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Luba_88 [7]
3 years ago
9

Lloyd is a divorce attorney who practices law in Florida. He wants to join the American Divorce Lawyers Association (ADLA). The

membership dues for the ADLA are $750 per year and must be paid at the beginning of each year. However, the ADLA also has an option for members to buy a lifetime membership today for $8,000 and never have to pay annual membership dues.
Obviously, the lifetime membership isn't a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, it's a great deal. Suppose that the appropriate interest rate is 7.9%. What is the minimum number of years that Lloyd must remain a member of the ADLA so that the lifetime membership is cheaper (on a present value basis) than paying $750 in annual membership dues?
Business
1 answer:
Rasek [7]3 years ago
8 0

Answer:

13 years

Explanation:

Note that, if we add the annual interest rate of 7.9% to $8000 [(0.079*8000)+8000] we get a total value of $8632. We perform random division of the 8632 with 11 12, 13 years we note that at 13 years the total annual payment is lowest.

Such that 8632/13 years= $664 lower than paying $750.

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Received a $665 deposit from a customer who wanted her piano rebuilt in February. Rented a part of the building to a bicycle rep
andrey2020 [161]

Answer:

1. Dr Cash 665

        Cr Advance from customer   665

2. Dr Cash  685

           Cr     Other income   685

3. Dr cash   18675

      Cr   Account receivable    18675

4. Dr Account receivable     9600

          Cr        Sales revenue         9600

5. Dr Cash     8000

             Cr Account receivable      8000

6.Dr Utility expense   395

            Utility expense payable     395

7. Dr Supplies   1255

         Cr            Accounts payable   1255

8. Dr Accounts payable   2600

               Cr Cash                    2600

9.Dr Salaries and wages expense   12200

                 Cr Cash                                        12200

Explanation:

4 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
notka56 [123]

Answer:

Doubtful

Explanation:

The company will record the uncollectible $5,670 of its accounts receivable as a debit to uncollectible accounts expense and a credit to the DOUBTFUL account.

This is evident in the fact that the bad debt allowance method has three main principles which are:

1. Calculate uncollectible receivables

2. Debit bad debt expense and credit allowance for doubtful accounts in the journal entry

3. Debit allowance for doubtful accounts and credit the corresponding receivables account when it is time to write off the account.

8 0
3 years ago
What is the source of energy during the energy investment phase of glycolysis?
Leno4ka [110]

The source of energy during the energy investment phase of Glycosis are two ATP molecules.

Explanation:

During the energy investment phase of glycolysis , the energy source comes from two ATP molecules which then results in the formation of the two molecules of glyceraldehyde phosphate.

The two molecules of glyceraldehyde phosphate are then used for the second process of glycosis in which energy  is emanated and not invested.

Glycosis is the process that is characterized by the breakdown of enzymes into smaller molecules and constituent elements.

8 0
3 years ago
I need help please... :) Thank you so much
valina [46]

Answer:

gotta start off with how much i love your quackity pfp <3

Explanation:

1. I would suggest putting the education on your parents credit card. A student loan could be a livesaver in the moment, but if it can`t be paid off it will stick to you as future debt. This is especially hard to get rid of if you were having to take out a loan in the first place, because you don`t/didn`t have the money for it.

2. (this one im not as sure about so get a second opinion if you can) If the card was opened as a Target card, then it can only be used for the store assiciated with it. Also known as RedCard, Target cards are specifically for shopping and buying merchandise in that store or any corresponding locations.

Hope this helps ;-;

8 0
2 years ago
Read 2 more answers
During the current​ year, Karen sells her entire interest in Central Corporation common stock for $ 22 comma 000. She is the sol
statuscvo [17]

<u>Solution and Explanation:</u>

Amount realized   22,000 Minus: Basis 89,000 Loss recognized 67000

<u>answer a </u>) Since Karen is single she can guarantee this lose as a common misfortune to a limit of $50,000. Karen won't have the option to guarantee the whole $67,000 that she lost she can just guarantee $50,000.  

<u>answer b) </u>Since Karen is recording a joint government form she can guarantee a lose of upto $100,000. Karen will have the option to guarantee the whole loss of $67,000.  

<u>answer c )</u> With the stock being bought from another investor as opposed to the sorting out enterprise she can guarantee the whole loss of $67,000 as a captial gain misfortune.  

<u>answer d )</u> B. By selling a segment of the stock in one year and the staying stock in one more year Karen could change over the whole misfortune on the deal to a normal misfortune.

7 0
3 years ago
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