Answer:
Rent expense of $2,000
Prepaid rent of $22,000
Explanation:
Since we were told that On November 1,2019 Movers Inc., paid the amount of $24,000 for a 2 years' rent which will start or begin on November 1 which means Movers' year-end financial statements as of December 31,2019 will show:
Rent expense of $2,000
Prepaid rent of $22,000
The rent expense of $2,000 is calculated as
(1÷12*$24,000)=$2,000
The prepaid rent of $22,000 is calculated as
$24,000-$2,000
$22,000
Answer:
A. socialist elements in the US Economy
Explanation:
Socialism is shared costs and shared resources. While the US economy is not socialistic, it does have elements of socialism through certain government programs.
D. Yoga
The only equipment required is a yoga mat, which is cheaper than all of the equipment required for the rest of the sports.
Answer:
(29,800)
Explanation:
The computation of the financial advantage or disadvantage is shown below:
As we know that
Financial disadvantage = Cost of making - Cost of buying
where,
Cost of making is
= [(Direct material per unit + direct labor per unit + variable manufacturing overhead per unit) × units produced] + additional segment margin
= [($4.7 + $9.30 + $9.80 + $5.20) × 22,000 units] + $34,000
= ($29 × 22,000 units ) + $34,000
= $672,000
And, the Cost of buying is
= Units produced × offered price
= 22,000 units × $31.90
= $701,800
So,
Financial disadvantage is
= Cost of making - Cost of buying
= $672,000 - $701,800
= (29,800)
Answer:
FV $2,014,064.29
Explanation:
The first seven years are spended entirely, so are not into the calculation.
Then we will calculate the future value of an annuity of 100,000 for 13 years at 7% interest rate.
The formula will be:
Where:
C 100,000
time 13
rate 0.07
We solve and got:
FV $2,014,064.29
This is the amount after 20 years, saving the last 13 years
