Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. It will take about 120 quarters until the account balance reaches $0.
Amount invested (Present value) = $250000
Quarterly payment (At the end of each quarter) (P) = $4500
Interest Rate (Quarterly) (r) = 6% /4
= 1.5% = 0.015
A number of quarters (n) = ?
Future value at the end = 0
Present value of Annuity formula:
Present value = P × 
250000 = 4500 × 
250000 = 300000 × 
250000 / 300000 = 
0.83333 = 
n = 120
Hence is shall take 120 Quarters until the account balance is $0.
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Answer: Please refer to Explanation.
Explanation:
1. Honesty.
State the purpose of your call to the secretary and sell your product. For instance, " Hello, my name is Mr. Petal and I represent a fast rising Paper and Metal Container company. After researching about your company, I felt it most expedient to get in touch with Mr. Firestone as I believe this is business he will be interested in. We offer perks that are unmatched in the industry".
2. Persistence.
You can be persistent on the phone if you detect deceit in the secretary's tone.
For instance,
" Having been in the chemical industry myself, I know such an opportunity does not come often and I really do guarantee that we give the best benefits in the industry. If you can, just let me talk to Mr. Firestone, I promise that neither of you will regret it".
If it still doesn't work, ask for a convenient time you can call back.
The answer is ‘beg’. Since line notes (starting from the bottom and going up on the treble clef) are E G B D F. And the space notes () are F A C E
Answer:
True
Explanation:
When machine is purchased, then the assets increase by the carrying or purchase value of the machine purchased. Here, it is of $1 million.
Further, when it is purchased as against any credit, it creates a liability with the same amount.
Since here also the liability amount = $1 million, it will be recorded with the same.
As there is no involvement of Equity or Retained earnings this do not lay any impact on carrying value of owners equity.
Thus, it is True.
Answer:
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
Cr Sales revenue $1,730
Cr Unearned sales revenue $550
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Explanation:
Preparation of the journal entries for Geraths in 2020
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
($1,730+$550+$1,980)
Cr Sales revenue $1,730
($1,980/$2,610*$2,280)
($1,980+$630=$2,610)
Cr Unearned sales revenue $550 ($630/$2,610*$2,280)
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
