Answer:
i= 8% annual compunded
Explanation:
Giving the following information:
Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement.
We need to calculate the interest rate required to reach the $1 million goal in 18 years without any additional deposit.
FV= PV*(1+i)^n
Isolating i:
i= [(FV/PV)^(1/n)] - 1
i= [(1,00,000/250,000)^(1/18)] - 1= 0.08
i= 8% annual compunded
Answer:
Journal Entries
Journal 1 :
Equipment $23,400 (debit)
Cash $23,400 (credit)
Being Purchase of Equipment
Journal 2 :
Cash $6,800 (debit)
Service Revenue $6,800 (credit)
Being Service rendered for Cash
Journal 3 :
Salaries Expense $2,100 (debit)
Cash $2,100 (credit)
Being Salaries expense paid
Explanation:
Narrations have been provided to explain the transaction. Remember to use the account titles provided in accounting for the transactions.
Answer:
The correct answer is (d)
Explanation:
Better quality can help to reduce many costs such as customer’s dissatisfaction cost, inspection cost and warrant and service cost. When customers don't like the quality of the product they are likely to buy the same product from somewhere else that is the dissatisfaction cost. Still, maintenance cost is likely to incur no matter how good the quality is. Maintenance cost helps to keep the product clean and fresh for long-term use.
Answer: Decider
Explanation:
Janice functions as a decider her family, where she decides the kind of cereal her children would consume. A decider is simply a person in charge of making decisions on an issue.
Answer:
The depreciation is $52,500
Explanation:
The formula to compute the depreciation under the straight-line method is shown below:
= 
= 
= $52,500
Under the straight-line method, the depreciation expense should be the same for the remaining useful life. Life of the equipment or machine should always be expressed in years, not in hours.
So, these usage of hours should be ignored.
