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Debora [2.8K]
3 years ago
10

Why is it important to start saving for retirement early?

Business
2 answers:
ra1l [238]3 years ago
5 0
A, because early investing allows you to maintain healthy spending habits, and your retirement savings will have more time to grow. also you can take advantage of your compound earnings.
forsale [732]3 years ago
4 0

Answer:

A

Explanation:

Saving early will allow you to gain more money because your interest will build over time.

You might be interested in
Prepare the general journal entries for Culver Company for____________.(a) The 2020 adjusting entry.(b) The sale of the Gordon s
-Dominant- [34]

Answer:

a) Debit fair value loss $7,900 Credit Investment $7,900

b) Debit Bank $66,300, Debit Fees $1,200 Credit investment $67,500

c) Debit investment $53,800, Credit Fees $1,300 Credit Bank $52,500

d) Debit Fair value loss $10,400 Credit Investment $10,400

Explanation:

c) the purchase of stock include fees and the fees are included in the cost of the shares and increase the cost of the asset hence they are capitalised on the cost. The fees are an expense directly associated with the purchase therefore are attributable costs.

the completed question

E17-15

(Equity InvestmentsTrading) Culver company has the following securities in its trading port- folio of securities on December 31, 2020.

Investments (Trading)                                                              Cost                                     Fair Value

1,500 shares of Gordon, Inc., Common                     $73,500                                   $ 69,000

5,000 shares of Wallace Corp., Common                  180,000                                   175,000

400 shares of Martin, Inc., Preferred                         60,000                                     61,600

$313,500                                 $305,600                                    

All of the securities were purchased in 2020.

In 2014, Culver completed the following securities transactions.

March 1Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200

April 1   Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300

Culver Companys portfolio of trading securities appeared as follows on December 31, 2021

Investments (Trading)            Cost                             Cost                            Fair Value

5,000 shares of Wallace Corp., Common      $180,000                     $175,000

700 shares of Earnhart Corp. Common         53,800                         $50,400

400 shares of Martin, Inc. Preferred              60,000                         $58,000

                                                                       293,800                       283,400

Instructions

Prepare the general journal entries for Culver Company for:

(a)The 2020 adjusting entry.

(b) The sale of the Gordon stock.

(c)The purchase of the Earnhart stock.

(d) The 2021 adjusting entry for the trading portfolio

3 0
3 years ago
Guerilla Radio Broadcasting has a project available with the following cash flows : Year Cash Flow 0 −$15,700 1 6,400 2 7,700 3
drek231 [11]

Answer: 2.36 years

Explanation:

Payback period is the amount of time it will take to pay off the initial investment/ outlay which in this case is $15,700.

= Year before investment is paid + (Amount remaining/ Cashflow in year of Payback)

Add up the cashflows to find the year before payback;

= 6,400 + 7,700

= $14,100

Year before payback = 2

Amount remaining;

= 15,700 - 14,100

= $1,600

Payback period = 2 + (1,600/ 4,500)

= 2.36 years

5 0
3 years ago
What type of business contracts with physicians to handle their claims and/or account receivable
k0ka [10]
Centralized billing office
4 0
3 years ago
Star Corp. had the following accounts and balances in its general ledger as of December 31:
Alex

Answer:

=$ 25,500

Explanation:

cash equivalents will be petty cash + cash at bank

= 500+20,000+5000

=$ 25,500

Cash or cash equivalent refers to assets held in the form of cash or can easily convert into cash in less than 90 days. Examples of cash include petty cash, cash in hand, cash in the bank, and debt securities whose maturity is within 90 days. Cash or cash equivalent appears at the top on the list of assets in a balance sheet.

Marketable debt securities are short-term to bond issued by a corporation and held by another company. They are listed as a current asset if they are to be sold within one year to long term investment if they are expected to last longer. Marketable equity securities are capital instruments. They are listed as current assets if they are to be liquidated in one year or long term investment if longer.

8 0
3 years ago
Identify and describe the purpose of the 3 types of employment forms.
Lilit [14]

Answer: Employee, worker and self-employed.

Explanation: An employee is an individual who has entered into or works (or worked) under the terms of a contract of employment.

A Worker A worker who is not an employee works under a contract whereby the individual.

A self-employed is the state of working by themself not as a employee .

5 0
2 years ago
Read 2 more answers
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