Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Q: An engineer is employed in a government office. Every month an amount of ₱ 1,924.83 is deposited in…
A: First we need to calculate accumulated amount at the time of retirement FV =PMT(1+i)n -1i where FV…
Q: D. Basic Applications. Solve for the following problems: 1. Dean works as a manager in Jo's Hardware…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Nicole thinks that her business, Nicole’s Getaway Spa (NGS), is doing really well and she isplanning…
A: Notes payable: Notes Payable is a written promise to pay a certain amount on a future date, with…
Q: Note that the rent, utilities, other operating costs, and interest are paid in cash each month as…
A: Cash Budget is an estimation of Cash receipts and payments of a specific period.
Q: Suppose another graduating student also has a financial plan with regard to starting his business.…
A: Net present value (NPV) is the contrast between the present value of money inflows over some…
Q: Case B - You estimate that you will have $43,000 of school loans by the time you graduate. Your…
A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
Q: aving Early Plan 2: Invest $350 at the end of each month into an account pay ompounded monthly for…
A: The future value of an annuity is the future worth of a series of cash flow at a certain rate of…
Q: novels. The business will use FIFO to manage inventory and makes ac at the end of each month. a) To…
A: 1) Journal Entry Date Particular Debit Credit 1 Jan Cash a/c 100,000 To Bank loan…
Q: 4-54. Kris borrows some money during her senior year to buy a new car. The car dealership allows her…
A: in this problem we to calculate present value of loan and find monthly payment and find out monthly…
Q: 3. A company sets up a quarterly award to recognize the hard work and dedication of one employee per…
A: PV of annuity=A(1+r)n-1r(1+r)n PV of growing annuity=CF1r-g1-1+g1+rn PV of perpetuity=Cash…
Q: You have been accepted into college. The college guarantees that your tuition will not increase for…
A: We need to calculate the present value of all collage fee by using this formula Present value…
Q: 3-Michael Cool's employer offers its workers an optional two-month unpaid vacation after 7 years of…
A: Present value can be defined as the sum of money is invested in current time for some future goals…
Q: A student has a savings account earning 12% simple interest. She must pay $1250 for first-semester…
A: We know that the student will need $1250 on September 1 for the fall tuition.We must determine the…
Q: 36) You have been accepted into college. The college guarantees that your tuition will not increase…
A: Present Value of Ordinary Annuity refers to a concept that determines the value of cash flows at…
Q: Answer all the subparts 1,2,3 If answered within 30mins,it would be helpful!! Bamboo Inc. is a…
A: Journal Entries Date Particulars…
Q: A. Kelly is shopping for a new car. She can afford a deposit of RM 5000 and quarterly payments of RM…
A: Here, Deposit Amount is RM 5,000 Quarterly Payment is RM 2,000 Interest Rate is 8% Time Period is 3…
Q: a. A popular ski magazine company recelves a total of $13,345 today from subscribers. The…
A: Revenue Account Amount of Revenue a None No Revenue earned in the current year as subscription…
Q: -2- QUESTION 1: Usman 21 years old works at Noman Power Systems. His current salary is $50,000,…
A: The Future Value of a lump sum: The value of an investment made at the beginning of the investment…
Q: Determine the tuition fee revenue for the period December 31. This is the first year of Happy…
A: Revenue: Revenues are the income earned by the business through its business operations during a…
Q: a principal amount of $600 was invested at 5% interest. in this lesson, recalculate the interest…
A: The term simple interest refers to the interest that is charged on the principal amount only. And,…
Q: Ir. Hephaestus Vulcan took out a loan to buy a etbook computer on February 2. The loan is due to e…
A: Solution Given Date when loan taken February 2 Loan to be paid on April 15 Interest…
Q: Chavez Co.’s salaried employees earn four weeks’ vacation per year. Chavez estimated and must…
A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are…
Q: 1. Purchased a 1-year insurance policy on June 1 for $ 2,100 cash. 2. Paid $ 6,900 on August 31 for…
A: Insurance expense=Total insurance×712=$2100×712=$1225
Q: Question 1: Know your numbers! You are a student at the University of North Anywhere. There are…
