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Likurg_2 [28]
3 years ago
9

a) Sixteen years ago your parents opened a saving account in your name and made a lump sum deposit, today the balance of this ac

count is $260,000. If the account has been earning 6% compounded annually, how much did your parents initially deposit
Business
1 answer:
Sonbull [250]3 years ago
8 0

Answer:

$102,348.034

Explanation:

It is a simple problem of Compound Interest, we have to find the Principle amount invested.

Given:

Future value (F) = $260,000

Rate(R) = 6% = 6/100 = 0.06

Number of years (n) = 16 years

Initial deposit (C) = ?

Calculation:

Future value (F) = C\times (1+R)^n\\Future value (F) = C (1+0.06)^{16}\\260,000 = C(2.54035168)

$260,000/2.54035168 = C

$102,348.034 = C

So, Initial cash Deposit = $102,348.034

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18. The following gifts are received in 2016 by a not-for-profit entity: I. $2,000 specified by the donor to be used to pay sala
xeze [42]

Answer:

$7,000

Explanation:

Increase in Temporarily Restricted Net Assets = $2,000 + $10,000 + $5,000 = $17,000

Net increase in Temporarily Restricted Net Assets = Increase in Temporarily Restricted Net Assets - Amount of the conference room furniture purchased = $17,000 - $10,000 = $7,000

Note that the conference room furniture purchased is deducted because the donor did not stipulate a time restriction on holding the furniture.

Therefore, total amount should be recorded as an increase to Temporarily Restricted Net Assets is $7,000.

 

4 0
3 years ago
What's the appropriate response to receiving a talk about breaking a rule?
Marizza181 [45]

Answer:

Listen, dont be disrespectfull, and learn from it

Explanation: Dont dig a deeper hole

5 0
3 years ago
Assume that Cane normally produces and sells 62,000 Betas and 82,000 Alphas per year. If Cane discontinues the Beta product line
Talja [164]

Answer:

Please find the complete question in the attachment.

Explanation:

\beta the margin of contribution unit= 130-25-22-17-14 \ \ \ \ \ \  \ \ \ \ \ \ \ \ \ \ \ \ \ =52

\alpha Margin Contribution Unit = 90-10-21-7-10\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 42

8

Contribution losses =62000\times 42 \ \ \ \ \ \ \ \ \ \ \ \ = -2604000

Fixed cost avoidable =102000\times 20 \ \ \  \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 2040000

The margin of Alpha contributions =17000\times 52 \  \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ =884000

Fiscal benefits (disadvantage)= 320000

3 0
3 years ago
The net income reported on the income statement for the current year was $240,000. Depreciation was $50,000. Accounts receivable
Ilya [14]

Answer:

a. $337,000

Explanation:

Calculation to determine How much cash was provided by operating activities

Using this formula

Cash provided by Operating activities=Net income+Depreciation+Account receivable+Inventories decreased -Prepaid expenses+Accounts payable increased

Let plug in the formula

Cash provided by Operating activities=$240,000 + $50,000 + $10,000 + $30,000 - $1,000 + $8,000

Cash provided by Operating activities=$337,000

Therefore the cash provided by operating activities was $337,000

3 0
3 years ago
​Midtown, Inc. had the following transactions in​ 2018, its first year of​ operations: bullet Issued​ 31,000 shares of common st
Anna007 [38]

Answer:

The stockholders' equity is $6,90,000.

Explanation:

<u>Calculating the Total stockholders' equity:</u>

Total stockholders equity = Beginning stock equity + Net income

Total stockholders equity = (31,000 * 20) + 70,000

Total stockholders equity = 6,20,000 + 70,000

Total stockholders equity = $6,90,000

3 0
3 years ago
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