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3 years ago

For Accounting, I need help knowing how to journalize the following transaction:

Business

1 answer:

Soloha48 [4]3 years ago

6 0

Answer:

SI PAPIIIII

ExplanatioLOLn:

TE AMO

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g Bob estimates when he retires in 20 years, he will need to have $2,000,000 to finance his desired retirement lifestyle. He bel

Licemer1 [7]

Answer:

Bob will need to contribute $43,704.39

at the end of each period to reach the future value of $2,000,000.00.

Explanation:

a) Data and Calculations:

Period when Bob estimates to retire = 20 years

Desired Future retirement funds = $2,000,000

Average inflation rate over time = 2%

Retirement investment returns = 6%

Expected interest rate = 8% compounded annually (6 + 2)%

Using an online finance calculator,

Bob will need to contribute $43,704.39 at the end of each period to reach the future value of $2,000,000.00.

FV (Future Value) $1,999,998.68

PV (Present Value) $429,096.13

N (Number of Periods) 20.000

I/Y (Interest Rate) 8.000%

PMT (Periodic Payment) $43,704.39

Starting Investment $0.00

Total Principal $874,087.78

Total Interest $1,125,910.9

5 0

4 years ago

Lyle founded a salsa manufacturing plant in his hometown of El Paso, Texas. Sales have been good, and demand for his products ha

Bumek [7]

Answer:

broker

Explanation:

Based on the information provided about Tim it seems that Tim's description shows that he is most likely a broker. This term refers to an individual that arranges specific transactions, usually between a buyer and a seller. Which in this situation it seems that he has brokered a lot of deals with people in the food industry which is why he has a lot of connections in this market and is able to help Lyle find buyers for his salsa.

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4 years ago

Isaac Inc. began operations in January 2021. For some property sales, Isaac recognizes income in the period of sale for financia

lesya [120]

Answer:

$109,750,000

Explanation:

Note: <em>Options provided in the question belong to similar question but different numbers</em>

Deferred Tax liability = (Revenue from specific sales in 2021 - Cash received against it up to 2022) * Tax rate

Deferred Tax liability = ($621 million - $61 million - $121 million) * 25%

Deferred Tax liability = $439 million * 25%

Deferred Tax liability = $109,750,000

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3 years ago

Multiple Product Planning with Taxes

PilotLPTM [1.2K]

I have a feeling its B or D.. not so sure (:

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4 years ago

A commercial bank sells a treasury bond to the federal reserve for $100,000. (assume that all proceeds from this bond sale are l

Nitella [24]

Answer : Increases by $100,000.

The Federal Open Market Committee (FOMC) determines the money supply in an economy through open market operations.

The FMOC uses instruments like Treasury Bills, Treasury Bonds and notes for open market operations. If FOMC wants to increase money supply, it will purchase securities from banks. This increases the amount of funds with the bank. The bank can use these funds for lending.

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4 years ago