Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10% annual interest rate, compounded quarterly, in order to have $30,000 in the fund at the end of 10 years?
Q: a. What amount of joint product cost would be allocate to each product? b. What is financial…
A: Lets understand the basics. For allocating joint process cost, there are various methods are…
Q: The following information pertains to York Rafting Company: 2 Issued common stock to investors for P…
A: Journal entries are the basic method for recording financial transactions in the books of accounts.…
Q: Consider the following independent scenarios: On 9/1, company accepts a P10,000, 5%, 8-month note…
A: Notes receivable are asset accounts linked to an underlying promissory note, which specifies the…
Q: a. For the month ended January 31, determine Aricanly's cos Aricanly Manufacturing Company Cost of…
A: The cost of goods manufactured (COGM) is the sum of the cost of direct labor used, the cost of…
Q: Erika Company makes 70,000 units per year of a part it uses in the products it manufactures. The…
A: Every business organization aims is to earn maximum profit, In the competitive environment is it not…
Q: Cash 5,209 Accounts Receivable 2,798 Prepaid Expenses Equipment Accumulated Depreciation Accounts…
A: Introduction: Balance sheet: All Assets and liabilities are shown in balance sheet. It tells the net…
Q: question 8. Determined that the Capital Projects Fund should be reimbursed $3,000 for wages that…
A: In this question, we just post one transaction with amount, related to the capital Project Funds.
Q: 14. In prior years, the taxpayer's adjusted AMI and Adjusted AMT $25,000 $15,000 Minimum Tax Credit…
A: The adjusted minimum tax paid in previous year is allowed as minimum tax credit in future so the…
Q: ompute the following: 1. Horizontal and Vertical Analysis 2. Liquidity Ratios 3. Profitability Ratio
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: True or false: • Line personnel give assistance to staff employees. • Organizational structure is…
A: Line and staff organizational structure: It's the modification of line organization. As per line…
Q: A machine has a first cost of P97,198.62 and has an expected salvage value after 10 years…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000.…
A: The journal entries are the basic method for recording transactions. The portion of shares acquired…
Q: SA Electrical received a debit card payment of R2 300,00 from A Zulu in full settlement of his…
A: The correct option with proper explanation are as follows.
Q: On October 1, 2021, Home Company issued to Security Bank c. Payment of the note payable on the date…
A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: ANGEL Company has purchased raw materials amounting to P800,000 from its major supplier on February…
A: The suppliers provide supplies like raw materials and inputs to the corporation on the account. The…
Q: Rerun Manufacturing Company is in the process of preparing its 2020 budget and is anticipating the…
A: Estimated net sales is the amount of sales which is estimated to be sold in 2020. It is calculated…
Q: A company makes a single product and incurs fixed costs of £30,000 per annum. Variable cost per unit…
A: Fixed cost = £30,000 Selling price per unit = £15 Variable cost per unit = £5
Q: How much was cash was distributed to the partners?
A: Dissolution of partnership is the process by which the relationship between the partners is…
Q: What is the consolidated depreciation expense of equipment for the year ended December 31, 2010…
A: Depreciation expense is the portion of a fixed asset that is assumed to be used in the current…
Q: XYZ Corporation wants to issue ten-year $1,000 bonds 6% stated rate paying interest annually. Market…
A: Bonds represents the obligation of the company arose by borrowing financial help from the public by…
Q: Robert Boyd owns 75% of the outstanding common stock in Boyd Inc. Robert is planning to transfer…
A: Fair market value of commercial real estate of Robert : $200,000 Basis to the corporation: $89,000…
Q: Explain the Advantage and Disadvantage of Common Share
A: The advantages and disadvantages of Common shares are explained hereunder : Common shares are the…
Q: Question 16 The undepreciated capital cost (UCC) is equal to
A: The undepreciated Capital cost is depreciated tax cost of depreciable property. It is calculated as…
Q: Using Least Square method compute for the variable and fixed cost Month Direct Labor Cost of…
A: The question is related to Least square method. Least Square Method: This is the best method to…
Q: Explain the relationship between the price of a bond, coupon rate, yield and time.
