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3 years ago

7

He wishes to invest $21,000 in an annuity that will make a level payment at the end of each year until his death. if the interes

t rate is 8.5%, what income can mr. basset expect to receive each year?

1 answer:

notsponge [240]3 years ago

8 0

#justiceforbarb #StrangerThings #timesup #callmemills

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A factory machine was purchased for $393000 on January 1, 2018. It was estimated that it would have a $74000 salvage value at th

sweet [91]

Answer:

Annual depreciation= $41,470

Explanation:

Giving the following information:

Purchasing price= $393,000

Salvage value= $74,000

The machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.

To calculate the depreciation expense using the units of activity method, we need to use the following formula on each year:

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= [(393,000 - 74,000)/30,000]*3,900

Annual depreciation= $41,470

5 0

4 years ago

Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the

madam [21]

The inventory ledger contains the data regarding the amount of each type of merchandise a company has. To add up, the inventory ledger is the record in which its main function is to "track inventory transactions." It is important that the contents of the inventory ledger should coincide with the general ledger.

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3 years ago

While setting up their corporation, ming and jie implement a system of governing their organization so that the interests of cor

Dmitriy789 [7]

Corporate government <span />

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3 years ago

The following data were accumulated for use in reconciling the bank account of Wolfpack Bread Inc. for August 20Y9:

Marizza181 [45]

Answer:

Adjusted bank account balance = Adjusted cash book balance = $34,500

Explanation:

Note: The correct requirement of this question is actually as follows:

Prepare a bank reconciliation.

It is not the ones erroneously stated in the question.

The bank reconciliation can now be prepared as follows:

Wolfpack Bread Inc.

Bank Reconciliation

August 31, 20Y9

Statement of Adjusted Bank Account Balance

<u>Details Amount ($) </u>

Cash balance according to bank statement 33,580

Add:

Deposit in transit, not recorded by bank 14,260

Less:

Checks outstanding <u> (13,340) </u>

Adjusted bank account balance <u> 34,500 </u>

Statement of Adjusted Cash Book Balance

<u>Details Amount ($) </u>

Cash balance according to Wolfpack 34,437

Add:

Check error ($762 - $276) 486

Less:

Bank service charges (144)

Other reconciling items (w.1) <u> (279) </u>

Adjusted cash book balance <u> 34,500 </u>

<u>Working:</u>

w.1: Other reconciling items = Cash balance according to Wolfpack + Check error ($762 - $276) - Bank service charges - Adjusted bank account balance = $34,437 + 486 - 144 - $34,500 = $279

7 0

3 years ago

The balance sheet of a corporation reports ______. only the debts of the business and its owners only the results of the busines

grandymaker [24]

Answer:

only the results of the business' activities

Explanation:

balance sheet is among the three main financial statements prepared by a corporation. It reports the financial positions of the business by showing the value of assets, liabilities, and the shareholder's equity at any point in time. Therefore, a balance sheet shows the net worth of the corporation.

The preparation of the balance sheet follows the accounting equation of assets equals liabilities plus shareholder equity. On one side, the balance sheet reports the assets and liabilities and equity on the other. In other words, the balance sheets indicate how the assets of a business are financed. It does not report on the personal activities of business owners.

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3 years ago