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klasskru [66]
3 years ago
15

You need to have $33,250 in 11 years. You can earn an annual interest rate of 4 percent for the first 6 years, and 4.6 percent f

or the next 5 years. How much do you have to deposit today
Business
1 answer:
Shkiper50 [21]3 years ago
5 0

Answer:

$11,667.91

Explanation:

Let the amount of deposit which needs to be made today is A. We have:

A x 1.04^6 + (A x 1.04^6 x 1.046^5) = 33250

A = $11,667.91

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Answer:

Dr Petty cash fund 1,200

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Dr Miscellaneous administrative expenses 121

Dr Cash short and over 24

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Dr Petty cash fund 804

    Cr Cash 804

the balance in the petty cash fund is $1,2000 again

7 0
3 years ago
This year, Herb Partnership generated $740,000 ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp.
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Prepare the journal entries for the following petty cash transactions of LintonGaming​ Supplies:Feb.1Established a petty cash fu
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Answer and Explanation:

1. Petty cash Dr, 150

           To Cash account $150

(Being establishment of the fund is recorded)

For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets  

2. Office supplies $35

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Here we debited the office supplies and entertainment expense as it increased the expenses  and we credited the cash account as  it decreased the current assets

3. Petty cash account  $150   ($300 - $150)

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For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets  

7 0
4 years ago
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1,710 units

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7 0
3 years ago
XYZ Company is union free. Because of increased costs and operational efficiency, it is in XYZ Company’s best interest to avoid
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Answer:

Make sure employees understand that anyone who attempts unionization will be discharged

Explanation:

Companies are not allowed to threaten employees who are interested in forming a union with discharge.  

3 0
3 years ago
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