Complete the following without using Table 19.1. (Round the "Total amount" and "Total interest to the nearest cent.) Rate of compound interest Principal $ 1,360 Time (years) 2 Compounded Periods 10% Semiannually Rate Total amount Total interest
Q: bonds, du 8 years. interest each July 1 and January 1. The effective-interest rate is 8%. Date…
A: Bonds payable is long term liability as these are issued to raise funds. When the contract rate is…
Q: Ellie and Linda are equal owners in Otter Enterprises, a calendar year business. Ellie has a basis…
A: A partnership is a type of business arrangement in which two or more individuals or entities come…
Q: Which one of the following are NOT period costs? a) Advertising costs. b) Indirect…
A: Product costs are those costs which are incurred in the making of the product. Eg. Direct Material,…
Q: lowing information for Whispering Winds Corp.. Whispering Wi unting for its inventory transactions.…
A: FIFO Method : Date Purchase Cost of good sold Inventory Unit Unit cost Total…
Q: 2. Soccer Corporation has a $60,000 NOL in the current year. Soccer's taxable income in each of the…
A: An income tax is a tax levied on persons or companies (taxpayers) based on their earnings or profits…
Q: Futura Company purchases the 64,000 starters that it installs in its standard line of farm tractors…
A: The fixed costs are the cost that generally does not change when there is a change in the level of…
Q: select the best answer. Which of the following statements is false related to a partnership? O O A.…
A: The question asks us to identify the false statement related to a partnership. A partnership is a…
Q: On October 1, 20- a check was written in the amount of $300 to establish a pet Voucher No Account…
A: Petty cash refers to a small amount of cash that is kept on hand by a business or organization to…
Q: Speegleville Marina needs to raise $2.0 million to expand the company. The company is considerin •…
A: An earnings per share is the net income per share which the company has earned on the one share. It…
Q: heridan Industries had sales in 2021 of $6,256,000 and gross pr udget plans to increase its gross…
A: A sales budget is a financial plan that outlines the expected sales revenue for a specific period,…
Q: M & J Mechanical sells and services plumbing, heating, and air conditioning systems. M & J's cost…
A: Decision making in costing is the process of choosing one alternative out of the two available…
Q: ournalize period F
A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…
Q: Refer to the accounting information for Bonnie's Batting Cages (page 2 onwards) 1. Using the…
A: T accounts It is an informal term for a set of a financial records that uses double-entry…
Q: Irie Company prepares financial statements on a quarterly basis. The final set of financial…
A: Interim financial reports can be prepared for any period shorter than a full fiscal year, such as…
Q: January Smith purchased a printing press for $200,000 and claimed CCA over time. Her opening UCC…
A: CCA - Capital Cost Allowance: In tax accounting, CCA stands for Capital Cost Allowance. It refers to…
Q: please answer with working 1 . Record the year-end adjusting entry for the depreciation expense…
A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…
Q: Pharoah Inc. manufactures wood poles. Pharoah Inc. has two responsibility centres, harvesting and…
A: The decisions are made based on the contribution margin. The proposal that gives a higher…
Q: We have the following information for Sunny Ltd.: • from the marketing expenses account, £6, 250…
A: Total assets is always equal to the sum of total liabilities and stockholders' equity of the…
Q: Lily city uses a pay as you go approach for funding postemployment benefits other than pensions. The…
A: Enterprise fund states a separate mechanism of accounting as well as financial reporting for the…
Q: “qualified audit report” and an audit report with a “disclaimer of opinion”. Please give…
A: Qualified Audit opinion: The Auditor Shall Express Qualified opinion when, the auditor had obtained…
Q: ou and your friend just jointly purchased a new home for $1.5 million. You are paying a imple…
A: Mortgage interest is paid on mortgage amount but that amount is deducted from the income tax expense…
Q: First, determine the selling price to retailers in 2020. The selling price per pack to retailers in…
A: Selling price per pack is calculated by deducting the discount demanded by the retailer from the…
Q: Dr. Newel uses the straight-line method of depreciation for his “defibrillator” to conduct test for…
A: The selection of depreciation method by an entity depends on the nature of the asset, management…
Q: Lamar Company had the following transactions in 2013, its first year of operations. •…
A: The shareholder's equity comprises issued capital, Retained earnings, etc. The net income increases…
Q: Calculate the Gross Profit Margin based on these values: Sales Cost of Goods Sold 550,000 425,000…
A: GROSS PROFIT MARGIN Gross Profit is the Difference between Total Sales & Cost of Goods Sold.…
Q: Berry purchased a building (including land) for $711,000. Berry plans to use the building. The…
A: A journal entry is a record of all business transactions of the company. It records both side of…
Q: Madison Company sells its product for $6 a unit. Next year, fixed expenses are expected to be…
A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…
Q: You recently won a lottery and have the option of receiving one of the following three prizes: (1)…
A: An annuity is a financial product that provides a series of regular payments to an individual or…
Q: The items for the medical practice of Blossom, MD, are listed below. Retained earnings (October 1)…
A: Please find the required financial Statements of Blossom MD. in the Steps below.
