how much money must you invest now at 4.7% interest compounded continuously in order to have $10,000 at the end of 4 years?

Al’s Automotive started the year with total assets of $250,000 and total liabilities of $180,000. During the year the business r

ludmilkaskok [199]

Answer:

Option A $210,000

Explanation:

As we know that:

Closing Equity = Opening balance + (Revenues - Expenses - Dividends)

To find closing equity we have to find opening equity and the opening balance is the difference of opening assets and opening liabilities so:

Opening Total Equity = Opening Total Assets - Opening Total Liabilities

Putting values we have:

Opening Equity = $250,000 Op. Assets + $180,000 Op. Liabilities

= $70,000 Opening Equity

So putting the value of opening equity we have:

Closing Equity = $70,000 Opening Equity + ($375,000 Revenue - $200,000 Expenses - $35,000 Dividends)

= $70,000 + 140,000 Retained Earnings = $210,000 Closing Equity

So the option A is correct.

7 0

3 years ago

Assume you are the accountant for Austin Industries. Ellis Austin, the owner of the company, is in a hurry to receive the financ

lorasvet [3.4K]

Answer:

Once you make the proper adjustments, the income statement should no longer show a $95,560 profit, instead it should show $55,080

Explanation:

1. Rent of $42,000 was paid on July 1, 2019, for 12 months.

December 31, 2019, adjusting entry on prepaid rent

Dr Rent expense 21,000

Cr Prepaid rent 21,000

So rent expense must increase by $21,000

2. Purchases of supplies during the year totaled $18,000. An inventory of supplies taken at year-end showed supplies on hand of $2,720.

December 31, 2019, adjusting entry on supplies inventory

Dr Supplies expense 15,280

Cr Supplies 15,280

So supplies expense must increase by $15,280

3. The building was purchased three years ago and has an estimated life of 30 years (total accumulated depreciation for 3 years = $21,000)

December 31, 2019, adjusting entry on building depreciation

Dr Depreciation expense 4,200

Cr Accumulated depreciation - building 4,200

So depreciation expense must increase by $4,200

Adjusted income statement should be:

budgeted profit $95,560

- rent expense ($21,000)

- supplies expense ($15,280)

- depreciation expense ($4,200)

net income after adjustments = $55,080

8 0

3 years ago

Total 17500 shirts are produced and sold. The selling price is $22, variable cost per unit is $18 and fixed cost is $ 80000. If

scoray [572]

Answer:

please mark me as brainlist please

Explanation:

The basic theory illustrated in (Figure) is that, because of the existence of fixed costs in most production processes, in the first stages of production and subsequent sale of the products, the company will realize a loss. For example, assume that in an extreme case the company has fixed costs of ?20,000, a sales price of ?400 per unit and variable costs of ?250 per unit, and it sells no units. It would realize a loss of ?20,000 (the fixed costs) since it recognized no revenue or variable costs. This loss explains why the company’s cost graph recognized costs (in this example, ?20,000) even though there were no sales. If it subsequently sells units, the loss would be reduced by ?150 (the contribution margin) for each unit sold. This relationship will be continued until we reach the break-even point, where total revenue equals total costs. Once we reach the break-even point for each unit sold the company will realize an increase in profits of ?150.

For each additional unit sold, the loss typically is lessened until it reaches the break-even point. At this stage, the company is theoretically realizing neither a profit nor a loss. After the next sale beyond the break-even point, the company will begin to make a profit, and the profit will continue to increase as more units are sold. While there are exceptions and complications that could be incorporated, these are the general guidelines for break-even analysis.

As you can imagine, the concept of the break-even point applies to every business endeavor—manufacturing, retail, and service. Because of its universal applicability, it is a critical concept to managers, business owners, and accountants. When a company first starts out, it is important for the owners to know when their sales will be sufficient

7 0

2 years ago

Alex invested $10,500 in an account that pays 6 percent simple interest. how much money will he have at the end of four years?'

Marizza181 [45]

The amount generated from the investment with simple interest is calculated through the equation,

F = P x (1 + in)

where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.

From this item it can be identified that,
P = $10,500
i = 0.06
n = 4

Substituting the known values,

F = ($10,500) x (1 + (0.06)(4))
<em> F = $13020</em>

Therefore, after four years, the amount of money that Alex will have is $13,020.

4 0

3 years ago

Andy, a junior in high school, is considering his options for employment following graduation. His uncle, a master electrician,

mojhsa [17]

Answer:

Andy should look and identify his field of interest before choosing a specific career path. If she has none of preferences for his career choice then se can look for other factors to select specific career path.

Explanation:

Andy's grandfather has spend his life in building trades and he is a successful person. He thinks Andy should choose same career path as he did and he can be successful too but this is not the case. The thing can be different in this era, the preferences and nature of Andy might be different from his grand father. There are many others factors which also need to be considered as the job security, learning potential in the field, progress in career, wages and pay rise, working environment and others.

3 0

3 years ago

how much money must you invest now at 4.7​% interest compounded continuously in order to have​ $10,000 at the end of 4 ​years?

how much money must you invest now at 4.7% interest compounded continuously in order to have $10,000 at the end of 4 years?