Answer: C. 10 years
Explanation: A long-term goal will take many years. An example is saving up enough money to buy a house. This will take many years to achieve the goal.
Answer:
$176,400
Explanation:
Life insurance need = 0.70 × Salary amount × 7
= 0.70 × $36,000 × 7
= $176,400
Therefore using the easy method the amountof insurance that Stephanie should carry is $176,400
Answer:
c. $74,450
Explanation:
The computation of the Net present value is shown below
= Present value of all yearly cash inflows after applying discount factor + salvage value - initial investment
where,
The Initial investment is $120,000
All yearly cash flows would be
= Annual net operating cash inflows × PVIFA for 6 years at 14%
= $50,000 × 3.8887
= $194,435
Refer to the PVIFA table
Now put these values to the above formula
So, the value would equal to
= $194,435 - $120,000
= $74,435 approx
I would suggest B because I wouldn’t believe would want their house to be gone
Answer:
$35,000
Explanation:
As the Allowance of Doubtful Accounts account already has the balance of $12,000, and we need $35,000 at the end of the year. We know that Allowance of Doubtful Accounts account account has credit nature so it needed $23,000 ($35,000 - $12,000) to be adjusted at the end of the year to make the adjusted balance equals to $35,000. So, the adjusted account balance will be $35,000.
