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tatuchka [14]
3 years ago
6

Katie had a high monthly food bill before she decided to cook at home every day in order to reduce her expenses. She starts to s

ave $1,410 every year and plans to renovate her kitchen. She deposits the money in her savings account at the end of each year and earns 5% annual interest. Katie’s savings are an example of an annuity. If Katie decides to renovate her kitchen, how much would she have in her savings account at the end of eight years?

Business
1 answer:
LekaFEV [45]3 years ago
3 0

Answer: $13,464.23‬

Explanation:

Kate is saving a constant amount of $1,410 per year so indeed it is an annuity.

The amount she will have in the account after 8 years is the future value of the annuity after 8 years.

The formula is;

Future Value of Annuity = Annuity * (future value factor of annuity, 8 years, 5%)

= 1,410 * 9.5491

= 13,464.231‬

= $13,464.23‬

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Acquired $60,000 cash from the issue of common stock. Received an $8,200 cash advance for services to be provided in the future.
emmainna [20.7K]

Answer:

<u>TRIAL BALANCE:</u>

                   Debit Credit

Cash            79600

AR                       7500

Supplies                  400

slaries expense 3100

op- expense        16100

supplies expense 1600

dividends        2000

Account Payable               3000

saalaries expense                3100

Unearned Revenue               5100

Common Stock             60000

Service revenue              39100

                       110300    110300

Explanation:

We have to record eahc time an accoutn is used and once we got all transactions we determiante the balance

Cash

Debit Credit

60000

8200

28500

        15100

        2000

<u>96700 17100</u>

<em>79600</em>

AR

Debit Credit

36000

<u>        28500</u>

7500

Supplies

Debit Credit

2000

<u>         1600</u>

 400

salaries expense op- expense supplies expense

Debit Credit    Debit Credit Debit Credit

3100        16100          1600

Account Payable

Debit Credit

       2000

       16100

15100

<u>15100  18100    </u>

        3000

Salaries Payable

Debit Credit

         3100

Unearned Revenue

Debit Credit

        8200

<u>3100               </u>

        5100

Common Stock

Debit Credit

       60000

Service revenue

Debit         Credit

      36000

<u>          3100   </u>

        39100

Then we construct the trial balance which all these account balance.

5 0
3 years ago
While setting the price of a product, what must managers consider? A cost of the whole marketing mix B) buying capacity of the c
Naddik [55]

Answer:

While setting the price of a product, managers must consider all of the following: A) cost of the whole marketing mix B) buying capacity of the customers C) profit it should bring the company D) transportation cost E) personnel cost to the company

Explanation:

Key factors in calculating the sale price can be:

  • Costs are a major factor in determining the selling price and a way of forming a price that is primarily related to costs called “ground” because it represents the minimum at which the price can be set. It includes cost plus other costs with no projected or minimal profit;
  • Demand/buying capacity as a key factor in price calculation is tied to a method called the "ceiling" because capacity exceeds the price limit that customers are willing to accept to get a product or service.
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Cost-based pricing has its sub-methods such is Cost plus method

The basic principle is to add a rate of profit to the sum of direct and indirect costs. This way price consider a profit to it should bring to company.

Direct costs include material and labor costs, and indirect or general costs comprise a portion of fixed indirect costs such as depreciation, administration costs, sales costs and other general costs.

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5 0
3 years ago
Meaning of creative thinking​
astra-53 [7]

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8 0
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Keith_Richards [23]

Answer:

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It can be regarded conveyer belt system which brings about production of identical as well as standardized item with fast rate as regards the speed. It should be noted that In a process operation, each process has a separate department which will accumulate costs for ;

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✓direct labor

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Generally, the financial aid awards depend on the accurate details given in the SAR report.

However, should there be an error in the SAR report, here is the step you can take:

Either you correct or update your Free Application for Federal Student Aid, often referred to as FAFSA form.

The FAFSA form can be filled online.

SAR is an acronym for Student Aid Report.

Hence, in this case, it is concluded that SAR information is crucial for students that need financial aids.

Learn more here: brainly.com/question/24801462

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2 years ago
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