Answer:
28.85
Explanation
Keanu has decided to save a fixed amount of 70,000 for a given period. We would need to calculate the number of years to achieve 7,796,223 using the FVIFA formula (Future value interest for an annuity)
Fixed payment× FVIFA=Future value
<em>FVIFA</em> =
where r is the periodic rate (9%)
and n is the number of periods
therefore; 70000×=7796223
=(7796223×0.09)/70000
n=27.85
However, since Keanu will not invest until the end of the first year, he will spend 28.85 years to achieve his goal
<span>Total itemized deductions must be “greater than the standard deduction” in order to reduce the tax liability.
Itemized deductions are the personal expenditures which can be deducted from the adjusted gross income (AGI) when the taxable income is determined.
Standard deduction is a blanket deduction which depends on the tax-payer’s age, filing status and other factors. It is taken by a taxpayer whose itemized deductions are comparatively small.
To avoid the itemizing deductions, an individual can chose to take the standard deduction, which is a flat amount.
</span>
Explanation:
The journal entries are as follows
1. Account receivable Dr $9,700
To Sales revenue $9,700
(Being the sale is recorded)
It is computed below:
= $10,000 - $10,000 × 3%
= $10,000 - $300
= $9,700
2. Cash Dr $9,700
To Account receivable $9,700
(Being the receipt of the payment is recorded)
3. Cash Dr $10,000
To Account receivable $9,700
To Sales discount forfeited $300
(Being the receipt of the payment is recorded)
negative zero is not a thing so its going to be positive zero or just zero
Answer:
Instructions are listed below
Explanation:
Giving the following information:
For each of the following, indicate the possible effects on demand, supply, or both as well as equilibrium price and quantity of chocolate ice cream.
a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream.
Demand: decreases (because of the higher price)
Supply: restrains.
Equilibrium price: rises
Equilibrium quantity: decreases
b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits.
Demand: increases
Supply: increases
Equilibrium price: rise
Equilibrium quantity: increases
c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream.
Demand: decreases
Supply: decreases
Equilibrium price: decrease
Equilibrium quantity: decrease
d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.
Demand: remains
Supply: increase
Equilibrium price:
Equilibrium quantity: