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Scorpion4ik [409]
3 years ago
7

Transent Foods announced that its current sales are $1,233,450 this year. The company forecasts a growth rate of 16 percent for

the foreseeable future. How long will it take the firm to produce earnings of $3 million? (Round off to the nearest year.)
Business
1 answer:
hodyreva [135]3 years ago
4 0

Answer:

Approximately 6 years

Explanation:

Use Future value formula to calculate the period:

FV = Target Earning = $3 million

PV = Current Sales = $1,233,450

g = growth of sales = 16%

n = number of years = ?

FV = PV ( 1 + g )^n

$3,000,000 = $1,233,450 x ( 1 + 16% )^n

$3,000,000 / $1,233,450 = ( 1 + 0.16 )^n

2.4322 = 1.06^n

log 2.4322 = log 1.16^n

n = log 2.4322 / log 1.16

n = 5.99

n = 6 years  (Rounded off to nearest whole year)

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Answer:

b. $120,800.00

Explanation:

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Tax allocation: land and building $ 500,000

land allocation will be: 100,000/500,000 x$ 604,000

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Improperly capitalizing a repair and maintenance expense item as fixed asset will result in:____.
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Improperly capitalizing a repair and maintenance expense item as a fixed asset will result in an <u>overstatement of profit in the current year and an understatement in future years</u>.

Fixed assets seek advice from long-term tangible assets which can be used inside the operations of an enterprise. They offer long-term monetary advantages, have a useful existence of a couple of yr, and are labeled as assets, plants, and equipment on the balance sheet.

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Learn more about Fixed assets here brainly.com/question/20289326

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