Who do you think would be a better President<br> A. Trump or B. Biden

E20.5 (LO 3) (Application of Years-of-Service Method) Andrews Company has five employees participating in its defined benefit pe

GuDViN [60]

<u>Solution and Explanation:</u>

<u>Computation of service years </u>

Year Jim Paul Nancy Dave Kathy Total * Cost Amortization

2014 1 1 1 1 1 5 * 3000 15000

2015 1 1 1 1 1 5 * 3000 15000

2016 1 1 1 1 1 5 * 3000 15000

2017 1 1 1 1 4 * 3000 12000

2018 1 1 1 3 * 3000 9000

2019 1 1 2 * 3000 6000

72000

<u>Future years of service </u>

Jim 3

Paul 4

Nancy 5

Dave 6

Kathy 6

24

$cost per service year $=\$ 72000 / 24=\$ 3000$$

8 0

3 years ago

You plan to retire in 19 years. At the point of retirement, you want to be able to withdraw 32,877 at the end of each year forev

xz_007 [3.2K]

Since no any further contributions will be made to the retirement fund, the amount you need today is $172,014.

<h3>Calculation of Present Value and Present Value of a Perpetuity</h3>

The first step is to calculate the present value (PV) of the contribution at the point of retirement in 19 years using the formula for calculating the present value (PV) of perpetuity as follows:

PV in 19 years = CF / R ............................................. (1)

Where;

PV in 19 years = Present value (PV) of the contribution at the point of retirement in 19 years = ?

CF = Cash flow or yearly expected withdrawal = $32,877

R = Rate of return after retirement = 5.02%, or 0.0502

Substituting the values into equation (1), we have:

PV in 19 years = $32,877 / 0.0502 = $654,920.3187251

The amount you need today can be calculated using the present value formula as follows:

PV = FV / (1 + r)^n ……………………………………………. (2)

Where;

PV = Present value or the amount you need today = ?

FV = Future value or PV in 19 years = $654,920.3187251

r = rate of return prior to retirement = 7.29%, or 0.0729

n = number of years = 19

Substituting the values into equation (2), we have:

PV = $654,920.3187251 / (1 + 0.0729)^19 = $654,920.3187251 / 3.80737505803714 = $172,013.607470218

Rounding to the nearest dollar, we have:

PV = $172,014

Therefore, the amount you need today is $172,014.

Learn more about present value here: brainly.com/question/17322936.

3 0

2 years ago

Has any questions or problems.

bearhunter [10]

Answer:

Customer relationship management (CRM).

Explanation:

CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Therefore, these employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.

This ultimately implies that, customer relationship is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers. The fundamentals of customer relationship is based on improving marketing communications, sales support, technical assistance and customer service so as to bring satisfaction to the customers.

Hence, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.

5 0

3 years ago

Which of the following is an INCORRECT statement regarding the right to stop delivery of goods in transit? A. If the lessee rep

Verizon [17]

Answer:

B. The lessor does not have the right to stop delivery in transit due to the lessee's breach of the lease agreement; instead, the lessor must deliver the goods to the lessee in spite of the breach, and then sue the lessee for damages.

Explanation:

During the transit of goods, if the lessor learns of a breach of the lease agreement, he has every right to stop the delivery of the goods in transit by notifying the goods carrier or bailee. Since the carrier of the goods reports directly to the lessor, once he receives instructions from the lessor to stop delivery of goods, and he still has sufficient time, the delivery should be stopped.

Once the goods are reclaimed, the lessor can then decide to sue to recover damages. He can also, decide to cancel the contract at that point

7 0

3 years ago

In 2013, Chandler Company had net credit sales of $1,125,000. On January 1, 2013, Allowance for Doubtful Accounts had a credit b

mezya [45]

Answer:

Debit : Bad Debts = $33,000

Credit : Allowance for doubtful debts = $33,000

Explanation:

The question states that the allowance for doubtful debts are expected to be 10% of the accounts receivables. As at 31 December, accounts receivables is $330,000

This means that the allowance for doubtful debts is it is: $330,000 x 10%= $33,000

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. The 10% may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply an estimation made, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement.

The entry to record the above transaction is:

Debit : Bad Debts = $33,000

Credit : Allowance for doubtful debts = $33,000

When the amount is officially declared uncollectible, the allowance for doubtful debts account will be debited and the accounts receivables account will be credited.

3 0

3 years ago

Who do you think would be a better President A. Trump or B. Biden