Answer:
c.$17,800
Explanation:
Sunk cost is a term that refers to money that has been spent and cannot be recovered or recouped.
$17,800 that was used by Hi-tech to purchase computers cannot be recovered. So ,it is the sunk cost.
Answer:
deferred income tax benefit during 2018: 6,700
deferred income tax liability ending balance 27,400
Explanation:
beginning deferred tax laibility 34,000
this will change to 21,000 for the tax rate change
(100,000 x 21% = 21,000)
thus there is a decrease of 13,000 in the tax liablity
Then:
book income 400,000
temporary differenc(net): (30,000)
Taxable income 370,000
30,000 x 21% = 6,300 additional deferred tax expense
13,000 benefit - 6,300 deferred tax expense = 6.700 benefit
Answer:
Final Value= $483,603.80
Explanation:
Giving the following information:
You plan to deposit $4,700 at the end of each of the next 25 years into an account paying 10.3 percent interest
We need to calculate the final value using the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit= 4,700
n= 25
i= 0.103
FV= {4,700*[(1.103^25)-1]} / 0.103= $483,603.80
Answer: A - saver or as a supplier of funds
Explanation: From the above question, Monika is a saver because her income exceeds her expenses.
In this case she saves more on a regular basis because she controls her expenses and would not allow her expenses to be more than her income.
Going further, she is also a supplier of funds as her excess funds kept in the bank is a source of funds for the bank to loan out to generate interest.
Answer: True
Explanation:
As a result of the Accrual principle in accounting, transactions need to be recorded in the period that they occur in and not in the period they are paid for in.
The interest in Year 1 was incurred in year 1 and so will need to be recorded in year 1 for the period from issuance of the note to the last day of the accounting period.
This means that if the last day of the accounting period is December 31st, the interest for year 1 would have to be accrued from September to December of year 1 and recorded as year 1 interest.
