WAYS IN WHICH THE YOUTH CAN MANAGE STRESS

Allison and Leslie, who are twins, just received $50,000 each for their 21th birthdays. They both have aspirations to become mil

gizmo_the_mogwai [7]

Answer:

(a) 208.92years

(b) 188.67years

(c) $6000 ($650 larger than her initial annual contribution)

(d) It is irrational for Allison to invest in the bond fund

Explanation:

Allison and Leslie start annual contribution of $5,000 beginning a year from today (22nd birthday)

(a) Allison starts her investment at 22 in Safety First Bond Fund with returns of 7% per year

Annual total investment = 5000 + (5000 × 0.07) = 5000 + 350 = $5,350

Allison's age when she becomes a millionaire = 22 + (1,000,000/5,350) = (117,700 + 1,000,000)/5,350 = 1,117,700/5,350 = 208.92years

(b) Leslie starts her investment at 22 in New Issue Bio-Tech Fund with returns of 20% per year

Annual total investment = 5000 + (5000 × 0.2) = 5000 + 1000 = $6,000

Leslie's age when she becomes a millionaire = 22 + (1,000,000/6,000) = (132,000 + 1,000,000)/6,000 = 1,132,000/6,000 = 188.67years

(c) Allison's age when she becomes a millionaire is 208.92years

Her annual contributions to become a millionaire at the same age as Leslie = 1,000,000/(188.67 - 22) = 1,000,000/166.67 = $6,000

(d) It is irrational for Allison to invest in the bond fund rather than in stock because it will take longer time to achieve her aspiration to become a millionaire

7 0

3 years ago

Madeline is a research assistant for her favorite biology professor, Dr. Ogechi. Dr. Ogechi is interested in studying the effect

AlexFokin [52]

Answer:

D

B

Explanation:

ceteris paribus is a Latin phrase that means all other things being equal. It means that other variables are unchanged.

For example, according to the law of demand, all other things being equal, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

For this law to hold, it is assumed that consumers tastes do not change or income do not change. If the income of a consumer changes and prices increases, the consumer would be able to buy more of a good at the higher price.

In order to isolate the effects of one particular variable in the physics experiment, she has to make sure the incline is the same angle for each trial. If the incline is different, it might affect the results of the experiment

3 0

3 years ago

19. Fortuna Co. reports the following in its 2016 annual report: 2016 2015 2014 Sales $10,597,336 $10,265,536 $9,893,432 Account

kaheart [24]

Answer:

For Fortuna Co.

Account receivables turnover ratio = net credit sales during the year / average accounts receivable

2015 = $10,265,536 / [($1,052,112 + $1,141,906)/2] = 9.358
2016 = $10,597,336 / [($900,516 + $1,052,112)/2] = 10.854

Average collection period = 365 days / accounts receivables turnover ratio

2015 = 365 days / 9.358 = 39 days
2016 = 365 days / 10.854 = 33.63 days

Since the accounts receivable turnover ratio is higher for 2016, the average collection period will be shorter. This means that the company is collecting its outstanding credit faster in 2016 than 2015.

For Saturn, Inc.

Prepare general journal entries for the following transactions that occurred during the year:

(1) Wrote off N. Purcell’s account, $6,800.

Dr Allowance for doubtful accounts 6,800
Cr Accounts receivables 6,800

(2) Wrote off J. Stein’s account, $2,400.

Dr Allowance for doubtful accounts 2,400
Cr Accounts receivables 2,400

(3) J. Stein, who is in bankruptcy, paid $800 in final settlement of the account written off in transaction

first you must reverse the write off

Dr Accounts receivables 800
Cr Bad debt expense 800

now you record the collection of the settlement amount

Dr Cash 800
Cr Accounts receivables 800

(4) On December 31, estimated the year’s bad debts expense at 1% of credit sales.

balance for allowance for doubtful accounts = $8,000 - $6,800 - $2,400 = -$1,200 or $1,200 debit balance

total credit sales $1,200,000 x 1% (estimated bad debt) = $12,000 credit balance for allowance for doubtful accounts

the journal entry to record bad debt expense:

Dr Bad debt expense 13,200
Cr Allowance for doubtful accounts 13,200

5 0

3 years ago

Indicate the most useful scenario to use for each of these market baskets. Consumer Price Index: Examining price changes that mi

Helga [31]

Answer:

Consumer Price Index - Measuring the cost of living for a typical consumer.

The CPI is a measure of the change in price of a basket of goods and services most commonly bought by an average customer.

Producer Price Index - Examining price changes that might affect businesses.

The Producer Price Index measures the change in prices for raw materials that are used in the production process. This is an important price index to measure the costs associated with running a business in a specific area.

Home Price Index - Measuring differences in the cost of living between different cities.

The Home Price Index measures the changes in the price of residential units in different areas. This index is useful to measure the cost of living accross cities because the cost of renting and buying real estate is often the most significant cost of living for any city.

3 0

4 years ago

A customer of Landen Consulting Company makes a $400 payment of cash on a bill for services provided last month. Record this tra

Pavlova-9 [17]

Answer:

See answer below

Explanation:

In the books of Landen Consulting, the cash payment will be recorded as follows.

Debit Cash Account $400

Credit Account Receivables $400 (this would have been Revenue if the payment was made in the same month).

Since both accounts affected are assets account, the effect of the transaction on the accounting equation will be as follows.

Equity + Liabilities = Assets

Equity + Liabilities = Assets + Cash ($400) - Account Receivables ($400)

= Equity + Liabilities = Assets.

5 0

3 years ago

WAYS IN WHICH THE YOUTH CAN MANAGE STRESS​

WAYS IN WHICH THE YOUTH CAN MANAGE STRESS