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Masja [62]
3 years ago
9

What is a real account?

Business
1 answer:
olga_2 [115]3 years ago
4 0

Answer:

A real account is an account that will not close at the end of the considered year. So apparently, balances in real accounts are carried over to become the the start of balances of the next year/period. Real accounts are also permanent accounts.

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Mr. Baxter IV, would like to retire in 26 years. He would like to accumulate $1,500,000 at the time of retirement to live a cont
Vinvika [58]

Answer:

Monthly deposit=  $840.74

Explanation:

Giving the following information:

Number of periods= 26*12= 312 months

Future Value= $1,500,000

Interste rate= 0.11/12= 0.0092

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,500,000*0.0092) / [(1.0092^312) - 1]

A= $840.74

6 0
3 years ago
King Company issued bonds with a face amount of $1,600,000 in 2015. As of January 1, 2020, the balance in Discount on Bonds Paya
zimovet [89]

Answer:

January 1, 2020

Bonds Payable                                          1600000 Dr

Loss on Redemption of bonds                 36800 Cr

     Discount on Bonds Payable                        4800 Cr

     Cash                                                              1632000 Cr

Explanation:

The redemption of bonds before the maturity usually requires a payment for redemption which is a certain percentage of its face value. It is usually higher than the face value. The above bonds are redeemed at 102 which means at 102% of the face value of the bonds. Thus, the cash paid to redeem the bonds is,

Cash = 1600000 * 102%  =  1632000

The bonds have a carrying value, which is the face value less discount or add premium, of,

Carrying value = 1600000 - 4800  =  $1595200

If they are redeemed for an amount in excess of the carrying value, they are redeemed at a loss.

The loss on redemption is,

Loss = 1595200 - 1632000 = $36800

5 0
3 years ago
ABC Lumber spent $1,000 cutting down a tree. The result was 40 unfinished logs that sell for $20 each and 100 bags of sawdust th
CaHeK987 [17]

Answer: below

Explanation:

- The sawdust should be sold as is without being processed into Presto

Logs.

- The pieces of unfinished lumber should be processed

8 0
3 years ago
Labor-augmenting (improving) technology causes which of the following? (i) The marginal productivity of labor increases. (ii) Th
OleMash [197]

Answer:

Answer to this is both option (i) and option (iii).

Explanation:

Change in technology generally affects the change in productivity as well as the change in labor demand. In the case of Labor-augmenting (improving) technology, it is found that the positive change in technology leads to the increasing marginal productivity of labor. This increase of marginal productivity of labor shifts the labor-demand curve towards right. Thus, Labor-augmenting (improving) technology causes marginal productivity of labor to increase which further leads to shifting of the labor-demand curve towards right.

5 0
3 years ago
Beaver Corporation reported taxable income of $500,000 from operations this year. During the year, the company made a distributi
loris [4]

Answer:

Beaver's total taxable income and federal income text paid as result of distribution is $500,000 and $105,000 respectively.

Explanation:

The computation of the taxable income and the federal income is shown below:

Taxable income = Taxable income + loss

                           = $500,000 + $0

                           = $500,000

Since the fair value is $20,000 is less than the mortgage on land i.e $25,000 so it would be a loss of $5,000 which would not be considered so we put the value zero.

And, the federal income equal to

= Taxable income × income tax rate

= $500,000 × 21%

= $105,000

4 0
3 years ago
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