Answer:
Future Value is $35776.902
Explanation:
Given data
saving = $2000
rate = 7 % = 0.07
time = 12 year
to find out
Future Value?
solution
we will apply here future value formula that is
Future Value = saving × (1 + rate)^time - 1 / rate
put all value here and we get
Future Value =2000 × (1 + 0.07)^12 - 1 / 0.07
Future Value = 2000 × 17.888451
Future Value is $35776.902
If Power industries has acquired a patent for $16,000. its useful life is expected to be four years. The yearly journal entry to recognize periodic amortization is: Debit Amortization Expense - Patents $4,000; Credit Patents $4,000.
<h3>Journal entry </h3>
If the company has acquired a patent for the amount of $16,000 in which the useful life is expected to be four years. The appropriate journal entry to recognize periodic amortization is:
Power industries journal entry
Debit Amortization Expense - Patents $4,000
Credit Patents $4,000
($16,000/4 years)
(To record periodic amortization recognized)
Therefore the yearly journal entry to recognize periodic amortization is: Debit Amortization Expense - Patents $4,000; Credit Patents $4,000.
Learn more about Journal entry here:brainly.com/question/14279491
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Practically speaking, both of them are correct. Technician A who uses an oxy-acetylene torch to remove oil galley plugs would spend more time than Technician B (assuming he uses a drill with appropriate drill bit size). Technician A would induce heat via the torch to expand the hole in the engine block. Doing this would allow the stubborn oil galley plugs slip out the hole easily. Adding paraffin wax at the other end would speed up the removal. Technician B should initially use a smaller size drill bit to provide a pilot hole then proceed with square head bit to detach the plug.
The correct answer to this question is creating systems to monitor and implement ethical standards. Because here the company has
taken an action of setting up toll free hotlines to enforce ethical standards. It <span>talks about establishing systems and here in the given scenario toll free hotlines system has been established.</span>
Answer:
B net income is overstated, assets are overstated, and stockholders' equity is overstated
Explanation:
The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as
Opening balance + purchases - cost of goods sold = closing balance
Hence, where ending inventory balance is overstated, cost of goods sold is understated. When cost of goods sold is understated, gross and net incomes are overstated. Hence owner's equity is overstated and asset overstated.
