Answer:
FV= $22,333.56
Explanation:
Giving the following information:
Semi-annual investment= $750
Interest rate= 0.08/2= 0.04
Number of periods= 10*2= 20
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= semi-annual deposit
FV= {750*[(1.04^20) - 1]} / 0.04
FV= $22,333.56
Answer:
Method of authority
Explanation:
Since, Riku is receiving inputs from the CEO for HR practices( which he thinks are perfect). Riku is relying on the Method of Authority.
Method of authority is philosophy in which truth is established through trusted sources or someone in authority such as God , tradition, public saction. The knowledge gained through a trusted source built's confidence and assurance.
Answer:
Net profit= $491,000
Explanation:
An income statement is one of the three important financial statements used for reporting a company's financial performance over a specific accounting period. The income statement focuses on the four key items - revenue, expenses, gains, and losses. It does not cover receipts (money received by the business) or the cash payments/disbursements (money paid by the business).
It follows the general structures:
Revenues (+)
Operating Revenue
Non-Operating Revenue
Total
Expenses (-)
Primary Activity Expenses
Secondary Activity Expenses
Total
Gains (+)
Losses (-)
Net income/loss
In this exercise:
Total revenues=$1,673,000
Expenses:
Office expense 488,000
Miscellaneous expense 34,000
IWages expense 660,000
Total Expenses=$1,182,000
Net profit= $491,000
Boomer company purchased office equipment for $1,000 on december 5. the office equipment depreciated $30 during december. the adjusting entry should include a: Debit to Depreciation expense $ 30
Adjusting entries correct previously recorded journal entries, allowing revenue and costs to be recognized as they occur.
Assume, for example, Depreciation that you bill a customer for $1,000 in services in December. They then pay you in January or February, after the previous fiscal year has ended.
To begin, you record the cash in December as profit expected to be collected in the future in accounts receivable. Then, when the client pays in February, an adjustment entry must be made to record the receivable as cash.
This is referred to as an accrued revenue adjustment entry.
To learn more about Adjusting entry from the given link:
brainly.com/question/13716497
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Answer:
The correct answer is $1,000.
Explanation:
According to the scenario, the given data are as follows:
Mike age = 60 Years
Mike's total taxable compensation = $40,000
Roth IRA contribution = $6,000
So, we can calculate the contribution of Mike to a traditional IRA by using following formula:
According to Laws, For age above 50 years Maximum Combined contribution for Roth IRA and Traditional IRA can be $7,000.
So, Contribution to Traditional IRA = $7,000 - Roth IRA contribution
= $7,000 - $6,000
= $1,000
