34,944 ÷ 12 = 2,912
He earned $2,912 a month which would add up to his year salary being $34,944
Answer:
$475,000
Explanation:
Calculation for By what amount would LBM credit capital in excess of par
Dr Cash $500,000
(25,000 shares*$20 per share)
Cr Common Stock $25,000
(25,000 shares*$1 per share)
Cr Capital in excess of par $475,000
($500,000-$25,000)
Therefore based on the above Journal entry and calculation the amount that LBM would credit as capital in excess of par will be $475,000 ($500,000-$25,000).
Answer:
$950
Explanation:
Reserve ratio is defined as the percentage amount of deposit that a bank is instructed by the governing central bank to keep as cash reserve. This is used to control the money supply in the economy as the the check - able amount that are subjected to withdrawal is limited to the funds available after the reserve ratio has been considered.
Workings
New deposit - $10,000
Required reserve ratio - 5%
No existing excess ratio as at the time of deposit.
Reserve ratio - 5%*10000 = 50
Increase in checking account = 1000-50
= $950
Answer and Explanation:
The computation is shown below:
We use the formula that is given below:
Invested amount = $1,000,000 present value
Present value = 1 ÷ (1 + rate of interest)^number of years
a.
The amount invested is
= $1,000,000 ÷ (1.1104)^45
= $8,983.07
b,
The amount invested is
= $1,000,000 ÷ (1.0552)^45
= $89,111.71
Answer: Incomplete question.
Match the following terms to there definition.
Explanation:
1. Tells whether a company can pay all its current liabilities if they become due immediately - Quick Ratio
2. Measures a company's success in using assets to earn income - Return on Assets
3. The practice of comparing a company with other companies that are similar - Benchmarking
4. Indicates how rapidly inventory is sold - Inventory turnover
5. Shows the proportion of a company's assets that is financed with debt - Debit Ratio
6. Tells the percentage of a stock's market value that the company returns to stockholders annually as dividends - Dividend Yield
7. Measures a business's ability to pay interest on its debt - Interest coverage ratio
8. Measures a company's ability to collect cash from credit customers -
Account Receivable Turnover