A:
Q: The variable overhead spending variance has to do with the efficient use of The overhead items. All…
A: Solution Variable overhead spending variance is a difference between actual cost manufacturing a…
Q: Cobb Department Store sells gift certificates redeemable only when merchandise is purchased. These…
A: Unearned revenue is the amount of revenue collected, but the services have not been performed yet or…
Q: The actual cash received from cash sales was $14,953 and the amount indicated by the cash register…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: A milling machine has an initial cost is Php 370,000 and a service life of 10 years. Determine the…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: A company reports the following for one of its products. Direct materials standard (4 pounds @ $2…
A: Answer - (a) Direct material price variance = (Standard price - Actual price) * Actual quantity…
Q: The following information was available for Shekinahs business as at 31st December, 2018 Balances…
A: Debtors Control Ledger Account In the debtors ledger control account which provides the details of…
Q: Kirk Minerals processes materials extracted from mines. The most common raw material that it…
A: Solution: To determine product to be sold at split off point or process further we should compare…
Q: Velma and Keota (V&K) is a partnership that owns a small company. It is considering two alternative…
A: Internal Rate of Return(IRR):- It is the method of calculating or estimating the profitability of…
Q: 5. Lemuel Office Equipment Corporation manufactures two types of filing cabinets-Deluxe and…
A: 1. Unit manufacturing cost can be calculated by adding up all the direct material cost, direct labor…
Q: church $ 2,500 real estate taxes on primary residence $ 5,000 mortgage interest paid on primary…
A: In the US, taxes you pay to the national government, instead of to the state government: Benefits…
Q: B. Sovereign debt (issued bonds) are typically considered as proxies for risk free. Discuss the…
A: Public debt is an important way for governments to fund their investments in growth and development.…
Q: On December 1, 2021, your company borrowed $30,000, a portion of which is to be repaid each year on…
A: given On December 1, 2021, your company borrowed $30,000, a portion of which is to be repaid each…
Q: A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at…
A: As per FIFO, the ending inventory would consist of the last inward items as the first items would be…
Q: On December 22, Travis Company purchased merchandise on account from a supplier for $7,500, terms…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Accounts payable $37,500 Accounts receivable $27,500 Accumulated depreciation-Video equipment…
A: Formula: Net income = Total revenues - Total Expenses
Q: Coronado Industries had sales in 2021 of $5,698,400 and gross profit of $921,800. Management is…
A: Sales Budget- A sales budget is a plan that outlines the methods and strategies for forecasting…
Q: Aman bonowed $3700 from a bank for 6 months Afriend was cosigner of the man's personal note. The…
A: Future Value: Using an expected rate of growth, future value (FV) is defined as the worth of a…
Q: 1a.Harry and Sally formed the Evergreen partnership by contributing the following assets in exchange…
A: As per the relevant provisions, The gain on the property that is contributed by a partner to the…
Q: Analyz JReceivables The following information was taken from the annual reports of two high- end…
A: Solution: Part A) Net Credit Revenue / Accounts Receivable = Receivable Turnover Ratio Company A…
Q: Jean Jones, Robert Martin, and Lee Brown decide to form a new business to be operated as a C…
A: The person transferring the property to a corporation wholly in exchange for the stock of such…
Q: Suppos utility o
A: 1. a) Mux=20,Muy=24 so,marginal rate of substitution at your utility maximizing…
Q: ABC Co. reported a net income on its financial statements of $200,000. This included general and…
A: Net income (NI) refers to the income or amount which is left with the business after all the…
Q: which of the following instances would a liability that would otherwise be presented as current is…
A: Liability is an obligation that has to be paid by the company by sacrificing the assets. It is…
Q: Variable Overhead Spending and Efficiency Variances,Columnar and Formula ApproachesRath Company…
A: The difference between the actual cost and the anticipated (or planned) cost is known as an…
Q: Comparative income statements are available for Johanna's Fine Furs 2010 2009 P 850,000 325,000…
A: There are two methods of analysis: Horizontal analysis Vertical analysis Horizontal Analysis: It…
Question content area bottom
Part 1
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- eremiah Wood wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $25,000 in four years, $26,900 in five years, $28,700 in six years, and $29,700 in seven years. If he can put money into a fund that pays 5 percent interest, what lump-sum payment must Jeremiah place in the fund today to meet his college funding goals? Round the answer to the nearest cent. Round PV-factor to three decimal places. $__________please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) A trust fund for a 8-year-old grandchild is being set up by her grandfather. The objective of the grandfather is to have $100,000 when she is 18, that is after 10 years. The grandfather is investing a fixed amount at the end of each quarter. If the fund earns APR of 8.25%, how much money should be invested into the fund at every quarter end? $_______________ (calculate to cents)(c) As part their responsible business initiative, Micron Industries wants to establish a trust fund to assist under-privileged students in their local community in pursuing 4-year undergraduate degree programs. The tuition fee is estimated to be $35,000 for the first year but is expected to increase by 5% per year thereafter. Required:i. Assuming this trust fund will earn 7.5% interest per annun, calculate the amount required at the start of one student’s college journey to fund his/her full tuition. ii. If Micron Industries would like to sponsor the first student in two years’ time and they currently have $125,000 earmarked for investment, what annual rate of interest is required to accumulate the amount needed as calculated in part (i)?
