Answer:
FV= $137,440.62
Explanation:
Giving the following information:
Bob makes his first $ 800 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $ 800 deposit on his 39th birthday (16 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.4 % interest compounded annually until Iob retirees on his 65th birthday.
First, 16 years:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {800*[(1.074^16)-1]}/0,074= $23,067.90
Next 25 years.
FV= PV*(1+i)^n
FV= 23,067.90*(1.074)^25= $137,440.62
Answer:
budget sale revenue = $2,069,760
Explanation:
given data
beginning inventory = 3000
sell = 11000 units
sales = 12% increase
ending inventory = 25%
surfboard costs = $100
sold = $150
to find out
How much is budgeted sales revenue for the third quarter of 2016
solution
first we will get here budget sales unit for quarter 3 that is
budget sales unit = ( 11000 × 112% ) 112%
budget sales unit = $13798.4
and
selling price is here $150
so
budget sale revenue for 3rd quarter sale is = budget sales unit × selling price
budget sale revenue = $13798.4 × $150
budget sale revenue = $2,069,760
Answer:
True
Explanation:
The process model is a model that represents the work flow for achieving the company goals and objectives
In the process model, the effectiveness of an organization would be portrayed by the conflict that occurs internally. It could be the situation when the flow of the information is in a horizontal way and in a vertical way and the functioning of the operations internally is quite smooth and works with trust towards individuals
Therefore the given statement is true
Answer: False
Explanation:
Bankruptcy Trustees are usually lawyers and this is why people think that they must always be lawyers but this is not the case.
The United States Trustee who is an officer of the Department of Justice and the one in charge of appointing Bankruptcy Trustees, can appoint a person other than a licensed attorney to be the representative of an estate for bankruptcy related matters (trustee) such as accountants or financial planners.
Answer:
Dr retained earnings($21,600+$15,800) $37,400.00
Cr accumulated depreciation $21,600
Cr inventory $15,800
Explanation:
The errors that require adjustment are the overstatement and understatement of depreciation expense as well as the December 2021 overstatement of inventory.
The understatement of inventory in 2020 would have self-corrected itself in 2021 since closing inventory in 2020 deducted from costs of goods available for sale would be introduced as opening inventory in 2021.
net effect of depreciation=understatement -overstatement=$37,500-$15,900=$21,600.00
hence retained earnings would reduce by $21,600.00
for the overstatement of inventory,retained earnings would reduce by $15,800
