Answer:
Monthly payments=($56890.673/36)=$1,580.296
Explanation:
The formula for calculating the compound interest is given as;
A=P(1+r/n)^nt
where;
A-Amount to be paid after a given period of time
P-Principal amount initially taken=$52,000
r-The annual interest rate=3%=3/100=0.03
n-Number of times the interest is to be compounded per unit time=12
t-3
Replacing;
A=52000(1+0.03/12)^3
A=52000(1.0025)^(3×12)
A=56,890.673
The total amount after 36 months=$56,890.673
Monthly payments=($56890.673/36)=$1,580.296
Answer:
$1932.37
Explanation:
To find out how much additional money he must deposit if he waits for 1 year rather than making a deposit today we need to find the difference:
Difference = Value after 1 year - Present value
We first convert the interest rate percentage by dividing interest rate value by 100
Present Value = $40 000 / (1 + 0.035)5 = $7729.47
Value after 1 year = $40 000 / (1 + 0.035)4 = $9661.81
Difference = $9661.81 - $7729.47 = $1932.37
Answer:
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800
Credit Rent Revenue $10,800
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)
Credit Rent Revenue $10,800
Hello!
I believe the correct answer would be: C. Comprises a group of countries that remove trade barriers among themselves.
I hope you found this helpful! c:
Answer:
Explanation:
The preparation of the statement of stockholders' equity at the end of the year is presented below:
Apex Systems Co.
Statement of stockholders' equity
For the fiscal year ended December 31, 2016
Particulars Common Stock
Beginning
Balance $1,340,000
Add: Net income $356,000
Less:
Bart Nesbit, Drawing -$91,200
Ending balance $1,604,800
