Which inventory report best shows non- turning items?

Congratulations, you are a millionaire. No, the Delaware Lottery office did not call. However, an officer from Bank of America h

nevsk [136]

Part A

Answer:

$207,021

Explanation:

The balance on the account at the end of the year 2020 is $1,000,000

The question asks us to calculate the balance on the account at the end of the year 1970, which is exactly 50 years ago.

We would simply discount the $1,000,000 by using an interest rate of 3.2%

$PV_{1970}$ = $\frac{1000000}{(1 + 0.032)^{50} }$ = $207,021

Part B

Answer:

$17,892.88

Explanation:

We have the value at year 1970 which is $207,021

Now to calculate the annual payment (PMT) we would plug the following values in the financial calculator,

PV = 0

N = 10

FV =207021

I/Y = 3.2

PMT = ?

PMT = $17,892.88

https://www.calculator.net/finance-calculator.html?ctype=contributeamount&ctargetamountv=207021&cyearsv=10&cstartingprinciplev=0&cinterestratev=3.2&ccontributeamountv=1000&ciadditionat1=end&printit=0&x=102&y=11

4 0

3 years ago

A company produces 500 microwave ovens per month, each of which includes one electrical circuit. The company currently manufactu

kipiarov [429]

Answer:

Operating income will be $6,000

Explanation:

The computation of the operating income is shown below:

= Total cost - outsourcing cost

where,

Total cost = Variable cost + fixed cost

Variable cost = Number of microwaves × variable cost per unit

= 500 × $26

= $13,000

And, the fixed cost is $7,000

Now put these values to the above formula

So, the value would equal to

= $13,000 + $7,000

= $20,000

And, the outsourcing cost equal to

= Number of microwaves × outsourcing cost per unit

= 500 × $28

= $14,000

So, the net income would be

= $20,000 - $14,000

= $6,000

3 0

3 years ago

A company acquires a subsidiary and will prepare consolidated financial statements for external reporting purposes. For internal

NemiM [27]

Answer:

It is a relatively easy method to apply.

Explanation:

When accounting for a subsidiary, equity method is followed, whenever the shareholding percentage is equal or more than 20%.

But here, the parent company uses, initial value method for internal reporting.

Under initial value method the value of investment in subsidiary is recorded at cost, and then adjusted at year end at fair value, this clearly shows the gain or loss at each year end from such investment as per market norms.

There is no statutory requirement to follow such initial value method for internal reporting.

The correct reason therefore, is:

It is a relatively easy method to apply.

7 0

3 years ago

Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr

Dominik [7]

Answer:

The correct answer is $56,000.

Explanation:

According to the scenario, the given data are as follows:

Average checks per day = $14,000

Days in clearing = 4 days

Interest rate = 0.018% per day

So, we can calculate the company's float by using following formula:

Company's Float = Average checks per day × Days in clearing

By putting the value in the formula, we get

Company's Float = $14,000 × 4

= $56,000

8 0

3 years ago

A ________ perspective on quality involves a subjective assessment of the efficacy of every step on the process for the customer

Butoxors [25]

Answer:

Value-Added.

Explanation:

A value-added perspective on quality involves a subjective assessment of the efficacy of every step on the process for the customer. A value-added perspective on quality is a strategic business approach in which businesses engage in activities that brings value, benefits or satisfaction to the consumer of its goods and services, to achieve this goal, business managers usually ensures that the manufacturing and distribution process or steps are effective and efficient.

5 0

3 years ago