4. If Aika's goal is to be able to withdraw P30,000 by January 1, 2023, and then another P30,000 on June 1, 2023, how much should she deposit in that bank on June 1, 2022 in order to reach this goal?
Q: Based on the above and the result of your audit, determine the following as of May 31, 2015: 16.…
A: Common Stock Number Par Value Amount Issued 840,000 2.5 2,100,000 Less:…
Q: Wildhorse Company expects to have a cash balance of $52,100 on January 1, 2022. These are the…
A: Budgets are made to forecast the incomes and expenses during a particular period. Cash budget shows…
Q: Consider the information below for an individual: Home valued at $250,000 . Mortgage balance of…
A: Note: “As the question has more than 3 sub-parts, the first 3 subparts are answered. If you want the…
Q: 90% interest Peregrine Corporation acquired Corporation in 2004 at a time when Cliff's book values…
A: Here discuss about the details of total investment income which was reported by the subsidiary…
Q: Solve for the amount of money that the bank can lend, given the reserves that are legally required…
A: Banks require to maintain the portion of the deposits into the safe custody which are required to be…
Q: Woodridge USA Properties, L.P., bought eighty-seven commercial truck trailers from Southeast Trailer…
A: Damages are essentially monetary awards that must be given to the individual who has been hurt or…
Q: Yani Inc. is a wholly owned subsidiary of Pakito Corporation. The following are excerpts from the…
A: Calculation of Gross Profit Margin % of Pakito Corp: =P750,000/(P2500,000 + P500,000) * 100 =30%
Q: 1. If P5,000 is invested in a time-deposit for 2 years in a bank that offers 4% annual interest…
A: Interest means the extra amount which we received because of investment made and will be paid in…
Q: Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency.…
A: Labor rate variance= (Standard rate - actual rate) actual hours Labor quantity variance: (Standard…
Q: Use the following information to answer questions 30 and 31. When Calvert Corporation was formed on…
A: Cash received on issue of 8000 shares at $25 = 8000×$25 =$200000
Q: Chowkie Company has the ff information: Inventory Accounts payable December 31, 2010 USD 2,000,000…
A: Formulas: Cost of goods sold = Beginning inventory + Cost of goods purchased - Ending inventory…
Q: For Solar Industries and its related but separate financing company Solar Financing Corp. Required:…
A: Debt to equity ratio = Total Debt/ Total Equity
Q: For the next two (2) questions: Selected balances related to the accounts receivable of ABC Company…
A: Formulas: Bad debts expense = Ending allowance for doubtful accounts + Written off accounts -…
Q: Question 2 All of the following controls can ensure input validity of shipping notice, except? O…
A: The answer is provided as follows:
Q: Why is planning in an audit important? Under which standard in VSA that auditors are required to…
A: The answers for the theory questions on role of planning in auditing are discussed hereunder : What…
Q: PB3. Itd 5.1 The following selected accounts and normal balances existed at year-end. Notice that…
A: Closing entries are those entries that are used for transferring the balance from the temporary…
Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…
A: The dividend for which the client is entitled to receive is calculated on the number of shares held…
Q: Norenberg Corporation manufactures a variety of products. The following data pertain to the…
A: Absorption costing: Absorption costing is also called traditional costing. This method of costing…
Q: of a cooperative shall be allowed if the same in intended to defraud creditors. 29. Merger and…
A: Merger includes two or more than two companies which companies through takeover as well as emergence…
Q: 24 For a recent year a corporation's financial statements reported the following: Based on the…
A: Solution.. Net income = $100,000 Depreciation = $10,000 Increase in accounts receivable =…
Q: During December Far West Services makes a $3,000 credit sale. The state sales tax rate is 6% and the…
A: Formula: Total sales tax = State sales tax + Local sales tax where. State sales tax = Sales x State…
Q: Ellington, SRL is developing their manufacturing overhead budget for February, which is based on…
A: The manfacturing overheaf budget is the budget that is prepared for the manufacturing overhead. In…
Q: What is net income? What is a net loss? Why are owners interested in the income statement? Why are…
A: (Note: Since you have posted a multi-part question, we will solve the first three sub-parts for you.…
Q: P Incorporated purchased 80% of The S Company on January 2, 2014, when S's book value was $800,000.…
A: In the books of P, the Investment in S will initially be measured at Cost (Transaction Value). Any…
Q: 's payment terms with e as follows: 10% of ediately goods are the remaining, 6 0% nth 3500
A: In three months period, the cash budget is prepared as,
Q: What is the net cash provided by operating activities? a. P1,100,000 b. 1,850,000 C. P2,350,000 d.…
A: The cash flow statement is the statement that depicts the inflow and outflow of cash and cash…
Q: 16. Cooperatives are primarily established to promote the quality of life of its members. True or…
A: Cooperatives: These are the organizations or enterprises owned, controlled and run by the…
Q: When reclassification is made from owner-occupied property to investment property that will be…
A: Any reclassification from owner-occupied property to investment property would be dealt with as per…
Q: 27 The entry to close the Dividends account at the end of an accounting period which has a balance…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: ngin ginee certain time as fo The initial constr he construction p Extra expenditur of the first…
A: The cash flow diagram is a financial tool which shows cashflows associated with business. Detailed…
Q: Give reasons why migration and income inequality is positively related.
