Answer:
a) Compounded Annually = $9671.41
b) Compounded Monthly = $9691.51
c) Compounded Weekly = $9692.93
d) Compounded Daily = $9693.30
e) Compounded Continuously = $9693.36
Explanation:
Solution:
This question is very simple. We just need to know the basic formula.
Data Given:
P = Principal Amount = $8000
i = interest rate = 2.4% annual
n = period or year = 8 years.
So, our basic formula is:
A = P
a) Compounded Annually.
A = P
A = 8000
A = $9671.41
b) Compounded Monthly:
1 year = 12 months.
A = P
A = 8000
A = $9691.51
c) Compounded Weekly:
1 year = 52 weeks
A = P
A = 8000
A = $9692.93
d) Compounded Daily:
1 year = 365 days
A = P
A = 8000
A = $9693.30
e) Compounded Continuously:
For this we have following formula:
A = P
A = P
A = $9693.36
Answer:
$429,650
Explanation:
Cost of Mineral Mine $3,700,000
Less: Ascribed Land Value <u>$395,000</u>
Depletionable Value <u>$3,305,000</u>
No of units can be extracted from Mine = 10,000,000 units
No of units Sold = 1,300,000 units
Depletion Value = $3,305,000/10,000,000 * 1,300,000
Depletion Value = $429,650
Answer:
Explanation:
Goodwill is defined as the excess in amount of the purchase price of a company over the fair value at acquisition.It is intangible in nature , meaning it can not be physically separated from the other assets. Example are patent , brand name , good employee relation.
1.
Goodwill calculation
Purchase price - $2,500,000
Fair value - $1,800,000
Goodwill - $700,000
2.
No
Under the IAS 36, impairment of assets , goodwill is not amortized but annually tested for impairment as amortization is applicable to intangible assets with a definite useful life while intangible assets with indefinite useful life are annually tested for impairment to evaluate a loss in value experienced.
3
No
Under IAS 38 , Internally generated goodwill are not recognized as no related cost is incurred towards achieving a future benefit
Answer:
Rs 38640
Explanation:
Closing capital is the summary of transaction including current assets and long term prepaid less total liabilities as of close of business on the closing date
Cash Stock Adv. Salary out. creditor Capital
Opening capital 36,000 36,000
Advanced rent (300) 300
Purchase for cash (18000) 18000
Credit purchase 20000 20000
Goods sold 18000 (12000) 6000
Salary (300) 60 (360)
Drawings (3000) (3000)
32400 26000 300 60 20000 38640
Closing capital = Rs 38640