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Anni [7]
2 years ago
8

You deposit $1,800 at the end of each year into an account paying 10.6 percent interest.

Business
1 answer:
MAVERICK [17]2 years ago
6 0

Answer:

4852.80

Explanation:

1800×10.6%= 190.80 / year

190.80 × 16 years = 3052.80

3052.80 + 1800=

4852.80

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Practice Makes Perfect Inc. was started on July 1 of the current year. Practice Makes Perfect provides piano lessons for student
Natalka [10]

Answer:

I used an excel spreadsheet to record this transactions on an accounting equation.  

Practice Makes Perfect, Inc.

Income Statement

For the month ended July 31, 202x

Revenues                                               $2,000

Expenses:

  • Advertising expense $500
  • Rent expense $1,000
  • Wages expense $1,000
  • Supplies expense $300
  • Depreciation expense $750
  • Interest expense $417                 <u> ($3,967)</u>

Net income                                             ($1,967)

Practice Makes Perfect, Inc.

Balance Sheet

For the month ended July 31, 202x

Assets:

  • Cash $99,783
  • Accounts receivables $1,800
  • Supplies $1,700
  • Pianos $47,250

Total assets                                         $150,533

Liabilities:

  • Accounts payable $2,500
  • Notes payable $50,000

Total liabilities                                      $52,500

Stockholders' equity

  • Common stock $100,000
  • Retained earnings ($1,967)

Total stockholders' equity                  $98,033

Total liabilities + equity                      $150,533        

Download pdf
6 0
3 years ago
A company uses the cost method of accounting for treasury stock. On January 1, the company repurchases 1,000 shares of stock at
Ksivusya [100]

Answer:

The credit on December 31 is to credit Treasury Stock with $15,000.

Explanation:

There are two methods for accounting for Treasury Stock.  The first is the par value method.  With this method, the Treasury Stock account is debited or credited with the par value for each transaction, while the difference in par value is taken to the Additional Paid-in Capital account.

Using the cost method, the Treasury Stock account is debited and credited with the value of each transaction and the Additional Paid-in Capital account is not affected.

This implies that under the cost method, the purchase and resale of treasury stock is recorded by debiting and crediting the treasury stock account by the actual cost of purchase and actual value of sale.

3 0
3 years ago
Which is of the following is NOT an example of a non profit organization?
OLga [1]
D) all of the answers
6 0
3 years ago
Rhonda is a procurement officer for the government and needs to hire a new plumbing company that she could pay a fixed price per
ella [17]

Answer:

comparative cost pricing

Explanation:

In comparative cost pricing strategy different prices charged by different seller is presented to buyer. The buyer has freedom to choose any price option based on comparative analysis of price.  

In the question given above plumbing firms have given their prices to Rhonda and she chose lowest price which can be explained by comparative cost pricing.

8 0
3 years ago
"Bennett Co. has a potential new project that is expected to generate annual revenues of $247,700, with variable costs of $137,6
Nostrana [21]

Answer:

$40,960

Explanation:

The computation of the operating cash flow is shown below;

As we know that

Annual Operating Cash Flow is

= EBIT × (1 - Tax Rate) + Depreciation Expenses

Here,

Earnings Before Interest & Tax [EBIT] = Revenues - Variable Cost - Fixed Costs - Depreciation Expenses

= $247,700 - $137,600 - $56,500 - $22,000

= $31,600

Now

Annual Operating Cash Flow = EBIT × (1 - Tax Rate) + Depreciation Expenses

= $31,600 × (1 - 0.40) + $22,000

= [$31,600 × 0.60] + $22,000

= $18,960 + 22,000

= $40,960

5 0
3 years ago
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