A: The cost price index shows the effect of inflation on the economy. It is one of the ways to…
Q: On January 1, Southwest College received $1,200,000 in Unearned Tuition Revenue from its students…
A: Solution: Tuition revenue for 4 months = $1,200,000 Tuition revenue for 1 month = $1,200,000 / 4 =…
Q: Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to…
A: This is a comprehensive question in which journal entries have been asked for the transactions…
Q: lease show in excel 2. Suppose another graduating student also has a financial plan with regard to…
A: Note : As per the guidelines, only first question will be answered. The net present value of the…
Q: St. Thomas University (STU) plans to build an addition to the Gus Machado School of Business 4 years…
A: The provided information are: Future value (FV) = $8 million Rate (r) = 5% = 0.04 Number of periods…
Q: A newly graduated engineer bought furniture for $4500 from a local store. Monthly payments for 1…
A: Amortization schedule A table of the periodic payments of the loan, indicating the principal amount…
Q: You deposited $1,000 in a savings account that pays 8 percent interest, compounded quarterly,…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Problem 2 Assume you start working on June 1, 2023 and with your first salary on June 30th you start…
A: Present Value of Ordinary Annuity refers to the concept which dictates the discounted value of a sum…
Q: My cousin , Hershey , is a newlywed public school teacher who plans for the education of her future…
A: Annuities assume that money is put into the account on a regular schedule and money is then left in…
Q: On January 1, Eastern college received $1,300,000 from its students for the spring semester that it…
A: As per the revenue recognition principle revenue should be recognized when it actually earned by the…
Q: The Future CPAS The Future CPA is a preparatory school for children three to five years old.…
A: Revenues are the income earned by the business through its business operations during a particular…
Q: do assignments using excel and manually if possibly A student plans to open a business with the…
A: Loan amount (PV) = $1740.11 Interest rate (r) = 6% Period (n) = 5 Years
Q: Problem 1: The Happy ToddlersThe Happy Toddlers is a preparatory school for children three to five…
A: Revenue: Revenues are the income earned by the business through its business operations during a…
Q: Applying the revenue recognition principle Seacoast Magazine sells subscriptions for $36 for 18…
A:
Q: 1. Harvey Spectre started Pearson & Co. , a company law firm on April 1, 2021. The following…
A: General Ledger is the account prepared of particular head after posting all the transactions from…
Q: You have been accepted into university. The university guarantees that your tuition will not…
A: The present value is the value of the sum received at time 0. It is the current value of the sum…
Q: Determine the tuition fee revenue for the period December 31. This is the first year of Happy…
A: Revenue means the income to be booked in books of accounts. Revenue should be booked on accrual…
Q: Harvey Spectre started Pearson & Co. , a company law firm on April 1, 2021. The following…
A: Journals represent the record of day-to-day business-related monetary transactions that took place…
Q: 4. Emma pays for fibre optic broadband to ensure a reliable internet connection for all of her…
A: Cash Budget - A cash budget is an estimation of cashflows of the company over a particular period of…
Q: A. A corporation is started with an investment of $50,000 in exchange for stock. B. Equipment worth…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: 1. Purchased a 1-year insurance policy on June 1 for $ 2,100 cash. 2. Paid $ 6,900 on August 31 for…
A: The question is related to the adjusting journal entry that is required on December 31.
Q: 1. Dr. Vicky Bella, a consultant, employs one college student every summer to help her in her…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Dr. Erica Chan, MD owns EC Health Clinic. She prepares annual financial statements and has a…
A: Increase in assets should be debited and decrease in assets should be credited. Increase in…
Part 1: Starting the business
The Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school year. Operations started on June 1. Parents can pay the full tuition fee of P70,000 each at the start of the every semester (June 1 and November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31.
