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2 years ago

Beachside Realty rents condominiums and furnishings. Below is the adjusted trial balance at December 31.

Business

1 answer:

Lana71 [14]2 years ago

5 0

Answer and Explanation:

The journal entry required to close the expense account is given below:

Income summary Dr $33,520

To Wages Expense $19,000

To Depreciation Expense $1,800

To Utilities Expense $320

To Insurance Expense $700

To Maintenance Expense $9,000

To Income Tax Expense $2,700

(being the expenses accounts are closed)

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Which of the following is not recommended for cooking fresh pasta

slava [35]

Answer:

Oil is not recommended for cooking fresh pasta

Explanation:

Oil is not recommended for cooking fresh pasta

Hope this helps

8 0

2 years ago

Read 2 more answers

Professor Bai is worried about his job security, and has started to venture into a new startup. Perhaps surprisingly, he is able

zvonat [6]

Answer:

Explanation:

Price is sum of:

1. Present value of expected dividend payments during 1-4 years;

2. Present value of the expected market price at the end of the fourth year based on growth at 5%.

Present value of expected dividend payments during 1-4 years:

PV1 = 3*(1+0.30)*0.8929 = 3.90*0.8929 = $3.482

*0.8929 = 1/1.12

PV2 = 3.90*1.30*0.7972 = 5.07*0.7972 = $4.042

PV3 = 5.07*1.30*0.7118 = 6.591*0.7118 = $4.691

PV4 = 6.591*1.30*0.6355 = 8.5683*0.6355 = $5.445

Total = $17.661

Present value of the expected market price at the end of the fourth year:

Market price of the share at the end = 5th year dividend/(Required rate of return - growth rate)

5th year dividend = $8.5683*(1+growth rate) = $8.5683*(1+0.05) = $9

Market price of the share at the end = $9/(0.12-0.05) = $128.57

Present value of $128.57 is 128.57*0.6355(present value interest factor for year 4) = $81.7

So the price of share is $17.661+$81.7 = $99.37

8 0

2 years ago

A random sample of 84 shoppers were interviewed and 51 said they prefer to shop alone rather than with someone else. let p repre

Dmitry [639]

The point estimate or p hat is a single value that shows the best estimation of a certain parameter among a population.

To calculate point estimate, we divide the parameter by the whole population.

In case of this problem:
p hat = 51/84 = 0.607

To get the percent, we multiply the output by 100:
% of point estimate = 0.607 x 100 = 60.7%

7 0

2 years ago

Find the principal P that must be invested at rate r, compounded monthly, so that $1,000,000 will be available for retirement in

astraxan [27]

Answer:

$224,174

Explanation:

Note : I have uploaded the full question below :

The Principle P that is required can be calculated from the given data though discounting future cash flows as follows :

FV = $1,000,000

r = 7½%

t = 20 × 12 = 240

P/yr = 12

Pmt = $0

PV = ?

Using a Financial Calculator to input the values as shown above, the PV would be $224,174 . Thus, the principal P that must be invested must be $224,174.

6 0

2 years ago

MC algo 3-13 Equity Multuiplier Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ i

Helga [31]

Answer:

The answer is Option D. 1.68 times

Explanation:

The formula for equity multiplier is:

Equity Multiplier = Total assets ÷ Total stockholder's equity

In 2017:

Total stockholder's equity = Common stock + Retained earnings

Total stockholder's equity = $2890 + $700 = $3590

Total assets = $6,015

Now, putting these values in the above formula, we get,

Equity multiplier = $6,015 ÷ $3,590 = 1.68 times

5 0

2 years ago