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Sloan [31]
3 years ago
6

Record the necessary entries in the Journal Entry Worksheet below

Business
1 answer:
Snezhnost [94]3 years ago
5 0

Explanation:

The journal entries are shown below:

1. Salaries expense A/c Dr $1,200       ($400 × 3 days)

      To Salary payable A/c Dr $1,200

(Being the accrued salary is recorded)

The 3 days are calculated from December 28 to December 31

2. Salaries expense A/c Dr $4,400         ($400 × 11 days)

Salary payable A/c Dr $1,200

                       To Cash A/c $5,600

(Being the payment is recorded)

3. Now the adjusted balance of Salaries Payable is

= Salaries Payable before adjustment in 2015 + Adjusted balance

= $0 + $1,200

= $1,200

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Answer:

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Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated using a financial calcuator

Cash flow in year 0 = $-1.25 million.

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Cash flow in year 2 to 5 = $350,000

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To find the IRR using a financial calculator:

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2. After inputting all the cash flows, press the IRR button and then press the compute button

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Mr. Hopper expects to retire in 30 years, and he wishes to accumulate $1,000,000 in his retirement fund by that time. If the int
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Answer:

Annual payment = $4,143.66 (Approx)

Explanation:

Given:

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Computation:

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