Answer:
Maximum amount to be paid = $ 11,978.13
Explanation:
<em>This is an example of an annuity . </em><em>An annuity </em><em>is a series of periodic equal cash inflows or cash outflows occurring for certain number of years.</em>
<em>The maximum amount to be paid would be the present value (PV) of the cash flows discounted at the required rate of return of 8%</em>
This would be be done using the formulae below:
PV = A × 1 - (1+r )^(-n)/r
A- 3000 r - 8%, n - 5
PV = 3000× 1 -(1.08^(-5))/0.08
= 3000 × 3.9927
= $ 11,978.13
Maximum amount to be paid = $ 11,978.13
Answer:
A. Debit Income Summary $41,300; credit Expense accounts $41,300
Explanation:
At the end of the period, the revenue and expenses for the company are closed into the income summary account which in turn is closed into the retained earnings account.
For revenue, the entries are debit revenue and credit income summary with the revenue for the year. For expenses, credit expenses and debit income summary with the total expense for the year.
As such, given that Total revenues for the period are $58,200, total expenses are $41,300, and dividends are $10,200, the correct closing entry for the expense accounts is
Debit Income Summary $41,300
Credit Expense accounts $41,300
Answer:
Part A which statement identifies the central idea of the text President Bush speech
Explanation:
Freedom of ownership is part of the government and the public sector business environment.
<u>Explanation:</u>
Freedom of ownership or a sharing vision offers a number of opportunities in the business environment. It allows the government to control the costs, generate the economies of scale and bargain costs down internally.
The freedom of ownership permits access to complex, specialized skills that can not be sourced locally. So this allows the government sector or the public sector environment to run the business successfully and to run it efficiently.
Answer:
a. The value of shareholder's equity account for this firm is $16,600.
b. The net working capital for Wims Inc. is $1,500.
a. We start off by looking at the Accounting Identity:
Since
and
We can rewrite this accounting identity as follows:
----- (1)
Plugging in the values from the question in (1) above we get,
b. The formula for Net Working Capital is:
