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AVprozaik [17]
3 years ago
15

Robert became quite well-to-do as founder and president of Carlson Auto Paint and Supply, Inc. (CAPS). Now, he wants to start a

permanent fund to support research directed toward improved sustainability of painted surfaces at his alma mater. He plans to contribute money now so that $200,000 per year can be withdrawn each year forever, beginning in year 7. If the fund earns interest at a rate of 8% per year, how much money must be donated now
Business
1 answer:
lesya692 [45]3 years ago
3 0

Answer:

The answer is "1475,000".

Explanation:

Given:

n=6\ year \ \ \                        \text{because it start with 7 beginning year}  \\\\r=8\% = 0.08\\\\P= \$ 200,000

calculating the 6-year future value:

= \frac{\$200,000}{0.08} \\\\= \$2,500,000

Using formula:

\bold{PV=FV(1+r)^{-n}}

      =\$2,500,000(1+0.08)^{-7} \\\\  =\$2,500,000(0.59)\\\\=\$1475,000

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Before prorating the manufacturing overhead costs at the end of 2020, the Cost of Goods Sold and Finished Goods Inventory accoun
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Answer:

$2069

Explanation:

Given

Applied overhead costs of Goods sold = $59,300

Applied overhead cost of finished goods = $38,000

Overhead Balance = $97,300

Overhead Cost = $92,000

Overapplied Overhead = Overhead Balance - Overhead Cost

Overapplied Overhead = $97,300 - $92,000

Overapplied Overhead = $5,300

Allocated Amount = (Applied Overhead * Finished Goods /(Overapplied Overhead)

Allocated Amount = ($5,300 * $38,000) ($59,300 + $38,000)

Allocated Amount = ($5,300 * 38,000) (97,300)

Allocated Amount = $2069

5 0
4 years ago
Read 2 more answers
Testbank Multiple Choice Question 122 On January 1, 2012, Bramble Corp. purchased for $768000, equipment having a useful life of
-BARSIC- [3]

Answer: $28,300

Explanation:

The gain that Bramble will recognize will goes thus:

First and foremost, we have to calculate the accumulated depreciation on the equipment and this will be:

= (768,000 - 36,000)/10 x 9

= 658,800

After that, we would find the value of the net Bmbook value on Dec 31, 2020 and this will be:

= 768,000 - 658,800

= 109,200

The gain will then be:

= Sales value - Net book value

= 137,500 - 109,200

= 28,300

7 0
3 years ago
Exercise 4-8 (part level submission) plevin company ended its fiscal year on july 31, 2017. the company’s adjusted trial balance
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            Service Revenue.................................65000

            Rent Revenue..........................................6000

              To Income Summary.....................................................71000


             Income Summary..........................78900

                  To Depreciation Expense..............................................7000

                  To Salaries Expense.......................................................56400

                   To Utilitites Expense.........................................................15500

Retained Earnings.....................................................................7900

      To Income Summary...............................................................................7900

6 0
4 years ago
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Dr. Osorno was served with a malpractice lawsuit based on allegedly removing the wrong organ. Following discovery, it becomes cl
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Answer:

Correct option is A.

<u>The lawyer should make a motion for summary judgement</u>

Explanation:

A movement for rundown judgement is Sled offer the disclosure procedure attesting that no truthful debates exist and that if the appointed authority applied the law to the undisputed realities, her solitary sensible choice would be agreeable to the moving party.

6 0
3 years ago
A progressive income tax, which is a tax where the marginal tax rate increases as income rises, was passed under which president
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Answer: C. Franklin D. Roosevelt.

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