Ask question

Ask question

All categories

3 years ago

13

Gordon and lisa estimate that they will need $1,875,000 in 40 years for their retirement fund. if they can earn 8 percent annual

ly on their funds, how much do they need to save annually

1 answer:

inysia [295]3 years ago

5 0

I believe the answer would be $9,234

You might be interested in

Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be e

iren [92.7K]

Answer:

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

Explanation:

Indication for the revenue account title and amount for each transaction

a. Since we were told that Subscription will begins in next fiscal this means that Revenue amount will be earned when subscription begins in the next fiscal year.

b. Annual interest = $1,500

Interest revenue earned in September = 1,500 / 12

Interest revenue earned in September = $125

c. Based on the information given the amount of Revenue to be recognized for cash equivalent sales value will be $32,000

d. Since we were told that PVH has just received the order in the month of September this means that no revenue can be recognized.

e. Revenue to be recognized = 1,000 * $16

Revenue to be recognized = $16,000

f. Bssed on the information given the revenue amount has already been recognized when the order made is satisfied.

g. Based on the information given the payment that was made is for travel in January which means that revenue is to be recognized only when travel takes place. Hence, No revenue will be recognized in September.

h. Based on the information given the Issue of common stock will not be a sales transaction.

i. Based on the information given the amount of Cash received in the month of September is Únearned revenue reason been that revenue will be recognized l when football game is been played.

j. Based on the information given out of 7 games, first game is played, which means that the Revenue amount to be recognized will be :

Revenue= 70,000,000/ 7

Revenue = $10,000,000

k. Based on the information advance amount for future construction was received which is 'Unearned Revenue' therefore No revenue is earned yet.

l. Since It is sales on account the evenue to be recognized will be the amount of $96,000

m. Revenue to be recognized will be the amount of $300 because payment was made through credit card

Therefore the summary of Revenue account affected and Amount of Revenue earned in September is :

Revenue account affected; Amount of Revenue earned in September

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

.

6 0

3 years ago

Frisco Company's Merchandise Inventory account at year-end has a balance of $62,115, but a physical count reveals that only $61,

Lisa [10]

Answer:

Increase on cost of goods sold by $215, decrease in merchandize by $215.

Explanation:

With regards to the above information, the cost of goods sold will increase by $215, while the merchandize value would also decrease by $215.

Here, the books will be even out so that it would show there was a shrinkage at year end and beyond that which was purchased to have taken place.

4 0

2 years ago

For individual taxpayers, deductible losses for tax purposes do not include _____. business losses investment losses personal lo

galben [10]

<span>For individual taxpayers, deductible losses for tax purposes do not include personal losses. </span>

6 0

3 years ago

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales re

Ugo [173]

Answer:

<h2> Rembrandt Paint Company</h2><h2>Income Statement - December 31, 2021</h2>

Sales revenues $24,000,000

- Cost of goods sold <u> ($13,500,000)</u>

Gross margin $10,500,000

Operating expenses:

- Selling and adm. expenses ($420,000)

- Restructuring costs ($1,400,000)

Total operating expenses <u>($1,820,000)</u>

Income from operations $8,620,000

Other revenue and expenses:

Gain on sales of assets $3,200,000

Interest revenue $220,000

Loss from discontinued oper. ($2,200,000)

Interest expense ($420,000)

Total other revenue and expenses <u>$800,000</u>

Net income pre-tax $9,420,000

Income taxes (25%) <u>($2,355,000)</u>

Net income after taxes $7,065,000

Shares outstanding 600,000

Earnings per share (EPS) $11.78

3 0

3 years ago

What is the term that describes when two or more enterprises encounter each other in different regional markets, national market

snow_lady [41]

Answer:

Multipoint competition

Explanation:

Multipoint competition can be regarded as term used in describing a

process whereby there is engagement of a firm simultaneously in competitive interactions in a markets or across multiple products, resulting to competitive actions in a particular market leading to responses in a different/ multiple markets. Multipoint competition can also be explained as situation that exist when a firm is facing the same rival in different market. It should be noted that Multipoint competition is the term that describes when two or more enterprises encounter each other in different regional markets, national markets, or industries.

8 0

2 years ago