Answer:
The discount is for $86
It will be available until May 16th
Explanation:
the credit terms are 1/15, net 45
the first numebr is the discount amount, 1%
the second number is the days after billing this discount option is active, 15
net 45 means the customer can pay the nominal 8,600 within a 45 days period. After that it should renegociate the bill
The discount will be 8,600 x 1% = 8,600 x 0.01 = 86
It will be available up to 15 days after billing:
May 1st + 15 days = May 16th
Answer:
Deferred tax liability = $52,500
Explanation:
Difference between depreciation for financial reporting purposes and tax purposes at December 31 = 250,000
Enacted tax rate = 30%
Tax rate for future years = 40%
so Deferred tax liability = $250,000 x 40% = $100,000
Answer:
b) Has a higher expense ratio than an index fund
Explanation:
A mutual fund is a diversified investment tool. The fund is a collection of different types of stocks that form a single investment asset. It is a basket of stock trading as a single asset. Purchasing one unit of a mutual fund is equivalent to purchasing several portions of each stock that make up the mutual fund.
A professional manager manages the mutual fund. He or she carefully selects the stocks that go into the basket forming the mutual fund. The manager charges a professional fee, which is usually a percentage of the investment. Due to this fee, a mutual fund is relatively expensive as compared to an index fund that does not require the input of a manager.
Answer:
You plan to save $370 per month starting today for the next 46 years at an interest rate of 9.7% will be <u>$791046.3155</u>
Explanation:
Rate = 9.7% / 12 = 0.808333%
Number of periods = 30 * 12 = 360
Future value = ( 1 + r) * Monthly payments * [ ( 1 + r)n - 1] / r
Future value = ( 1 + 0.00808333) * 370 * [ ( 1 + 0.00808333)360 - 1] / 0.00808333
Future value = 1.00808333 * 370 * 2,120.819723
Future value = $791046.3155
Given:
Checking account balance: 3,100.55
Add: note collected 600
deduct:
NSF 60.50
service charge: 12.55 <u> (73.05)</u>
reconciled checkbook bal. 3,627.50
The deposit in transit for 400 was already included in the 3,100.55 balance. That is why it is not included in the reconciliation.
