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Fudgin [204]
3 years ago
10

You plan on supplementing your income. you would like to withdraw a semiannual salary of $6,951.20 from an account paying 1.75%

interest, compounded semiannually. determine the amount needed in the account such that you can withdraw the needed amount at the end of each period for 15 years. round to the nearest cent.

Business
1 answer:
ValentinkaMS [17]3 years ago
5 0
We are given with the data: A = <span>$6,951.20 per semi-annum that is $13902.4 per annum, i equal to 1.75% compounded semi-annually, and asked for P or the present worth to maintain the withdrawal for 15 years. 
the formula to be used is attached in the file (third one). substitute the i = 0.0175, n = 30, A = </span>$13902.4 and get P. 

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Management of Mcgibboney Corporation has asked your help as an intern in preparing some key reports for November. The beginning
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Answer:

$87,000

Explanation:

Calculation of the conversion cost for November.

Conversion cost can be defined as the combination of both direct labor costs and manufacturing overhead costs that are vital to help convert raw materials into product.

Using this formula

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3 years ago
A credit sale of $750 is made on June 13, terms 2/10, net/30. A return of $50 is granted on June 16. The amount received as paym
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The amount received as payment in full on June 23 is $686

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= 700 x 0.98

= 686

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3 years ago
Using the allowance method, is bad debt expense recognized in
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3 0
1 year ago
Nidal Company reported inventory in the 2020 year-end balance sheet, using the FIFO method, as $185,000. In 2021, the company de
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Answer:

Dr Retained earnings $14,000

Cr Inventory $14,000

Explanation:

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Having made the above adjustment, we can assume that the average cost method was used for 2020 books.

3 0
3 years ago
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