The purpose of financial accounting is to provide information that helps with the assessment of a firm's financial history and current performance. Financial accounting includes income statements, balance sheets, and statements of cash flows.
→Answer:
a. $188,533.82
b. $219,296.09
Explanation:
These problems can be solved using the present value of annuity formula which is:
PV= C x (1-(1+r)^-n)/r
Where:
PV = the present value of annuity (the amount we are solving for)
C= The annual amount receivable from the insurance company ($20,700)
r= The interest rate (7%)
n= Number of years (15 and 20 years respectively)
- To solve the first question (a) plug the variables into the formula and you will have → 20,700 × (1-(1.07)^-15)/.07= $188,533.82
- to solve the second question (b) plug the variables into the formula and you will have → 20,700×(1-(1.07)^-20)/.07 = $219,296.09
Answer:
The journal entry to record this note collection carried out by the bank should be:
Dr Cash 21,200
Cr Notes receivable 20,000
Cr Interest revenue 1,200
Explanation:
Notes receivable is an asset account and it probably represented a sale made on credit by the company, so when it was collected, the amount should decrease and that is done by crediting it.
On the other hand, since only $20,000 belonged to the note, the rest ($1,200) must be recorded as interest revenue. Revenues are always credited.
Outstanding bonds are currently yielding 8.42%, and the firm’s analysts estimate that the risk premium of its stocks over its bonds is currently 1.48%. as result, lincoln’s cost of internal equity = 9.9
Cost of equity = Bond's yield + risk premium
Internal equity, in its simplest form, refers to how employees in a firm who hold comparable roles or possess comparable skill sets are paid, whether through salaries or other perks associated with the job. Internal equity, then, is about equal pay for equal work.
Stock in the context of finance refers to the shares into which ownership of a corporation or company is divided.
[1] (In particular, the term "stocks" is also used to describe shares in American English.) A single share of stocks represents a portion of the corporation's ownership in relation to the total number of shares.
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Answer:
b.All the information and data in the company.
Explanation:
A CFO is the Chief financial officer is an organization. He or she is responsible for the company's financial risks, management, and reporting. The CFO evaluates a company's financial opportunities against its threats and manages the lower level finance managers.
Since the CFO is responsible for the organization's finances, he or she supervises the preparation and presentation of financial reports. The CFO guarantees the accuracy of the data reported. He or she ensures that the data used in the preparation of the reports is safely stored within the organization.
