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AlexFokin [52]
3 years ago
8

You want to have $1 million in your savings account when you retire. You plan on investing a single lump sum today to fund this

goal. You are planning on investing in an account which will pay 7.5 percent annual interest. Which of the following will reduce the amount that you must deposit today if you are to have your desired $1 million on the day you retire? I. Invest in a different account paying a higher rate of interest. II. Invest in a different account paying a lower rate of interest. III. Retire later. IV. Retire sooner.
Business
1 answer:
Karo-lina-s [1.5K]3 years ago
7 0

Answer:bruh

Explanation:

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The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31.
vova2212 [387]

Answer:

CRUZ COMPANY

1. Closing Entries:

No. Account Title             Debit      Credit

901 Income Summary  $33,100

612 Depreciation expense

—Equipment                                  $3,000

622 Salaries expense                  22,000

637 Insurance expense                 2,500

640 Rent expense                         3,400

652 Supplies expense                  2,200

To close expenses to the Income Summary.

404 Services revenue $44,000

901 Income Summary                    $44,000

To close Service Revenue to the Income Summary.

318 Retained earnings $37,600

901 Income Summary (Retained Earnings) $37,600

To close the Retained Earnings of prior year to Retained Earnings section of the Income Summary.

901 Income Summary

    (Retained Earnings) $7,000

319 Dividends                                    $7,000

To close the Dividends to the Retained Earnings section of the Income Summary.

2. CRUZ COMPANY

Post-Closing Trial Balance

As of December 31

No. Account Title             Debit      Credit

101 Cash                        $ 19,000

126 Supplies                    13,000

128 Prepaid insurance     3,000

167 Equipment               24,000

168 Accumulated depreciation

—Equipment                                  $ 7,500

307 Common stock                        10,000

318 Retained earnings                    41,500

Totals                        $ 59,000   $ 59,000

Explanation:

a) Data and Calculations:

CRUZ COMPANY

Trial Balance

As of December 31

No. Account Title             Debit      Credit

101 Cash                        $ 19,000

126 Supplies                    13,000

128 Prepaid insurance     3,000

167 Equipment               24,000

168 Accumulated depreciation

—Equipment                                  $ 7,500

307 Common stock                        10,000

318 Retained earnings                   37,600

319 Dividends                  7,000

404 Services revenue                   44,000

612 Depreciation expense

—Equipment                    3,000

622 Salaries expense  22,000

637 Insurance expense 2,500

640 Rent expense         3,400

652 Supplies expense 2,200

Totals                        $ 99,100    $ 99,100

b) Income Summary for the year ended December 31:

Revenue                   $44,000

Expenses                   (33,100)

Net Income              $10,900

Retained Earnings    37,600

Dividends                  (7,000)

Retained Earnings $41,500

5 0
3 years ago
Customers paying with credit consider the purchase a kind of
Anna35 [415]

Answer:

The answer is investment

Explanation:

4 0
3 years ago
Could someone help me
Natasha2012 [34]
The answer is A. ^^ hope that helps!
5 0
3 years ago
Which three factors decrease because of protectionism?
boyakko [2]

Answer:

competition, goodwill with trade partners, and importation of goods

Explanation:

protectionism raises the cost of imported goods

5 0
3 years ago
Kuzio Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Sell
rusak2 [61]

Answer:

<em>Net operating income  $8,950</em>

Explanation:

<em>The overall impact on the net operating income is the amount of increase in contribution from the addtional sales less the increase in monthly advertising budget. </em>

<em>                                                          $</em>

Contribution = ($75 × 190) =     14,250

Fixed cost - advertising       <u>    ( 5,300)   </u>    

Net operating income          <u>     8950</u>

Please, note that the fixed costs of $194,000 per month are not relevant for this decision. Simply because they would be incurred either way and that are not completely traceable to the increase sales.

3 0
3 years ago
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