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2 years ago

You want to be a millionaire when you retire in 40 years.

Business

1 answer:

Sedaia [141]2 years ago

7 0

Answer:

a. FV = $1,000,000

rate = 9.7%

n = 40 periods

FVIFA = [(1 + 0.097)⁴⁰ - 1] / 0.097 = 407.9960231

annual savings = $1,000,000 / 407.9960231 = $2,451.00

b. FV = $1,000,000

rate = 9.7%

n = 30 periods

FVIFA = [(1 + 0.097)³⁰ - 1] / 0.097 = 155.4306295

annual savings = $1,000,000 / 155.4306295 = $6,433.74

FV = $1,000,000

rate = 9.7%

n = 20 periods

FVIFA = [(1 + 0.097)²⁰ - 1] / 0.097 = 55.35978429

annual savings = $1,000,000 / 55.35978429 = $18,063.65

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Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system a

anzhelika [568]

Answer:

April 2

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Payment of Shipping Costs included in the Invoice

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April 21

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Explanation:

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However the rest of the journals and their narrations have been prepared. This will help with completing the rest of the transactions.

See journals above.

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3 years ago

If an organization is committed to ethical business conduct that commitment should remain constant

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3 years ago

Mariah Company has inventory at the end of the year with a historical cost of $ 91 comma 000. Mariah Company uses the perpetual

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Answer:

Dr. Inventory Write down............(91,000 - 71,600)....$19,400

Cr. Inventory.......................................................................................$19,400

Explanation:

The write down of the inventory value from at the end of the year with a historical cost of $ 91,000 to the current replacement cost is $ 71,600 will be recorded as follows:

Journal Entries

Dr. Inventory Write down............(91,000 - 71,600)....$19,400

Cr. Inventory.......................................................................................$19,400

Being the write down of the value of inventory from historical cost to replacement cost at year end

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3 years ago

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Answer:

B) systematic risk

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Systematic risk is unavoidable and may be difficult to predict. Other examples include increase in long term interest rates, recessions or wars. Additionally, Investors are only compensated for systematic risk and not for diversifiable risk.

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