a citation is issued for violations that are such citations carry fines ranging from $100 to $500. the DBPR may issue a notice of noncompliance as a first response to a minor violation.
Answer:
1- Cash (Dr.) $ 47,000
Computer (Dr.) $ 40,000
Common Stock (Cr.) $ 87,000
2- Rent Expense (Dr.) $2,200
Cash (Cr.) $2,200
3- Office Supplies (Dr.) $2,000
Cash (Cr.) $2,000
10- Prepaid Insurance (Dr.) $2,200
Cash (Cr.) $2,200
14- Salaries Payable (Dr.) $14,000
Cash (Cr.) $14,000
24- Cash (Dr.) $14,000
Commission from Airline (Cr.) $14,000
28- Salaries Payable (Dr.) $1,300
Cash (Cr.) $1,300
29- Computer Repair Expense (Dr.) $300
Cash (Cr.) $300
30- Telephone Bill Expense (Dr.) $1,100
Cash (Cr.) $1,100
30- Dividend Payable (Dr.) $2,000
Cash (Cr.) $2,000
Explanation:
The company has incurred business transactions which are recorded in the system as journal entries. These entries are then posted to create ledgers which shows the summarize form of all the transactions. These ledger then create trial balance which displays complete account balances of all the transactions separately.
Answer:
Equal annual contributions to the college savings account over the next 18 years is : $4,745.6
Explanation:
Suppose the time the child was born is the Beginning of Year 0 (Y0). So, 18 equal contributions need to be made at the beginning of each year from Y0 to Year 17. Denote these cash flow as Annuity 1 which equal: ( C/ 2%) x ( 1.02^18 -1) = 21.4123 x C with C is the equal annual contribution
The tuition fee starting from the beginning of Year 18 end at the Beginning of Year 21 is a growing annuity at 2.5% growth rate. The Value of this annuity ( Annuity 2) discounted to the Beginning of Year 17 calculated as followed:
(28,000 / (2% - 2.5% ) x ( 1 - [( 1+2.5%)/(1+2%)]^4 ) = $110,614
To save enough for college fee, The future value of Annuity 2 must equal the present value of Annuity 2 calculated above.
Thus, we have: 21.4123 x C = 110,614 <=> C = $4,745.6
Answer:
ASSETS = LIABILITIES + EQUITY
<u>cash</u> <u>supplies</u> <u>equip.</u> <u>land</u> = <u>acc. payable common stock</u>
19,000 19,000
-1,500 1,500
12,000 12,000
400 400
<u>-11,000 11,000 </u>
6,500 1,900 12,000 11,000 = 400 31,000
Explanation:
Dr cash 19,000
Cr common stock 19,000
Dr supplies 1,500
Cr cash 1,500
Dr equipment 12,000
Cr common stock 12,000
Dr supplies 400
Cr accounts payable 400
Dr land 11,000
Cr cash 11,000
Answer:
Explanation:
Terminal or horizon date is a point in time where a company's dividend experiences a constant growth rate.
In this case, it is mentioned that non-constant growth rate of 20% will happen for first two years and thereafter, a constant rate of 5%; this means that
D1= 1.25(1.20) =1.5
D2 = 1.5 (1.20)= 1.8
Then starting at D3, there's a constant growth rate = 5% so,
D3 = 1.8 (1.05)= 1.89
D4 = 1.89(1.05)= 1.9845
D5 = 1.9845 (1.05) = 2.0837
.....and so on
Therefore, the horizon date would be at the end of the second year i.e. End of Year 2.
