You want to be able to withdraw $800 from a savings account at the end of year 1, $900 at the end of year 2, $1,000 at the end of year 3, and so on over a total of 5 years. How much money must be on deposit right now, at the end of year 0, to just deplete the account after the 5 withdrawals if interest is 5% compounded annually
Which type of tutoring does the school normally offer
In seat tutoring
Online tutoring
Supplemental Instruction
All of the above
The type of tutoring does the school normally offer are :
•Online tutoring
•Supplemental Instruction
Tutoring is the way of teaching and impacting more knowledge into students which will inturn enable them to improve more in their studies.
•Online tutoring is the way of teaching or assisting students online in order to help them improve in their studies or subject which they are finding difficult to understand.
•Supplemental Instruction is a way of teaching and interacting with students who are facing difficulty in some subjects or courses such as traditionally subjects.
Inconclusion The type of tutoring does the school normally offer are :
•Online tutoring
•Supplemental Instruction
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On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Payment Effective Interest Increase in Balance Outstanding Balance 6,286,574 1 370,000 377,194 7,194 6,293,768 2 370,000 377,626 7,626 6,301,394 3 370,000 378,084 8,084 6,309,478 4 370,000 378,569 8,569 6,318,047 5 370,000 379,083 9,083 6,327,130 6 370,000 379,628 9,628 6,336,758 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 38 370,000 432,132 62,132 7,264,327 39 370,000 435,860 65,860 7,330,187 40 370,000 439,813 69,813 7,400,000 Required: 1. What is the face amount of the bonds
Answer:
The face amount of the bonds is $7,400,000
Explanation:
The face value or amount of the bonds is the amount that is repaid to the bondholder at the end of the maturity period. The face amount is usually stated on the bond certificate when issued, and the issuer of the bonds is expected to pay this amount at maturity. The amortization schedule of the bonds shows how the interest expense and payments are made and the amortization of either premiums or discounts on the bonds. It helps the issuer to account for the instrument over the maturity period.
Stockton Company Adjusted Trial Balance December 31 Cash 6,102 Accounts Receivable 2,938 Prepaid Expenses 703 Equipment 15,970 Accumulated Depreciation 6,337 Accounts Payable 1,719 Notes Payable 4,543 Common Stock 1,000 Retained Earnings 10,872 Dividends 916 Fees Earned 6,176 Wages Expense 2,514 Rent Expense 761 Utilities Expense 459 Depreciation Expense 233 Miscellaneous Expense 51 Totals 30,647 30,647 Determine the retained earnings ending balance.
Answer:
Stockton Company
The retained earnings ending balance is:
= $12,114.
Explanation:
a) Data and Calculations:
Stockton Company
Adjusted Trial Balance December 31
Cash 6,102
Accounts Receivable 2,938
Prepaid Expenses 703
Equipment 15,970
Accumulated Depreciation 6,337
Accounts Payable 1,719
Notes Payable 4,543
Common Stock 1,000
Retained Earnings 10,872
Dividends 916
Fees Earned 6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51
Totals 30,647 30,647
Income Statement for the year:
Fees Earned $6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51 4,018
Net Income $2,158
Statement of Retained Earnings for the year:
Net Income $2,158
Retained Earnings 10,872
Dividends (916)
Retained Earnings, ending $12,114
True False 1. Capital projects funds account for proceeds of specific revenue sources that are legally required to be spent for specified purposes. 2. Utility bill payments are recognized in a proprietary fund. 3. The economic resources measurement focus is used to report the government-wide financial statements. 4. Capital assets and long-term liabilities specifically related to proprietary funds activities are accounted for using the modified accrual basis of accounting. 5. Governmental funds are accounted for using the accrual basis of accounting. 6. Government-wide financial statements report general long-term liabilities.
Answer and Explanation:
1. The given statement is false as the specific projects are those projects that are funded for the specific or particular task
2. The given statement is true as the bill payment made for utility would be recorded in a proprietary fund
3. The given statement is true as the measurement of the economic resources would be recognized in the financial statement i.e. government wide
4. The given statement is true as the capital assets and long term liabilities that related to the proprietary find would be accounted under modified accrual basis
5. The given statement is true as for the government funds as well, it used the accrual basis
6. The given statement is true as the financial statement i.e. government wide would recognize the long term liabilities
Your firm has been working on an advanced technology. This technology will be available in the near term. The firm anticipates the first annual cash flow from the technology to be $158,335, received three years from today. Subsequent annual cash flows will grow at 2.24% in perpetuity. What is the present value of the technology if the discount rate is 10.02%
Answer:
$908,551
Explanation:
Present value of the technology = First annual cash flow/(Discount rate-Growth rate))/Growth
Present value of the technology = ($158,335/(10.02%-2.24%))/2.24= $2,500,000
Present value of the technology = ($158,335/7.78%)/2.24
Present value of the technology = $2035154.241645244 / 2.24
Present value of the technology = $908551.000734483
Present value of the technology = $908,551
10 Characteristics of a Successful Entrepreneur
Answer:
1.creativity
2.professionalism
3.risk taaking
4.passion
5.planning
6.knowledge
7. social skills
8.open mindedness towadrs learning, people and even failure
9.emphaty
10.the customer is everything
Explanation:
HOPE IT HELPS ( dont judge people if their answer is not correct )(◍•ᴗ•◍)❤
Ware Manufacturing Company produced 2,000 units of inventory in January 2018. It expects to produce an additional 14,000 units during the remaining 11 months of the year. In other words, total production for 2018 is estimated to be 16,000 units. Direct materials and direct labor costs are $64 and $52 per unit, respectively. Ware expects to incur the following manufacturing overhead costs during the 2018 accounting period:
Production supplies $ 20,000
Supervisor salary 160,000
Depreciation on equipment 75,000
Utilities 20,000
Rental fee on manufacturing facilities 45,000
Required
a. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is number of units
b. Determine the cost of the 2,000 units of product made in January Complete this question by entering your answers in the tabs below.
Required A Required B
Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is number of units Predetermined overhead rate per unit < Required A Required B >
Answer:
Total production cost= $266,380
Explanation:
First, we need to calculate the total estimated overhead costs:
total estimated overhead costs= 20,000 + 160,000 + 75,000 + 20,000
total estimated overhead costs= $275,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 275,000 / 16,000
Predetermined manufacturing overhead rate= $17.19 per unit
Finally, we can calculate the total production cost of the 2,000 units made in January:
Total production cost= total unitary cost*number of units
Total production cost= (64 + 52 + 17.19) * 2,000
Total production cost= $266,380
