Answer:
23.275 years
Explanation:
Given:
Present value or the amount invested = $ 300,000
Rate = 6% compounded quarterly
i.e the rate of return quarterly will be = 6% / 4 = 1.5%
Quarterly payment = $ 6,000
Annuity = $ 0
Now,
Present value of annuity = Part payment × (
)
where,
n is the number of quarters
on substituting the values in the formula, we get
$ 300,000 = $ 6000 × (
)
or
50 × 0.015 = (
)
or
= 1 - 0.75
or
4 = 
taking log both the sides
we get
log 4 = n × log 1.015
or
0.602 = n × 0.0064
or
n = 93.101 quarters
or
n = 93.101 / 4 = 23.275 years
Answer: A. $0
B. $500
C. $8,000
D. $0
Explanation:
A. $0.
The $25,000 is a cash gift from her parents which is a cash gift from relatives and so is not included in the AGI.
B. $500
The entire amount is included in her AGI as winnings from competitions are included in AGI calculations.
C. $8,000
Alimony payments are included in AGI calculations so the whole alimony figure is to be included.
D. $0
Cash inheritance is not to be included in AGI calculations for tax purposes so the entire figure of $100,000 should not be included.
Answer:
The attached file has the answer required.
Interest on notes payable will be a liability as it is accrued. It will still be accounted from the expenses however.
Services is a revenue stream that was not recorded so it will go to Accounts Receivable and Revenue.
Salaries unpaid will become a liability and an expense in the income statement.