Required:
Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
Step by step
Solved in 3 steps with 2 images
- Homeland Plus specializes in home goods and accessories. In order for the company to expand its business, the company takes out a long-term loan in the amount of $650,000. Assume that any loans are created on January 1. The terms of the loan include a periodic payment plan, where interest payments are accumulated each year but are only computed against the outstanding principal balance during that current period. The annual interest rate is 8.5%. Each year on December 31, the company pays down the principal balance by $80,000. This payment is considered part of the outstanding principal balance when computing the interest accumulation that also occurs on December 31 of that year. A. Determine the outstanding principal balance on December 31 of the first year that is computed for interest. B. Compute the interest accrued on December 31 of the first year. C. Make a journal entry to record interest accumulated during the first year, but not paid as of December 31 of that first year.Mohammed LLC is a growing consulting firm. The following transactions take place during the current year. A. On June 10, Mohammed borrows $270,000 from a bank to cover the initial cost of expansion. Terms of the loan are payment due in four months from June 10, and annual interest rate of 5%. B. On July 9, Mohammed borrows an additional $100,000 with payment due in four months from July 9, and an annual interest rate of 12%. C. Mohammed pays their accounts in full on October 10 for the June 10 loan, and on November 9 for the July 9 loan. Record the journal entries to recognize the initial borrowings, and the two payments for Mohammed.The Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school year. Operations started on June 1. Parents can pay the full tuition fee of P70,000 each at the start of the every semester (June 1 and November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. Required:Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
- Problem 1: The Happy ToddlersThe Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of P70,000 at the start of the school year (June). There is also an option to pay two installments of P37,000 each at the start of every semester (June 1 and November 1). On the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. Requirements: Determine the tuition fee revenue for the period December 31. This is the first year of Happy ToddlersThe Future CPAS The Future CPA is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of P70, 000.00 at the start of the school year (June). The is also an option to pay two installments of P37, 000.00 each at the start of every semester (June 1 to November 1) Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. *Determine the tuition fee revenue for the period December 31, 2019. This is the first year of the school operations. Queen ABM, owner of The Future CPAS Company has requested your assistance to doThe Happy ToddlersThe Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of P70,000 at the start of the school year (June). There is also an option to pay two installments of P37,000 each at the start of every semester (June 1 and November 1). On the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. Requirements: Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddle
- The Happy ToddlersThe Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of P70,000 at the start of the school year (June). There is also an option to pay two installments of P37,000 each at the start of every semester (June 1 and November 1). On the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. Requirements: Determine the tuition fee revenue for the period December 31. This is the first year of Happy ToddlersThe Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school-year. Parents can pay the full tuition fee of ₱70,000 at the start if the school year (June). There is also an option to pay two installments of ₱37,000 each at the start of every semester (June 1 and November 1). Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31. Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.the happy toddlers is a property school for children 3 to 5 years old students are enrolled for our school year operation started june 21 parents can feed the full tuition fee of 70,000 pesos if at the start of the every semester june 1 to november 1 of the student hundred fifty students android hd are paid in full at the start of the year the remaining students are installment basis school runs june 12 march 1 determine the tuition fee revenue for the period december 31 this is the first year of happy toddlers operation the happy toddlers the preparatory school children 3 to 5 years old they are 10 teachers employed by tht 5 seniors teachers with salary of 30,000 pesos of a month and 5jr teachers at 15,000 there are also for administrators with average monthly salary of 35000 annual depreciation furniture and fixtures amount to 100,000 utilities starting operational totals 200thousand.
- the happy toddlers is a preparatory school for children three to five years old. pupils are enrolled for a school-year. parents can pay the full tuition fee of p70000 at the start of the school year (june).there is also an option to pay two installments of p37000 each at the start of every semester (june 1 and november 1). of the 150 students enrolled, 80 are paid in full at the start of the year. the remaining students are on installment payments. one school year runs from june 1-march 31. determine the tuition fee revenue for the period december 31. this is the first year of happy toddlers operations.On January 1, Southwest College received $1,200,000 in Unearned Tuition Revenue from its students for the spring semester, which spans four months beginning on January 2. What amount of tuition revenue should the college recognize on January 31? Group of answer choices $300,000. $800,000. $900,000. $600,000.Subject :- Account After earning an MBA, a student begins working on an $80,000 per year job on 9/1/18. She expects to receive a 5 percent raise each year until she retires on 9/1/48. If the cost of capital (i.e. interest rate she uses to discount future earnings to current dollars) is 8% per year and she is paid monthly, determine the total present value of her before tax earnings. Assume she is paid at the end of each month and each annual raise takes effect on Sept 1 each year. (answer is $1,521,144,67) In Excel functions
