Answer:
$454,000
Explanation:
Ending inventory is the value of the inventory in the store at the end of the year.
Goods are purchased and added to the the beginning inventory, the sale for the period is deducted from it. the residual value is the value of ending Inventory.
In This question it is assumed that there is $26,000 of beginning inventory of the goods. $470,000 of the purchases were made and at the end of the year there was $42,000 balance of inventory.
We can calculate the deduction value as follow
Ending Inventory = Beginning Inventory + Purchases - deduction
$42000 = $26,000 + $470,000 - deduction
$42000 = $496,000 - deduction
Deduction = $496,000 - $42,000 = $454,000
Answer:
PMT = $95,000
Rate = 4%
Life = 8 years
a. Amount to be deposited today
= PV(Rate, N, -PMT)
= PV(4%, 8, -95,000)
= $639,610.76
b. Amount in account after 3rd withdrawal
= PV(Rate, N, -PMT)
= PV(4%, 5, -95,000)
= $422,913.12
c. Balance in account after 8th withdrawal
= = PV(Rate, N, -PMT)
= PV(4%, 0, -95,000)
= $0
d. How much would you have at the end of 8 years?
= FV(4%, 8, -639610.76)
= $875,351.49
The answer is an equilibrium point. In economics, this relates to the condition of the economic forces in which supplies and demand meet meaning the demand is equal to the supplies of the certain product. It is set by increasing or decreasing the price of a good in response to the movement of the supply and demand in the market.
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $1,000,000
To Bond payable $1,000,000
(Being the issuance of the bond is recorded)
For recording this we debited the cash as it increased the assets and credited the bond payable as it also increased the liabilities
2. Interest Expense Dr ($1,000,000 × 5% × 1 ÷ 2) $25,000
To Cash $25,000
(Being the interest expense is recorded)
For recording this we debited the interest expense as it increased the expense and credited the cash as it decreased the asset
