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nadezda [96]
2 years ago
8

Suppose Adam wants to have $750,000 in his IRA at the end of 30 years. He decides to invest in an annuity paying 6% interest, co

mpounded annually. What does he have to contribute each year to reach this goal? Enter your answer, rounded to the nearest cent. Omit the dollar sign and the comma.
Business
1 answer:
Strike441 [17]2 years ago
6 0
Pizza Liza Liza Liza
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A limited liability company (LLC) will be taxed as a corporation unless it elects to be taxed as a partnership. True False
hichkok12 [17]

Answer:

True

Explanation:

A LLC is a company that has its own identity and is taxed separated from all owners and investors.

6 0
2 years ago
When the present value of the cash inflows exceeds the initial cost of a project, then the project should be: accepted because t
AURORKA [14]
Is the multiple chose in it right or nah? <span />
6 0
3 years ago
ABC Tax Planning Service started business in January 2018. The company rented an office for $5,400 per month starting from Janua
Sholpan [36]

Answer:

balance in the Prepaid Rent account as of April 30 is $10800

Explanation:

given data

rent office =  $5,400 per month

rent paid = 6 month i.e January 1 to June 30

to find out

balance in the Prepaid Rent account as of April 30

solution

we know here that Period Expired till April 30 = 4 months ( January 1 to April 30)

and

so Period Balance = 2 Months  ( May 1 to June 30 )

so Prepaid Rent is = Balance Period × Rent per month

Prepaid Rent = 2  × 5,400

Prepaid Rent = $10800

so balance in the Prepaid Rent account as of April 30 is $10800

6 0
2 years ago
Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory cost
Ilya [14]

Answer:

  • <u>Sale, March 14 (1,380 units) cost of goods sold = $117,200</u>
  • <u>Sale, August 31 (1,550 units ) cost of goods = $96,100</u>
  • <u>Ending inventory = 1,800 units</u>

<u>Explanation</u>:

a. Cost Of Goods Sold Using LIFO

<u>1. Sale, March 14 (1,380 units)</u>

- from May 1 purchase)

1,130 units at $90= 1130*90= $101,700

+

from January 30 purchase

250 units from 2,150 units at $62 = $15,500

Total= 15,500+101,700= $117,200

<u>2. Sale, August 31 (1,550 units )</u>

- from January 30 purchase

1,550 units from 1900 units leftover

1550 at $62 = 1550*62= $96,100

b. Ending inventory

350 units leftover from January 30 purchase + 1,450 units of Beginning inventory, January 1 = 1,800 units

5 0
3 years ago
If staff salaries were $44,000/month last year, and the yearly cost increase from last year to this year $108,000, what is the m
andre [41]

Answer:

The monthly labor cost this year=$53,000

Explanation:

<em>Step 1: Determine yearly cost of labor last year</em>

T=C×N

where;

T=total cost of labor last year

C=labor cost per month

N=number of months in a year

In our case;

T=unknown, to be determined

C=$44,000 per month

N=12 months

Replacing;

T=(44,000×12)=$528,000

<em>Step 2: Determine yearly cost of labor this year</em>

This years cost of labor can be expressed as;

Y=T+I

where;

Y=this year's labor cost

T=last years labor cost

I=the increase in cost from last year to this year

In our case;

Y=unknown to be determined

T=$528,000

I=$108,000

Replacing;

Y=(528,000+108,000)=$636,000

<em>Step 3: Determine monthly cost of labor for this year</em>

Monthly labor cost this year=this years labor cost/number of months in a year

where;

Monthly labor cost this year=unknown to be determined

this years labor cost=$636,000

number of months in a year=12

Replacing;

Monthly labor cost this year=(636,000/12)=$53,000

The monthly labor cost this year=$53,000

8 0
3 years ago
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