A: Migration means the movement and settlement of people, usually in large numbers, from one area to…
Q: “Process Costing Using FIFO Method”
A: Production Cost Report:
Q: Compute for the consolidated net income.
A: Particulars Quail Savannah Unrealized gain Adjustment onUnrealised gain * Consolidated Amount…
Q: Snyders Kennel uses tenant-days as its measure of activity, an animal housed in the kennel for one…
A: Introduction:- Activity variances are the differences between the planning budget and the flexible…
Q: were declared on January 5 payable to shareholders as of February 10. MEOW Company shares were split…
A: Initial carrying value of investment on the date of acquisition is the investment cost 10,000…
Q: E The statement of financial position of L, M, and N just before liquidat shows the following Cash P…
A: >In the event of dissolution of a partnership, the following steps are taken for payment:[1] Non…
Q: Description 1. A company reports details behind financial statements that would impact users'…
A: Introduction:- Accounting principles are guidelines issued by accounting standards like GAAP and…
Q: Tech it Easy (TECH) sells computers and laptops. Tech includes a four-year warranty on each…
A: Warranty Payable The entity provide the warrant payable which can be given for after sales support…
Q: H Company acquires 100% of the voting stock of R Company on January 1, 2021 for P400,000 cash. A…
A: Acquisition Price: The target business's assets and liabilities are entirely taken up by the sister…
Q: P Company acquired 90% of S Corporation on January 1, 2014 for $2,250,000. S had net assets at that…
A: The company which acquires controlling interest in another company is called the parent company and…
Q: December 31, 2021 P1,500,000 950,000 December 31, 202 P1,400,000 ventory ccounts payable 980,000 or…
A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Cost of goods sold =…
Q: 2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest…
A: Steps to be followed: For each month calculate the interest amount on the balance including…
Q: Yani Inc. is a wholly owned subsidiary of Pakito Corporation. The following are excerpts from the…
A: Calculation of Gross Profit Margin % of Pakito Corp =P750,000 / (P2000,000 + P500,000) * 100 =30%
Q: PT Kenko is committed to disposing of the building used by CGU ABC. As of June 30, 2021, all the…
A:
Q: she Company was organized on January 1, 2015 with authorized share capital of 100,000 shares of P20…
A: In case issue of shares for acquisition of asset or for obtaining services then the fair value of…
Q: er the following questions. Q.1 Identify and motivate the transaction processing taking place in…
A: The canteen at the college where I am enrolled is really crowded. Orders can be placed and paid for…
Q: National Co.'s average daily payment is P10,000 meanwhile daily collection average P5,000. The…
A: a) Calculation of average daily disbursement float :- Average daily disbursement float = 10,000 x…
Q: From the trial of Johnson Moving, classify each account as an asset, liability, an owne equity, a…
A: Account Titles Debit Credit Classificiation Cash $ 25,000 Asset Accounts…
Q: Anne Smith works as a dentist. In addition to what she does for a living, she runs a restaurant. She…
A: Taxable Income: It specifies the basis on which the income system sets the tax. In other words, the…
Q: P Company acquired 90% of S Corporation on January 1, 2014 for $2,250,000. S had net assets at that…
A: Investment in accounting means that the asset or the item which is acquired with the objective of…
TYPEWRITTEN ONLY PLEASE FOR UPVOTE. DOWNVOTE FOR HANDWRITTEN. DO NOT ANSWER IF YOU ALREADY ANSWERED THIS. I'LL DOWNVOTE.
