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lukranit [14]
3 years ago
15

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00. During these years of part

-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 75.0 when he fully retires, he will wants to have $2,552,589.00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be
Business
1 answer:
slavikrds [6]3 years ago
5 0
Pension plans are a type of retirement plan in which the employee and employer make contributions. These contributions are invested and to be received upon retirement. In most all cases pension plans are tax exempt. The two types of pension plans are defined benefit plans and defined contribution plans. A defined benefit plan guarantees an amount upon retirement no matter how the investment performed. A defined contribution plan is not a guaranteed amount and heavily depends on the investment performance.
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Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $30,5
DIA [1.3K]

Answer:

$38,500

Explanation:

Sheridan's ending cash balance can be calculated as;

= Beginning cash balance + cash provided by operating activities + cash provided by financing activities - cash used by investing activities

= $5,500 + $30,500 + $13,500 - $11,000

= $38,500

Therefore, the ending cash balance is $38,500

6 0
2 years ago
. Jeff works as a computer repair technician. He has money in a savings account and he owns some stock. What types of income doe
Alex17521 [72]
I think the correct answer from the choices listed above is the last option. H<span>e earns a salary from his work, interest on his savings account, and dividends on his stock holdings. Hope this answers the question. Have a nice day.</span>
5 0
3 years ago
Mexico cuenta con apoyos suficientes para promover el comercio internacional ?
Doss [256]

No Habla Espanol e tu?

7 0
3 years ago
On January​ 1, 2018,​ Jordan, Inc. acquired a machine for $ 1,000,000. The estimated useful life of the asset is five years. Res
klemol [59]

Answer:

Annual depreciation=$188,000

Explanation:

Giving the following information:

Purchasing price= $1,000,000

Salvage value= $60,000

Useful life= 5 years

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,000,000 - 60,000)/5

Annual depreciation=$188,000

6 0
3 years ago
How much manufacturing overhead was incurred during the​ year? Is manufacturing overhead underallocated or overallocated at the
professor190 [17]

Answer:

1. Overhead incurred during the year;

= Depreciation on manufacturing plant and equipment + Property taxes on plant + Plant Janitors wages

= 485,000 + 19,000 + 9,500

= $513,500

2. The under or over allocation depends on how much manufacturing overhead was allocated to jobs for the year.

= Actual machine hours * Overhead rate

Overhead rate = Manufacturing overhead cost / Allocated Machine hours

= 570,000 / 71,250

= $8

Allocated Manufacturing Overhead = 57,000 * 8

= $456,000

The allocated manufacturing overhead is more than the actual overhead. This means that it is Underallocated and the company did not budget enough for the overheads.

Underallocation = 513,500 - 456,000

= $57,500

6 0
3 years ago
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