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3 years ago

What is the future value of your money

Business

2 answers:

babunello [35]3 years ago

5 0

Answer:

The future value of money by definition is the present value plus the interest earned. It relates to the concept that one dollar today is worth more than one dollar tomorrow because money has the capacity of earning interest.

The difficulty is to determine what interest does money earn. If you just invest your money in a CD, you will know beforehand what interest you are going to earn and can determine the future value of the CD, but if you invest in other type of assets things are not so simple. When you calculate the future value of money you assume that it will have a constant growth rate, or constant interest earned.

GalinKa [24]3 years ago

4 0

Future value is the value of an asset at a specific date. It measures the nominalfuture sum of money that a given sum of money is "worth" at a specified time in thefuture assuming a certain interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function.

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1 year ago

Jake serves on a committee of employees who were charged with selecting three co-workers to honor at the holiday banquet. One em

rjkz [21]

Answer:

3. How does the action I am proposing to take make me feel about myself?

Explanation:

According to Norman Vincent Peale, the following questions should be asked by Jake as he proceeds to make an ethical decision: How does the action I am proposing to take make me feel about myself?

According to Kenneth Blanchard and Norman Vincent Peale, authors of The Power of Ethical Management, there are three questions you should ask yourself whenever you are faced with an ethical dilemma:

1. Is it legal? Will I be violating civil law or company policy? Will I be violating the student code of conduct?

2. Is it balanced? Is it fair to all parties concerned both in the short-term as well as the longterm? Does it promote win-win relationships?

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2 years ago

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3 years ago

Smiley Corporation sold equipment costing with of accumulated depreciation for cash. Which of the following journal entries shou

Pani-rosa [81]

The question is incomplete as the figures are missing. The complete question is,

Smiley Corporation sold equipment costing $72, 000 with $66, 000 of accumulated depreciation for $10, 000 cash. Which of the following journal entries should be prepared?

A. debit Cash for $10, 000, credit Equipment for $6000 and credit Gain on Sale of Equipment for $4000

B. debit Cash for $10, 000, debit Accumulated Depreciation - Equipment for $66, 000, credit Equipment for $72000 and credit Gain on Sale of Equipment for $4000

C. debit Cash for $10, 000 and credit Gain on Sale of Equipment for $10, 000

D. debit Accumulated Depreciation - Equipment for $66, 000 and credit Equipment for $66, 000

Answer:

Option B is the correct answer.

Explanation:

To calculate the gain or loss on disposal of the equipment, we first need to determine the book value of the equipment on the date of sale.

Net Book Value = Cost - Accumulated depreciation

Net Book value = 72000 - 66000 = $6000

The gain/(loss) on disposal = Sales Proceeds - Net Book value

The gain/(loss) on disposal = 10000 - 6000 = $4000 Gain

The entry to record this transaction will be,

Cash $10000 Dr

Accumulated depreciation - Equipment $66000 Dr

Equipment $72000 Cr

Gain on sale-Equipment $4000 Cr

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3 years ago

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Verdich [7]

Answer:

Explanation:

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3 years ago