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Hitman42 [59]
3 years ago
5

Determine the present value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1,FVAD of $1 and PVAD of $1)

(Use appropriate factor(s) from the tables provided.):
Future Amount i= n= Present Value
1. $21000 6% 12
2. $15000 6% 10
3. $26000 11% 10
4. $41000 11% 6
Business
1 answer:
icang [17]3 years ago
6 0

Answer:

Future Value= Present value(1+i)^n

1.Future Value=42,256

2. Future Value=26,862

3. Future Value=73,825

4. Future Value= 76,687

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Internal control procedures for cash receipts do not require that:_____.
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Answer:

b. All collections for sales are received immediately upon making the sales.

Explanation:

Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the

resources of an organization are been

measured as well as been directed and monitored.

It should be noted that Internal control procedures for cash receipts require that:.

✓Custody over cash is kept separate from its recordkeeping.

✓Clerks having access to cash in a cash register should not have access to the register tape or file.

✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.

✓Cash sales should be recorded on a cash register at the time of each sale

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3 years ago
How do your financial choices impact the economy?
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You become broke cause you don't pay your bills on time or car notes that's why the economy is failing
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4 years ago
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the answer is none of these

8 0
3 years ago
The following information pertains to Pernell Company's pension plan. Beginning PBO: $500,000; current service cost $50,000; dis
monitta

Answer:

= $560,000

Explanation:

Given that:

  • -Beginning PBO: 500,000
  • -Current Service Cost: 50,000
  • -Discount Rate: 6%  => interest cost = 500,000*6% = 30,000
  • -Contributions by Pernell: 40,000
  • -Benefits paid to employees 25,000
  • -Loss on PBO: 5,000

As we know that service cost; gains and losses; payments to retired employees; prior service cost; interest cost; payments to employees are factors that change the balance of the PBO

So the ending balance of the PBO will be:

Beginning PBO + Current Service Cost + Interest cost Loss on PBO -Benefits paid to employees

$500,000 + $50,000+ $30,000+$5,000-$25,000

= $560,000

4 0
3 years ago
A company purchased a tract of land for its natural resources at a cost of $1,544,800. it expects to mine 2,020,000 tons of ore
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The gradual decrease in the value of natural resource is called depletion. The deplection expense is calculated on the cost net off salvage value.

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Therefore, Depletion expense per ton of ore would be $0.64 per ton of ore.

5 0
3 years ago
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