- Jeremiah Wood wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $22,000 in four years, $23,400 in five years, $24,600 in six years, and $26,100 in seven years. If he can put money into a fund that pays 5 percent interest, what lump-sum payment must Jeremiah place in the fund today to meet his college funding goals? Round the answer to the nearest cent. Round PV-factor to three decimal places.Elsa is planning to set-up an education fund for her daughter. She plans to invest $6,600 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $82,418.16 $64,152.00 $47,520.00 $118,800.00 $43,022.76I tried to answer the following exercise. Please let me know if it is correct. If I didn't do it right, please correct me. You would like to have $200,000 in a college fund in 15 years. How much do you need today if you expect to earn 12% while you are investing to pay for your child’s college? Answer: PV=200,000/(1+0.12)^15= 200,000/5.4736=36,539.02 The amount needed today to invest at 12% for 15 years to grows 200,000 is 36,539.02
- Deakin University wants to establish a trust fund that will provide a perpetual annual scholarship of $15 000. It can invest the money at 11% per annum compounding. How much do they need to invest? Select one: a. $136 363.64 b. $140 500.50 c. $125 506.35 d. $130 340.75You wish to establish a permanent scholarship at Bond University providing a worthy student with $1000 annually. If invested monies generate an 8% return, how much is needed in the scholarship fund?How much money should a grandparent deposit in a college savings fund today for their newborn grandchild in order to provide for 4 uniform annual end of period withdrawals of $20,000 each? The first withdrawal occurs at the end of the 17th year. Use average amount return for the fund = 12% a. $8,847 b. $9,909 c. $11,098 d. $12, 418 Please use excel and show formulas.
- The Pithybottoms want to make a donation to set up a scholarship trust fund at Hinose College. The fund is to support payments of $5,000 at the end of every three months in perpetuity. If the fund earns 7.5% compounded quarterly, how much must they donate?Your grandfather wants to establish a scholarship in his father’s name at a local university and has stipulated that you will administer it. As you’ve committed to fund a $25,000 scholarship every year beginning one year from tomorrow, you’ll want to set aside the money for the scholarship immediately. At tomorrow’s meeting with your grandfather and the bank’s representative, How much will need to deposit? rounded to the nearest whole dollar) so that you can fund the scholarship forever, assuming that the account will earn 5.50% per annum every year. The bank representative just reported that he misquoted the available interest rate on the scholarship’s account. Your account should earn 3.50%. The amount of your required deposit should be revised to?Sheldon Cooper and Amy Fowler are married and live in Pasadena, California. They have as a new investment goal to create a college fund for their newborn daughter. They estimate that they will need $195,000 in 18 years. Assuming that the Cooper-Fowler family could obtain a return of 5 percent, how much would they need to invest annually to reach their goal? Use Appendix A-3 or the Garman/Forgue companion website. Round your answer to the nearest dollar. Round Future Value of a Series of Equal Amounts in intermediate calculations to four decimal places.
