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artcher [175]
3 years ago
14

Joe plans to fund his individual retirement account (IRA) with the maximum contribution of $2,500 at the end of each year for th

e next 30 years. If Joe can earn 10 percent on his contributions, how much will he have at the end of the thirtieth year?
Business
1 answer:
gayaneshka [121]3 years ago
8 0

Answer:

$411235

Explanation:

the amount he will have at the end of the thirtieth year F = P × ( (1+r)^n -1) / r

where P = $ 2500

r = 10% = 0.1

n = 30 years

F = $ 2500 ( ( 1 + 0.1) ³⁰ - 1 ) / 0.1 = $41135

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Equipment with an original cost of $75,000 and accumulated depreciation of $20,000 was sold at a loss of $7,000. As a result of
Tcecarenko [31]

Answer:

O increase by $48,000

Explanation:

A loss is made on disposal of an asset when the amount received from the disposal is lower than the carrying amount of the asset. The carrying amount or net book value of an asset is the difference between the cost of the asset and its accumulated depreciation.

Hence

Carrying amount = $75,000 - $20,000

= $55,000

Let the amount received on disposal be K

K - $55,000 = -$7,000

K = $55,000 - $7,000

= $48,000

This is the amount received from the disposal and it represents an increase in cash.

7 0
3 years ago
What is the FIRST action you should take if you suspect there has been a fraudulent charge on your credit card?
ICE Princess25 [194]

Call up the credit card company and have them look into it

3 0
3 years ago
Read 2 more answers
River rock, inc. just paid an annual dividend of $2.80. the company has increased its dividend by 2.5 percent a year for the pas
ohaa [14]
The answer to this should be 24.65.
I could be wrong but I think you are suppose to add.

Hope this helped :)
Have a great day
8 0
3 years ago
Sundance Systems has the following transactions during July.
inn [45]

Answer:

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

Jul-13 Dr Accounts Payable $ 113,400

Cr Cash $108,864

Cr Inventory $4,536

Jul-28 Dr Accounts receivables $ 134,400

Cr Sales revenue $ 134,400

Jul-28 Dr Cost of Goods Sold $108,864

Cr Inventory $108,864

Explanation:

Preparation of the journal entry to Record the transactions of Sundance systems, assuming the company uses a perpetual inventory system

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

(44 LCDs x $2700)

(Being to record inventory purchased on account)

Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

(2 LCDs x $2700)

(Being to record inventory returned that were defective)

Jul-13 Dr Accounts Payable $ 113,400

(42 LCDs x $ 2700)

Cr Cash $108,864

($ 113,400-$4,536)

Cr Inventory $ 4,536

(42 LCDS x $ 2700 x 4%)

(Being to record Amount paid within discount term of 10 days)

Jul-28 Dr Accounts receivables $ 134,400

[42 LCDs x $ 3200]

Cr Sales revenue $ 134,400

(Being to record Inventory sold)

Jul-28 Dr Cost of Goods Sold $108,864

(42 LCDS x $ 2700 x 96%)

Cr Inventory $108,864

(Being to record Cost of inventory sold adjusted)

4 0
3 years ago
The 1803 decision of the United States Supreme Court in the case of Marbury v. Madison established
Darina [25.2K]

Answer:

c). the power of judicial

Explanation:

This was the first time such power was wielded by the Court.

3 0
3 years ago
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