Dividends              30,500 credit

-- to close income summary account--

Explanation:

  • on accounting we close the temporary accounts which are:
  • revenues
  • expenses
  • dividends

To do so, we will use an auxiliary account called income summary.

Once we close this we calculate the blaance of income summary using a T-account:

income summary

<u>debit        credit  </u>

81,050   116,400

 5,000

Balance: 30.350‬

<u />

And close it as well against retained earnings

6 0
3 years ago
Other questions:
  • Misty, Ibtihaj, and Taraji, all African Americans, work in the advertising department of a large cosmetics company with a multi-
    12·1 answer
  • Question Number 9 At the end of the day, a local bakery sold 83 cakes and had to throw out 7 cakes due to baking errors. Each ca
    14·1 answer
  • You are considering investing in a no-load mutual fund with an annual expense ratio of .6% and an annual 12b-1 fee of .75%. You
    6·2 answers
  • This program will store roster and rating information for a soccer team. coaches rate players during tryouts to ensure a balance
    9·1 answer
  • Timothy is planning the pricing strategy for his company’s products. He is directed by the management to add a premium (amount a
    12·1 answer
  • Stellan Manufacturing is considering the following two investment​ proposals: Proposal X Proposal Y Investment $ 720 comma 000 $
    8·1 answer
  • . Define corporate-level strategy. What are the different levels of diversification firms
    14·1 answer
  • Hinkle Corporation buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after
    15·1 answer
  • An economy produces only apples and oranges. The base year is 2012, and the table gives the quantities produced and the prices
    5·1 answer
  • Why is it important to reach customers on their mobiles when advertising locally?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!