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miskamm [114]
3 years ago
13

Sydney saved $10,000 during her first year of work after college and plans to invest it for her retirement in 40 years. how much

will she have available for retirement if she can make 8% on her investment?
Business
1 answer:
Yuliya22 [10]3 years ago
3 0
Given:
P = $10,000, the principal
t = 40 yers, time duration
r = 8% = 0.08, the interest rate
Assume that
n = 12, monthly compounding.

The value after 40 years is
A=P(1+ \frac{r}{n} )^{nt}
nt = 12*40 = 480
1 + r/n = 1 + 0.08/12 = 1.0066667
A = 10000*1.0066667⁴⁸⁰ = $242,737.71

Answer:  $242,737.71

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Retained earnings:40)A)Generally consists of a company's cumulative net income less any net losses and dividends declared since
levacccp [35]

Answer:

The correct answer is letter "A": Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.

Explanation:

Retained Earnings is the portion of the net earnings of a company that it does not pay as dividends to stakeholders. The corporation retains this money and reinvests it or uses it to pay off a portion of its debt. <em>Retained earnings are calculated by taking the retained earnings at the beginning of the period and adding the current year's net income. Then, net losses are subtracted. The final result represents the retained earnings of the period.</em>

3 0
3 years ago
In 2007, Terry Inc. provided the following items in their footnotes. Their cost of goods sold was $22 billion under FIFO costing
nikdorinn [45]

Answer:

$22.2 billion

Explanation:

Calculation to determine How much would they report as LIFO cost of goods sold

Cost of goods sold=$22 billion + ($0.8 billion ­ $0.6 billion)

Cost of goods sold=$22 billion + $0.2 billion

Cost of goods sold= $22.2 billion

Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion

7 0
3 years ago
John Williams, manager of Phoenix Entertainment, wants to compute the variable overhead efficiency variance for the year. He has
jenyasd209 [6]

Answer:

$10,125 Favorable

Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base

Explanation:

Variable overhead spending variance = Actual Spending - budgeted Spending based on actual quantity

Variable overhead spending variance = (Actual Input x Actual rate) - ( Actual input x Budgeted rate)

Variable overhead spending variance = (10,125 x $29) - ( 10,125 x $30)

Variable overhead spending variance = $293,625 - $303,750

Variable overhead spending variance = $10,125 Favorable

Variable overhead spending variance is

Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base

4 0
3 years ago
The following information pertains to Crane Video Company.
AlekseyPX

Answer:

A. Cash balance per bank $ 9,066

Cash balance per books $9,066

B.Jul'31

Dr Cash $1,216

Dr Expenses for collection $ 26

Cr Note receivables $ 1,200

Cr Interest revenue $ 42

Jul'31

Dr Miscellaneous Expenses $ 34

Cr Cash $ 34

Explanation:

A. Preparation of Bank Reconciliation at July 31

BANK RECONCILIATION

Cash balance per bank, July 31, $7,863

Add Deposit in transit $ 1,800

Less Outstanding checks ($597)

Adjusted cash balance $ 9,066

Cash balance per books, July 31 $7,884

Collection of note receivable $1,216

($1200+$42-$26)

Less Bank service charge ($34)

Adjusted cash balance $ 9,066

B. Preparation of the adjusting journal entries at July 31 on the books of Crane Video Company

JOURNAL ENTRIES

Jul'31

Dr Cash $1,216

Dr Expenses for collection $ 26

Cr Note receivables $ 1,200

Cr Interest revenue $ 42

(To record note collection by bank)

Jul'31

Dr Miscellaneous Expenses $ 34

Cr Cash $ 34

(To record bank service charges)

8 0
3 years ago
Use your knowledge of the roles people assume on teams to complete the sentence.
kakasveta [241]

Answer:

d. socioemotional role

Explanation:

As the team works together, Carol plays a <u>socioemotional role</u>, diffusing conflicts and helping everyone feel welcome to contribute ideas.

8 0
3 years ago
Read 2 more answers
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