Answer:
$0.316 trillion per annum
Explanation
According to the scenario, computation of the given data are as follow:-
Interest rate = 0.5% = 0.005
Government Borrows = $6 trillion
Time = 20 years
Required Uniform Annual Payment= Government Borrows × Interest Rate × [(1 + Interest Rate)^Time period ÷ (1 + Interest Rate)Time period] - 1
= $6 trillion × 0.005 × [(1 + 0.005)^20 ÷ (1 + 0.005)^20 - 1]
= $0.03 trillion × [(1.005)^20 ÷ (1.005)^20 - 1]
= $0.03 trillion × (1.1049 ÷ 1.1049 - 1)
= $0.03 trillion × (1.1049 ÷ 0.1049)
= $0.03 trillion × 10.533
= $0.316 trillion per annum
Answer and Explanation:
The journal entries are shown below:
a. On Jan 31
Warranty expense Dr ($173,000 × 6%) $10,380
To Product Warranty payable $10,380
(Being the warranty expense is recorded)
For recording this we debited the warranty expense as it increased the expenses and credited the product warranty payable as it also increased the liabilities
b. On Aug 15
Product Warranty payable $397
To Supplies $230
To wages payable $167
(Being the product warranty payable is recorded)
For recording this we debited the product warranty payable as it decreased the liabilities and the supplies and wages payable is credited as it decreased the assets and increased the liabilities
Answer:
$18,330
Explanation:
For translation of income statement items such net income, the applicable rate is the average rate.
Since the average rate being is $1.41 / Euro, we have:
Value of income in home currency = 13,000 euro * $1.41 = $18,330.
Answer:
Explanation:
Commercial business segment contribution margin = Sales- Variable expenses = 280,000- 143,000 = $137,000
So the answer is C
Answer:
By finding a factor that all have in common: that they are currently in the company and know how it works.
Explanation:
The manual that employees will have aboutthe new accounting system has to be the easiest to ready as possible. As the text mentions, in the company I have experienced accountants and others that are not and employees from different degree levels. Some might understand certain infromation and some might not.
However, what they all have in common is that they are all working in the company and know the current accounting system, because is something that concerns them, even though they have years working them, are new or are not going to last longer.
The best I can do is take advantage of that fact and show them the differences between the old accounting system with the new ones, by that way they will be able to land the information and understand it correctly.
