Specialisation is when individuals focus on perfecting a limited range of tasks so as to become experts in that particular field
Answer:
$38,536.3567
Explanation:
Given that,
Annual salary = $31,000
Growth rate = 2.2 percent per year
Time period = 10 years
Salary 10 years from today:
= Current salary × (1 + Growth rate)^{Period}
= $31,000 × (1 + 0.022)^{10}
= $31,000 × 1.24310828
= $38,536.3567
Therefore, the annual salary of this person ten years from today is $38,536.3567.
Answer and Explanation:
The Journal entry to record the issuance of the bond is as follows:
Cash Dr $449,280 ($432,000 × 1.04)
To Bond payable $432,000
To Premium on bond payable $17,280
(Being the issuance of the bond is recorded)
here the cash is debited as it increased the assets and credited the bond payable and the premium on bond payable as it also increased the liabilities
