Answer:
<h2>The present value of PV in this case is $527.76 approximately.</h2>
Explanation:
The mathematical or accounting formula of Present Value(PV)=
where FV denotes the future cash payment to be made,r represents the discount rate and n is the number of years in which the future payment has to made.Here,the future cash payment of FV is given as $1350,the discount rate is 11% or 0.11 and the number of years in which the FV has to be paid is 9 years.
Hence,PV in this case=
approximately
Therefore,based on the information given the PV in this case is $527.76 approximately.
"An Inquiry into the Nature and Causes of the Wealth of Nations", or "The Wealth of Nations", written by Scottish economist and philosopher Adam Smith. One of the first collected descriptions of what builds a nation's wealth. Written at the beginning of the Industrial Revolution, it covers division of labour, productivity and free markets. Took 10 years to write with reference to 17 years of notes, based off of observations about economic and societal conditions. Offered more practical information for the time to replace mercantilist and physiocratic theories.
The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.
Answer:
D. $42,000 should be debited to Land Improvements
Explanation:
The cost of the land housing the parking is recorded in the land account. Other costs such as paving cost and lights are improvements and as such are added and recorded in the Land Improvements accounts.
Total Land improvements = $30,000 + $12,000
= $42,000
The right answer is D. $42,000 should be debited to Land Improvements.
