Answer:
$87,567.14
Explanation:
For computing the amount deposited for attaining the goal we need to apply the present value which is to be shown in the attachment
Provided that,
Future value = $300,000
Rate of interest = 8%
NPER = 16 years
PMT = $0
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula, the present value is $87,567.14
Answer:
$667,000
Explanation:
stockholders' equity December 31, 2016 = $540,000
plus net income = $60,000
minus cash dividends = ($18,000)
plus issuance of common stock = $70,000
plus sale of treasury stock = $15,000
stockholders' equity = $667,000
Stock dividends do not affect the value of stockholders' equity, that is why they are not included in this calculation.
The Company recorded 660 x 74 = $48,840 in deferred revenue. This is a liability account that means they still owe the service or good which they have been paid for.
Every month, the company records an adjusting entry, recognizing one twelfth of the 48,840, 4,070, because they have earned another month of that deferred revenue by providing the magazine.
The journal entry on December 31, 2018, will be
Deferred Revenue 4,070
Revenue (4,070)
If this is the first time they've made the entry, then they will recognize earned revenue for Sep, Oct, Nov and Dec,
Deferred Revenue 16,280
Revenue (16,280)
