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3 years ago

What are the 4 questions to ask when you analyze a transaction into Debits & Credits

Business

1 answer:

Alex777 [14]3 years ago

3 0

1.which accounts are affected?

2.how is each account classified?

3.how is each classification changed

4.how is each amount entered in the account?

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An individual is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retire

Nutka1998 [239]

Answer:

Ans. He must save during each of the following 10 years, at the end of each year $32,452.

Explanation:

Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.

$PresentValue_{10} =\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }$

Where:

A= $65,156

n= 24

r= 0.08

Therefore the present value in year 10 is:

$PresentValue_{10} =\frac{65,156((1+0.08)^{24}-1) }{0.08(1+0.08)^{24} }=686,012$

So that is our present value in year 10, or to put it in other words, our future value (if we look at it from year 0). Now we need to find the annuity (amount to save) that with account for $686,012, plus that $100,000 that he already has saved.

Every should look like this.

$686,012=100,000*(1+0.08)^{10} +\frac{A((1+0.08)^{10}-1) }{0.08(1+0.08)^{10} }$

And we solve this equation for "A".

$686,012=A(14.4865625)+215,892$

$A=\frac{(686,012-215,892)}{14.4865625} =32,452$

Best of luck.

5 0

3 years ago

Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in

tia_tia [17]

Answer:

Date General Journal Debit Credit

Cash $15,400

Accumulated Depreciation $39,600

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $15,400 cash)

Cash $16,500

Accumulated Depreciation $39,600

Gain on sale $1,100

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $16,500 cash)

Cash $12,700

Accumulated Depreciation $39,600

Loss on sale $2,700

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $12,700 cash)

4 0

2 years ago

Liability in which a person cannot be held contractually liable on a negotiable instrument unless his or her signature appears o

Leto [7]

Answer: Signature liability

Explanation:

The signature liability is basically associate with the negotiable instruction as the people are not contractually liable only the signature person has the liability for the payment based on the specific amount.

The signature liability is basically refers to the signature on the negotiable instrument that is used for identifying the main person who ar obligated for paying. Therefore, Signature liability is the correct answer.

8 0

3 years ago

The Marketing Department has proposed increasing the West Division's monthly advertising by $15,000 based on the belief that it

kramer

Answer:

Net Increase in profit is $27,000

Explanation:

* The data was missing in this question, a similar question is attached with the answer, and answer is made accordingly. Please find it.

Sales ( $350,000 x 120% ) = $420,000

- Variable cost ( 40% ) = $168,000

- Traceable fixed cost( 175000+15000) = <u>$190,000</u>

Net Profit = $62,000

Net Increase in Net Income = $62,000 - ( 350,000 - (350,000 x 40%) - 175,000 ) = 27,000

6 0

3 years ago

You intend to become certified as a computer technician over the summer. Where should you list that information?

Maksim231197 [3]

I know im very very late but the correct answer for this question would be C as it is the most logical.

6 0

3 years ago

Read 2 more answers