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agasfer [191]
3 years ago
15

Milo decides to invest $1,500 in a savings account every year at the beginning of the year for 10 years. Assuming an interest ra

te of 7%, how much will Milo have at the end of the 10th year

Business
1 answer:
irina1246 [14]3 years ago
4 0

Answer:

$22,175.40

Explanation:

For this question, we use the Future value formula that is shown on the attachment below:

Provided that,  

Present value = $0

Rate of interest = 7%

NPER = 10 years

PMT = $1,500

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the future value is $22,175.40

Therefore, the amount at the end of the year is $22,175.40

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Blain Company has $10,000 of accounts receivable that are current, $5,000 that are between 0 and 30 days past due, $3,000 that a
True [87]

Answer:

d. $1050.

Explanation:

We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts

\left[\begin{array}{cccc}Date&Amount&Expected&uncollectible\\$not due&10000&0.02&200\\$up to 30&5000&0.05&250\\$up to 60&3000&0.1&300\\$more than 61&800&0.5&400\\&&Total&1150\\\end{array}\right]

Balance of the allowance account:  100

The expense will be the adjustment made on the allowance to get the expected balance of 1,150

1,150 - 100 = 1,050

we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.

8 0
3 years ago
Stellar Plastics is analyzing a proposed project with annual depreciation of $19,500 and a tax rate of 34 percent. The company e
marysya [2.9K]

Answer:

$20,226

Explanation:

expected sales = 11,400 - 12,000 - 12,600

expected sales price = $7.20 - $7.50 - $7.80

expected variable cost = $3.072 - $3.20 - $3.328

total fixed costs = $31,000

if you use an excel spreadsheet you can calculate all the different possible simulations and combine all the expected sales x 3 different price levels x 3 different variable costs and 1 fixed cost. Once you get all the 27 possible solutions, you just get the average.

I attached it because there is no room here.

Download pdf
0 0
3 years ago
ABC Corporation distributes property to its sole shareholder, Andre. The property has a fair market value of $350,000, an adjust
saul85 [17]

Answer:

ABC has a gain of $145,000 and Andre's dividend income is $130,000

Explanation:

Property ABC issued, has the following:

fair market value = $350,000

Adjusted basis = $205,000

Liability = $220,000

Calculate ABC's Corporation gain:

Gain = market value - Adjusted basis

= $350,000 - $205,000

= $145,000

ABC has a gain of $145,000

Calculate Andre's dividend income since he is the sole shareholder:

Dividend earnings = fair market value - liability

= $350,000 - $220,000

= $130,000

Andre's dividend income is $130,000

Correct option is D.

With respect to distribution, ABC has a gain of $145,000 and Andre's dividend income is $130,000

8 0
3 years ago
2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $3
Tom [10]

Answer:

$6896551.7

Explanation:

Given the following :

Product R:

Selling price = $20

Variable cost = $6

Product S:

Selling price = $50

Variable cost = $30

Firm's fixed cost = $4, 000,000

Break-even point dollars = (Fixed cost /Contribution margin ratio)

Contribution margin : selling price - variable cost

Product R: $(20 - 6) = $14

Contribution margin ratio = ($14/$20) * 60% = 0.42

Product S: $(50 - 30) = $20

Contribution margin ratio = ($20/$50) * 40% = 0.16

Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58

Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)

= $4,000,000/0.58

= $6896551.7

3 0
3 years ago
Insurance protects you from associated risks, Match each scenario to the insurance
den301095 [7]

Matching each scenario to the insurance needed for protection.

  • Tyrell's son has leukemia and will need cancer  medications- Health insurance.

  • Someone broke into Maria's house and stole her flat screen TV and other values-  Homeowners insurance.

  • Don wants to make sure his family has enough money to pay off the house if he dies- Life insurance.

  • Jill broke both of her legs in a skiing accident. She will be out of work for several months while she recovers from her injuries- Disability insurance.

  • Due to careless driving, Lisa hit another car and hurt the passengers inside-  Liability insurance.

<h3>What is insurance?</h3>

Insurance can be defined as a coverage that help to cover cost or expenses in case of unforeseen or unexpected circumstances such as:

  • Accident
  • Fire
  • Theft etc.

Therefore Tyrell's son has leukemia and will need cancer  medications- Health insurance.

Learn more about insurance here:brainly.com/question/25855858

#SPJ1

8 0
2 years ago
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