Step by step
Solved in 2 steps
- Ms. Boatright wants to withdraw $2000 from an account at the end of year 1, $4000 at the end of year 2, $5000 at the end of year 3, and $4,000 at the end of year 4. If she earns an interest rate of 8%, how much money will she need to deposit today to fully fund these withdrawals? How much money will be in her account after she makes the second withdrawal?A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should she deposit monthly in a bank if it pays interest at 14%, m = 12?Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that pays 8% compounded quarterly so that after 6 years and 5 months, she can have her desired money? Choices are: 31, 889.7541648, 110.24584 and 50,000
- Engr. Singson wants to get married on June 8, 2023. According to his estimates, he will need P305,000. With this, he started depositing to Landbank on February 8, 2016 with an amount of P10,500. He made a second deposit worth P50,000 on August 24, 2020. How much he deposits on November 4, 2021 so that he will realize the required amount for his weddinf . Use i=6% per year. Consider exact interest.You wish to deposit $500 dollars per year. The first deposit will be on April 1, 2017, and your last deposit will be on April 1, 2026. How much will be in the account on April 1, 2050 if the bank pays 4% annually?A man decides to deposit a certain amount of money on his son's 10th birthday, which will be equivalent to P280,000.00 with today's purchasibg power of the peso on his son's 25th birthday when he will start his marriage life. If the bank pays 5.5% compounded annually and the rate of inflation is 8.7% compounded annually, how much should be deposited by the man? Using this formula F=P(1+f)^n.
- Every year, on 1st January, starting in 2020 and ending in 2049 (so 30 payments), you deposit $1,000 into a bank account. What rate of return would you need to earn on the account so that on 31st December 2049, just after that year's interest was paid into the account, you had $50,000 in the account?A student plans to deposit P1,500 in a bank now and another P3,000 for the next two years. If he plans to withdraw P5,000 three years after his deposit for the purpose of buying shoes. What will be the amount of money left in the bank one year after his withdrawal? The effective rate is 10%Currently (in August, 2021), Abby wants to have $20,000 available in August 2025 to make a college tuition payment.To be able to have this amount available, Abby will make equal annual deposits in an investment account earning 12% annually in August 2021,2022,2023,2024, and 2025. What is the annual amount to be deposited? a.$5,548 b.$4,000 c.$3,148 d.$2,270
- What amount will Miley need to put in the bank today at 4% interest in order to have $20,000 in 5 years? a. 16,000 b. 16,439 c. 17,439 d. 20,000A parent on the day that child is born wishes to determine what lump sum would have to be paid into an account bearing interest of 5% compounded annually, in order to withdraw P20,000 each on the child’s 18th, 19th, 20th, and 21st birthdays? How many periods with no payment made does the problem have? A. 5 B. 4 C. 18 D. 178) Bozo the clown decides to start saving money. So, every month he deposits $200 into an account which pays4% monthly. If Bozo’s first deposit is on May 1, 2021, then how much is in the account immediately after hisdeposit on November 1, 2027? 9) You deposit $200 each month for five years. How much will be in the account after the five years if theinterest rate is 4% monthly? 10) An Elk, age 3, is given $400,000. (If a mouse can buy refrigerator, then an Elk can have $400,000.) Theamount is invested at 5% annually. If the Elk (His name is Ernie. You met Ernie in problem 6.) takes the moneyin five equal annual payments with the first in eight years (when Ernie is 11), then what is the size of eachpayment? 11) Max the mouse decides that he needs a new place to put his giant cheese refrigerator. So, Max purchases a lotfor $300,000. Max agrees to pay $25,000 dollars at the end of each year. If the interest rate is 4% compoundedannually, how many full payments must be made, and what…
