Answer:
Annual deposit= $188,842.66
Explanation:
Giving the following information:
Williamsburg Nursing Home is investing in a restricted fund for a new assisted-living home that will cost $6 million.
n= 15 years
i= 10%
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (6,000,000*0.10)/[(1.10^15)-1]
A= $188,842.66
Answer:
B. A debit to Cash Over and Short for $5.
Explanation:
Preparation to determine what The entry to replenish the petty cash fund will include:
Dr Expenses $383
Dr Cash Over and Short $5
[$450-($383+$62)]
Cr Cash $388
($383+$5)
(To replenish petty cash fund)
Cash shortage=$450 - $62 - $383
Cash shortage= $5.00
Reimbursement and credit to cash=$383+$5.00 Reimbursement and credit to cash= $388
Therefore The entry to replenish the petty cash fund will include: A debit to Cash Over and Short for $5
Answer:
Federal National Mortgage Association, known also as FNMA.
Explanation:
The government established the Federal National Mortgage Association in 1938. Also is known as Fannie Mae.
Is a $1 billion funding, which was designed to increase liquidity in the mortage market. The secondary mortgage market was created. Was a function to created and efficient, fair and stable systems for home loans that worked well for decades.
Today, Fannie Mae buys and guarantees mortgages that adhere to its funding criteria, and then sells them on to investors, such as insurance companies, foreign governments and pension funds as mortgage-backed securities.
Answer:
The correct answer to the following question is the statement of cash flow.
Explanation:
If a owner or financial manager or any other person wants to know how the amount of money flow in and out of the company, then they can check out the company's cash flow statement .
A cash flow statement is that type of financial statement, which shows the amount of cash flow that is coming in the company and going out. This cash flow statement can be analysed to see if a company is able to generate regular flow of cash and is it able to meets its obligation ( operating expenses ) consistently .