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nikklg [1K]
3 years ago
7

Winston Enterprises would like to buy some additional land and build a new factory. The anticipated total cost is $175.86 millio

n. The owner of the firm is quite conservative and will only do this when the company has sufficient funds to pay cash for the entire expansion project. Management has decided to save $670,000 a month for this purpose. The firm earns 6 percent compounded monthly on the funds it saves. How long does the company have to wait before expanding its operations
Business
1 answer:
Degger [83]3 years ago
7 0

Answer:

the time period is 168.07 months

Explanation:

The computation of the time period is shown below:

Given that

RATE = 6% ÷ 12 = 0.5%

PMT = $670,000

FV = $175,860,000

PV = $0

The formula is shown below:

= NPER(RATE;PMT;-PV;FV;TYPE)

After applying the above formula, the time period is 168.07 months

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Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $18,600. The bank reconciliation for the period showe
gayaneshka [121]

Answer:

Option B $17,285 is correct the answer.

Explanation:

<u>Computation Table                       </u>

<u>Particular                         Amount</u>

Ending balance        $18,600

Add: Deposit in transit $1,550

Less: Outstanding  $2,100

Add: NSF check         $800

Add: Bank  charges $35

<u>Less</u><u>: EFT                 $1,600 </u>

<u>Cash balance          $17285 </u>

<u></u>

3 0
3 years ago
Market researchers often compute the “mean” or average of data collected. Wha is the mean income of the following three people s
zheka24 [161]

Answer: The mean income of the three people surveyed is $33,000.

The mean or average of a data set is nothing but the sum total of all the observations in a given set of data divided by the number of observations.

The formula for calculating the mean is:

\mathbf{\overline{X} = \frac{X_{1}+X_{2}+X_{3}.....+X_{n}}{N} }

where

\overline{X} is the mean or average

X₁ , X₂, X₃ .......Xn refers to the observations

N is the total number of observations

Substituting the values in the formula for mean we get,

\mathbf{\overline{X} = \frac{34000+44000+21000}{3}}

\mathbf{\overline{X} = \frac{99000}{3}}

\mathbf{\overline{X} = 33,000}






7 0
3 years ago
Electronic résumés have an attractive, highly formatted appearance. T F​
MAXImum [283]

Answer:

False.

Explanation:

False.

8 0
2 years ago
Read 2 more answers
Temple Square Inc. reported that its retained earnings for 2005 were $490,000. In its 2006 financial statements, it reported $60
V125BC [204]

Answer:

Dividend = $40,000

Explanation:

Given:

Temple Square Inc. reported that its retained earnings for 2005 were $490,000.

In its 2006 financial statements, it reported $60,000 of net income,

It ended 2006 with $510,000 of retained earnings. ( Ending retained earnings )

Question asked:

How much were paid as dividends to shareholders during 2006 ?

Solution:

Here given that Temple Square Inc. reported that its retained earnings for 2005 were $490,000, means this amount will carry forward and will be considered as Beginning retained earnings for 2006.

Now, we have to find, how much dividends were paid to shareholders during 2006.

As we know:

Ending retained earnings = Beginning retained earnings + Net income - Dividend

510,000 = 490,000 + 60,000 - Dividend

510,000 = 550,000 -  Dividend

Subtracting both sides by 550,000

- 40,000 = -  Dividend

Adding both sides by minus ( - )

Dividend = $40,000

Therefore, Temple Square Inc. paid $40,000 to shareholders during 2006.

3 0
3 years ago
Job 243 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 51,870 Direct la
Virty [35]

Answer:

$19.20

Explanation:

Computation for the unit product cost that would appear on the job cost sheet for this job.

First step is to compute the Total Product cost

Job 243

Direct material $ 51,870

Direct labor (435*11) 4,785

Overhead (516*13) 6,708

Total Product cost $63,363

Now let Compute the unit product cost

Unit product cost=$63,363/3,300 units

Unit product cost =$19.20

Therefore the unit product cost that would appear on the job cost sheet for this job is $19.20

8 0
2 years ago
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