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Kitty [74]
3 years ago
8

Carrie Tune will receive $31,000 for the next 11 years as a payment for a new song she has written. Use Appendix D for an approx

imate answer, but calculate your final answer using the formula and financial calculator methods. a. What is the present value of these payments if the discount rate is 12 percent?
Business
1 answer:
r-ruslan [8.4K]3 years ago
6 0

Answer:

$184,068.70

Explanation:

Given that

Annual payments = $31,000

Discount rate = 12%

Time period = 11 years

The computation of the present value is shown below:

= Annual payments  × PVIFA factor for 11 years at 12%

= $31,000 × 5.9377

= $184,068.70

Simply we multiplied the annual payments with the PVIFA factor so that the present value could arrive

Refer to the PVIFA table

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Answer and Explanation:

The journal entries are shown below:

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(Being the insurance expense is recorded)

b.  Supplies expense $785 ($1,500 - $715)

            To Supplies $785

(Being the supplies expense is recorded)

We assume the balance of supplies before adjustment is $1,500

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          To Accumulated depreciation $330

(Being the depreciation expense is recorded)

d. Salary Dr $325

        To Accrued salary $325

(Being the accrued salary is recorded)

e.  Rent expense $1,600

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f. Unearned fees $790

           To Fees revenue $790

(Being the unearned fees is recorded)

We assume the balance of unearned fees before adjustment is $4,000

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= $790

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3 years ago
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Lubov Fominskaja [6]

walmart, hole this helps

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Kryger [21]

Answer:

The IRR (in %) for Project A is 31%.

Explanation:

Let IRR be x%

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