Answer:
FV= $339,962.18
Explanation:
Giving the following information:
Annual investment (A)= $11,000
Number of periods (n)= 18 years
Interest rate (i)= 6%
<u>To calculate the future value (FV) after 18 years, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {11,000*[(1.06^18) - 1]} / 0.06
FV= $339,962.18
Answer: Allocating indirect expenses to the department.
Explanation:
Indirect Expenses are those expenses that the entire business incurred and not just that particular department or segment. This means that it cannot be directly attributed to any one instrument of expense such as products or services.
This is why when it comes to allocating indirect costs which has to be done to maintin proper records, apportioning those costs to each department is challenging because the amount of cost due is not plain or direct.
Answer:
True
Explanation:
Space brokers can be considered a primitive type of advertising agent. Space brokers bought space in newspapers in bulk, and therefore received a discount. They assumed the risk of not being able to sell the spaces and lose money while the newspapers benefited from sure sales. When the space brokers sold the space to their clients, they could charge them the normal newspaper rate (without discount) and they would still make money. This is similar to modern day advertising agencies that collect fees from media companies for placing ads.
Answer:
False
Explanation:
This statement is false. The fact that the amount the organization donated did not exceed 2 percent of the organization's gross receipts does not mean that this is allowable under the Internal Revenue Code. The Internal Revenue Code is a part of the federal statutory law of the United States. This code is implemented by the Internal Revenue Service.
Answer:
$2
Explanation:
The computation is shown below:
As we know that
Net realizable value = Selling price − Cost of completion
= $
60 - $10
= $50
And, the cost of the item M-23 is $52
So, the write down of inventory value of the item M-23 is
= Cost of the item - net realizable value
= $52 - $50
= $2
We simply deduct the cost from the net realizable value so that the write down value could come