Answer:
$51,608.69
Explanation:
Given that
Interest rate = 5%
Future value = $85,000
Time period = 10 years
So by considering the above information, the Present value is
= Future value ÷ (1 + interest rate)^time period
where,
Future value = $85,000
Interest rate = 5% ÷ 12 months = 0.4166%
Time period = 10 years × 12 months = 120 months
Now the present value is
= $85,000 ÷ (1 + 0.4166%)^120
= $51,608.69
Not sure the context of this question is there any additional info?
The income statement for the year ended April 30, 20Y7 is $391,000.
<h3>
Income statement</h3>
Up-in-the-Air Travel Service Income statement for the year ended April 30, 2017
Revenue:
Fees earned $1,870,000
Expenses:
Office expense $343,000
Miscellaneous expense $21,000
Wages expense $1,115,000
Total expenses $1,479,000
Net income $391,000
($1,870,000-$1,479,000)
Therefore the net income is $391,000.
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Answer:
The correct answer is C
Explanation:
The formula for computing the ending inventory through using the average cost is as:
Ending Inventory = Beginning Inventory + Purchases - COGS (Cost of goods sold)
where
Beginning inventory = Units × Price
= 10 × $50
= $500
Purchases = First Purchase + Second Purchase + Third Purchases
Purchases = Units × Price + Units × Price + Units × Price
Purchases = 17 × $52 + 27 × $53 + 19 × $55
Purchases = $884 + $1,431 + $1,045
Purchases = $3,360
COGS = Units × Price
COGS = 26 × Price
COGS = 26 × $53
COGS = $1,378
Price is computed as:
Price = $50 + $52 + $53 + $55 / 4
Price = $52.5
Putting the values above:
Ending Inventory = $500 + $3,360 - $1,378
Ending Inventory = $2,485
Explanation:
Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.
Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.
The copyright worth $6 million for five years is the only inviolable thing you can amortize.
The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.
