Answer:
The minimum number of years that Lloyd must remain a member of the ADLA so that the lifetime membership is cheaper (on a present value basis) than paying the annual membership dues is 23 years.
Explanation:
The question is incomplete.
<em>Lloyd is a divorce attorney who practices law in Florida. He wants to join the American Divorce Lawyers Association (ADLA), a professional organization for divorce attorneys. The membership dues for the ADLA are $600 per year and must be paid at the beginning of each year. For instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also has an option for members to buy a lifetime membership today for $6,500 and never have to pay annual membership dues. Obviously, the lifetime membership isn't a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, it's a great deal. Suppose that the appropriate annual interest rate is 7.4%. What is the minimum number of years that Lloyd must remain a member of the ADLA so that the lifetime membership is cheaper (on a present value basis) than paying $600 in annual membership dues?</em>
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We have to equal the price of the lifetime membership with the present value of the annual membership. The anual membership present value is equal to a annuityof n years.
Answer:
personal finance and Financial literacy gives an advantage to exploit the financial products available nowadays and to manage the resources of a single person or a family in the best way possible to achieve their goals.
Answer:
Wayman Corporation
Income Statement for the year ended December 31, 2021
Sales Revenue $460,000
Cost of Goods Sold ($140,000)
Gross Profit $320,000
Operating Expenses
Advertising Expense $40,000
Salaries Expense $50,000
Utilities Expense $60,000
Total operating expense ($150,000)
Operating Income $170,000
Interest Expense ($30,000)
EBT $140,000
Income tax expense ($60,000)
Net Income $80,000
Answer:
They might not be bothered because nothing has happened yet.
Explanation:
The other 25 percent might not use it a lot.
Answer:
$380,900
Explanation:
We know that
Cost of goods sold = Opening inventory + Purchase - ending inventory
where,
The cost of goods sold is $349,700
Since the inventory is increased the difference between the opening and ending inventory would be $25,000
So, the purchase amount would be
= $349,700 + $25,000
= $374,700
And,
The cash payment to supplier = Beginning Account payable + Purchase - Ending account payable
Since the account payable is decreased the difference between the opening and ending inventory would be $6,200
So, the cash payment would be
= $6,200 + $374,700
= $380,900