Answer:
the amount that she have to donate is $166,666.70
Explanation:
The computation of the amount that she have to donate is shown below:
Donation amount is
= Annual scholarship ÷ (interest rate - inflation rate)
= $2,500 ÷ (5.5% - 4.0%)
= $2,500 ÷ 1.5%
= $166,666.70
hence, the amount that she have to donate is $166,666.70
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
19 years
Explanation:
the 19th year your money will triple and be worth 3.0256 times the original sum.
A(n) (transection) model is an outsourcing fee model that charges a variable fee based on the volume of transactions or operations performed by the application.(transection
Answer:
See explanation section
Explanation:
Requirement A
Insto Photo Company
Journal Entries
Date Accounts Name Debit Credit
December 1, 2016 Inventory $25,000
Notes payable $25,000
<em>Note</em>: As the merchandise company issued a note for the credit purchase of merchandise inventory, notes payable is used instead of accounts payable.
Dec. 31, 2016 Interest expense $250
Interest payable $250
<em>Note: </em>Adjusting entry is needed as the fiscal year is ended on 31st December, therefore, there will be an accrued interest expense to be paid for one month. The calculation of interest expense = $25,000 × 12% × (30 ÷ 360) [assuming 1 year = 360 days, 1 month = 30 days]. = $250 for one month's accrual.
Requirement B
March 31, 2017 Interest expense $ 750
Interest payable $ 250
Notes payable $25,000
Cash $26,000
<em>Note:</em> At the end of the maturity date, the buyer will pay all the bills of the notes plus interest. Interest payable becomes debit as it did not pay by the buyer on 31st December, 2016. The remaining interest = $25,000 × 12% × (90 ÷ 360) = $750. Total cash will be paid after the maturity = $25,000 + $250 + $750 = $26,000.
Answer:
1-a. ACME corporation is 1.26
Wayne corporation is 1.09
1-b. ACME corporation
Explanation:
ACME ($ in millions) Wayne ($ in millions)
Total current assets $ 12,987 $ 8,258
Total current liabilities $ 10,301 $ 7,545
1-a) Formula for calculating current ratio: Current ratio = Current assets ÷ Current liabilities
ACME corporation, current ratio = $ 12,987 million ÷ $ 10,301 million = 1.26
Wayne corporation, Current ratio = $ 8,258 million ÷ $7,545 million = 1.09
1-b. The higher the current ratio, the better the liquidity position. ACME corporation has the better ratio.