Answer:
it will take 16.89 years for the account to increase to $2 million.
Explanation:
PV = $400,000
FV = $2,000,000
I/Y = 10%
Solving for N in:
FV = PV * (1 + I/Y)N
$2,000,000 = $400,000 * (1.10)N
5 = (1.10)N
N = 16.89 years
Therefore, it will take 16.89 years for the account to increase to $2 million.
The answer is SAFEGUARD RULE. Safeguard rule requires financial institutions to develop written security information plan that list out in details the plans of the bank to protect and to maintain protection of the customers' non-public information.
Answer:
Date General Journal Debit Credit
<em>Dec. 18</em> Cash $259,000
Unearned revenue $259,000
(To record advance receipt of cash)
<em>Jan. 23</em> Cash (2590000 - 259000) $2,331,000
Unearned revenue $259,000
Sales revenue $2,590,000
(To record cash sale)
<em>Jan. 23</em> Cost of goods sold $1,590,000
Inventory $1,590,000
(To record cost of goods sold)
Answer:
C. MACRS depreciation expense.
Explanation:
Material participation in an income-producing activity. That is, an activity that is regular, continuous, and substantial leading to income-producing actions, in which the taxpayer materially participates is an active income or loss.
According to Investopedia, it would be London.
