Answer:
$19,144.61
Explanation:
The first step would be to determine the present value of $1.25 million. After, the future value of that amount in 2 years has to be calculated
The formula for calculating future value:
P = FV / (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$1.25 million / (1.135)^35 = $14,861.23
Now we find the future value using this formula :
FV = P (1 + r)^n
$14,861.23 x (1.135)^2 = $19,144.61
Answer:
Bourne Inc.
Journal entries
Date Account Name Debit Credit
1-Dec Supplies $2,000
Accounts Payable $2,000
1-Dec Cash $6,000
Deferred Revenue $6,000
1-Dec Land $40,000
Notes Payable $40,000
15-Dec Accounts Payable $2,000
Cash $2,000
Adjusting entries
Date Account Name Debit Credit
31-Dec Supplies expense $1,900
($700 + $2,000 - $800)
Supplies $1,900
31-Dec Deferred Revenue $1,000
($6,000/6)
Service Revenue $1,000
31-Dec Interest expense $400
($40,000*12%* 1/12)
Interest Payable $400
Comprehensive Listening, when you look for cues and body language to discover hidden messages.
It's C)Costa Rica. It says "because of the climate and land of Costa Rica, coffee is much cheaper and faster to produce."
