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3 years ago

What is an asset register

1 answer:

7 0

A fixed asset register is nothing more than a list of fixed assets that belong to an entity. Traditionally the fixed asset register was maintained in written form by a bookkeeper using a book that was set aside specifically for that purpose. Nowadays, it is more often held in electronic format in an accounting system.

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You currently have $5,400. First United Bank will pay you an annual interest rate of 8.9, while Second National Bank will pay yo

IRISSAK [1]

Answer:

Second National Bank

Present value (PV) = $5,400

Future value (FV) = $13,900

Interest rate (r) = 10% = 0.10

FV = PV(1 + r)n

$13,900 = $5,400(1 + 0.10)n

$13,900 = (1.10)n

$5,400

2.574074074 = (1.10)n

Log 2.574074074 = n log 1.10

Log 2.574074074 = n

Log 1.10

n = 9.9 years

None of the answers is correct

Explanation:

In this case, we will apply the formula of future value of a lump sum. The present value, interest rate and future value were provided with the exception of number of years. Thus, the number of years becomes the subject of the formula. The future value equals present value, multiplied by 1 plus interest rate, raised to power number of years.

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4 years ago

A Firm needs to replace most of its machinery in five years at a cost of $500,000. The company wishes to create a sinking fund t

DaniilM [7]

Answer:

The quarterly deposit required is $ 20,578.36

Explanation:

in order to determine the needed quarterly deposit, we make use of pmt formula in excel, which is given as :

=-pmt(rate,nper,-pv,fv)

rate is the rate of return on the deposit at 8% per year but 2% per quarter(8%/4)

nper is number of deposits required in the fund,which number of years ,5 multiplied by 4(4 deposits per year)

pv is the present of the value of the future amount which is zero as it is not required.

Fv is the amount expected in 5 years which is $500,000

=-pmt(2%,20,0,500000)

pmt= $20,578.36

6 0

3 years ago

A customer is considering buying a new $30,000 car and will put $6,000 down and will borrow the remaining $24,000 from the autom

Helen [10]

He could take a personal loan or a automobile loan to cover costs or he could pay the 24K up front and take a loan of 6K so he can get the car.

8 0

4 years ago

If you expect the price of gold to increase in the near future, your demand for gold today will increase.A. TrueB. False

9966 [12]

Answer:

A. True

Explanation:

Gold is a valuable commodity acquired for various reasons. In economists, gold is as a store of value and an investment tool. Gold is traded in the financial markets like other valuable metals such as silver and copper.

If investors anticipate the price of gold to rise in the near future, demand for gold will increase. Gold will be bought as an investment asset for speculative purposes. Traders will buy gold and the current prices and wait to sell when the prices rise. Investors take advantage of price movement to make profits.

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4 years ago

The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for the first quarter of the ye

Effectus [21]

Answer: $30,000

Explanation:

Sales are $800,000 and the average price is $40. Number of units sold is;

= 800,000/40

= 20,000 units

Sales $ 800,000

Less: Cost of Goods Sold ($560,000)

Gross Margin $240,000

Less : Variable Costing

Selling Expenses (20,000 units X $3.00) ($60,000)

Administrative Expenses (5% of $ 800,000) ($40,000)

Contribution Margin $140,000

Less: Fixed Cost

Selling Expenses ($100,000 - $60,000) ($40,000)

Administrative Expenses ($110,000 -$40,000) ($70,000)

Net Operating Income  $30,000

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3 years ago