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lara [203]
2 years ago
11

You just won the lottery, which promises you $260,000 per year for the next 20 years, starting today (annuity due). If your disc

ount rate is 7%, what is the present value of your winnings?
Business
1 answer:
Gekata [30.6K]2 years ago
4 0

Answer:

the present value of your winnings will be $2,947,254.76.

Explanation:

The Present Value, PV of the Annuity due can be calculated as follows :

Pmt = $260,000

P/yr = 1

n = 20

r = 7%

Fv = $0

Pv = ?

Using a financial Calculator, the Present Value, PV of the Annuity due is $2,947,254.76

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A large account previously written off in a prior year was unexpectedly collected in the current year. as a result, the current
spin [16.1K]

In the given case the accounts were previously written off by debiting the Allowance for doubtful debts accounts now in order to revive these accounts receivable, we should Debit the Accounts Receivable and credit the Allowance for doubtful debts accounts. Hence the account to be credited is Allowance for doubtful debts accounts.

Hence the answer shall be Allowance for doubtful debts accounts


6 0
3 years ago
As of December 31, Plush has not recorded any insurance expense for the year. The only insurance policy it owns is the one purch
konstantin123 [22]

Answer:

Debit Insurance expense    $10,000

Credit Prepaid Insurance    $10,000

Being entries to recognize insurance expense for the period (August to December).

Explanation:

Given;

Insurance policy was purchased on July 10 to run for 3 years.

Cost of policy = $72,000

Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)

Monthly depreciation = $72,000/(3 × 12)

                                    = $2,000

Total amortization between August and December = 5 × $2,000

                                                                                      = $10,000

Journal entries

Debit Insurance expense    $10,000

Credit Prepaid Insurance    $10,000

Being entries to recognize insurance expense for the period (August to December).

7 0
3 years ago
Mulally's use of "the way forward," which involved closing and modernizing plants, implementing data
murzikaleks [220]

The actions of Mulally in doing the above can be said to be part of his <u>Strategy </u>for <u>Ford</u>.

<h3>Actions by John Mulally.</h3>
  • Were done to turn Ford Motors around so that it would be successful again.
  • Involved closing down plants and increasing labor productivity.

John Mulally was the CEO of Ford Motors and when he took over, Ford needed a turnaround in their fortunes. He engineered a series of changes to ensure that Ford would be competitive again.

In conclusion, this was his strategy.

Find out more on labor productivity at brainly.com/question/6430277.

4 0
2 years ago
Which option is an example of labor as a factor of production?
dolphi86 [110]

Answer:A

Explanation:

8 0
2 years ago
Read 2 more answers
he Foundational 15 [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed belo
Sunny_sXe [5.5K]

Answer:

Total product cost= $150,000

Explanation:

Giving the following information:

10,000 units:

Direct materials $ 6.00

Direct labor $ 3.50

Variable manufacturing overhead $ 1.50

Fixed manufacturing overhead $ 4.00

<u>The product cost is the sum of direct material, direct labor, and total overhead. </u>

First, we need to calculate the total fixed overhead:

Fixed overhead= 4*10,000= $40,000

Now, the total product cost:

Total product cost= 10,000*(6 + 3.5 + 1.5) + 40,000

Total product cost= $150,000

3 0
3 years ago
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