Answer:
present value = $7296.14
Explanation:
given data
future value = $34,000
time t = 20 year
rate r = 8% = 0.08
solution
we apply here future value formula for get present value that is
future value = present value ×
.....................1
put her value and we get
$34,000 = present value ×
present value =
present value =
present value = $7296.14
Answer:
Adjusted balance = $23,387
Explanation:
Franklin Company
Bank Reconciliation statement
Bank balance as of August 31 $21,837
Add: Deposit in transit <u> $ 7,350</u>
$29,187
<u>Less: Outstanding check $(5,800)</u>
Adjusted cash balance $23,387
Cash balance as of August 31 $22,662
Add: Collection of Note receivable <u> $ 870</u>
$23,532
<u>Less: Bank service charge $( 145)</u>
Adjusted cash balance $23,387
Based on the amount paid by Olive Company for the two year period, the adjusting entry on December 31 would be a debit to an expense and a credit to prepaid expense for $2,050.
<h3>What would be the adjusting entry?</h3>
Based on the accrual method, only costs for the year can be recorded as expenses.
If any costs are for other periods, those costs would be credited to prepaid expenses.
The expense for this year for management services would be:
= Number of months from July to December x Amount paid / number of months in contract
= 6 months x 8,200 / 24 months
= $2,050
In conclusion, expenses will be debited $2,050.
Find out more on prepaid expenses at brainly.com/question/9270086.
Answer:
Lock
Explanation:
Locks is a mechanism to avoid the access of records from interacting with one another either in the form of user objects for example tables and/or rows or system objects not cannot be seen by the user such as data shared in memory.
The system (Oracle) obtains all the required locks when executing the transaction request so as to avoid any hassle faced by the user and so that they don't require to be bothered by it. This way the system provides both highest degree of data monitoring with lowest restriction.
Moreover, a fail safe data integrity is provided by the system in case of any failure. This lock can also be done manually by the user.