Answer:
The requirement of the question is as below:
How much must Alan deposit on January 1? (Round your final answer to the nearest whole dollar amount.)
What is the interest for the four years? (Round your final answer to the nearest whole dollar amount.)
Alan deposit on January 1 is $ 58,802.39
Interest for four years is $21,197.61
Explanation:
The first is asking for today's worth of the investment,which is the amount to be invested,this can be computed using the present value as shown below:
PV=FV*(1+r)^-n
PV is the present value
FV is the worth of the investment in 4 years from now which is $80,000
r is the rate of return of 8%
n is the number of years of investment which is 4 years
PV=$80,000*(1+8%)^-4
PV=$80,0008(1+0.08)^-4
PV=$80,000*(1.08)^-4
PV =$ 58,802.39
interest for four years=FV-PV
interest for four years=$80,000-$ 58,802.39
=$21,197.61
Answer:
OD. A person who goes to earn a college degree will have to pay the full costs of going to college
Answer:
1. Inventory account will be affected and assertions of accuracy and valuation will be violated.
2. Assets are overstated and assertion classification is violated.
3. Liability is understated and assertions of accuracy is violated.
4. No impact.
Explanation:
Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.
Answer:
b. continuous budgeting
Explanation:
Continuous budgeting (sometimes referred to as rolling budgeting) involves continually adding an additional month to the end of a multi-period budget as each month goes by.
The continuous budgeting concept is usually applied to a twelve-month budget, so there is always a full year budget in place.
Answer:
3.46
Explanation:
Calculation for Campbell Co. fixed asset turnover ratio
First step is to find the Average net fixed assets
Using this formula
Average Fixed assets= Fixed assets Beginning balance +Fixed assets ending balance /2
Let plug in the formula
Average Fixed assets= $368,000 + $396,000/ 2
Average Fixed assets=$764,000/2
Average Fixed assets=$382,000
Second step is to calculate for the Fixed asset turnover
Using this formula
Fixed asset turnover = Net revenue ÷ Average net fixed assets
Let plug in the formula
Fixed asset turnover= $1,320,000 ÷ $382,000
Fixed asset turnover= 3.46
Therefore Campbell Co. fixed asset turnover ratio will be 3.46