Q: Solution: Philippine Tax Law on Transfer and Business Taxation. Problem 1: Below are the transfers…
A: Gross estate is the amount transferred upon the death of decedent to legal owner of that and fair…
Q: has 137 billion in excess cash in 2012. How mu
A: Assuming that the 5.6% interest rate and 10% annual growth rate of sales remains constant for the…
Q: With regards to different types of entities, which of the following statements is true? O DC3nsivel.…
A: A general partnership is an unincorporated business owned by two or more people. In many states,…
Q: On October 1, 2022, Harlan received a $15,000, six-month, 10% note in exchange for goods sold to…
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
Q: Coronado Company sells 8% bonds having a maturity value of $2,180,000 for $2,014,720. The bonds are…
A: Bonds are the debt securities that a corporation issues to raise money. The issue of bonds results…
Q: please do not provide solution in image format thank you!
A: A financial statement called a cash flow schedule displays the anticipated inputs and withdrawals of…
Q: Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022.…
A: Income from Self Employment = $60,000 Income from Full Time Employment = $202,000 As a freelance…
Q: fundamental principles outlined by MIA Bye-laws’ Part A.
A: Malaysian Institute of Accountants (MIA) Bye-laws were issued by the Council Of The Institute and…
Q: Which of the following statements regarding accounting methods is false? A. A C corporation with…
A: Accounting methods are the specific practices and procedures used by businesses to record financial…
Q: Which of the following would be in the work in process inventory of a company making ice cream?…
A: Lets understand the basics. Inventory is divided into various parts like, (1) Raw material inventory…
Q: m Really Cold Coat Company does not expect there to be any beginning ventories of filler and lining…
A: Variance refers to the difference between actual results and the budget or standard. this helps in…
Q: Meghan paid $9,212 for
A: In this question we will find out the medical dedution
Q: Part A: If Stacy Lynn wants to show the bank the maximum profit over the previous 2-year period,…
A: Introduction:- In this scenario, Stacy Lynn is preparing to meet with a bank to negotiate a credit…
Q: Wilco sells pencils for $20 per unit, has variable manufacturing costs of $5 per unit sold, variable…
A: Calculating the change in income for an entity typically involves comparing the income for two…
Q: All of the following affect the owner's equity account except a. additional investment b.…
A: The accounting equation states that assets equal to sum of liabilities and equity. The transactions…
Q: Required information [The following information applies to the questions displayed below] On January…
A: The lump sum paid to acquire different assets is allocated to different assets on the basis of fair…
Q: For each of the following separate situations, determine how much revenue is recognized in December…
A: Revenue - Revenue is recognized only on a accrual and only when earned by the organization. Revenue…
Q: Faith Manufacturing Inc began business five years ago producing “Kneepal”, a new type of medical…
A: The acquisition cost of the asset is a capitalized cost as it is depreciated and recorded as an…
Q: Journalize in a two column journal the adjusting entries required at December 31, 2020 1. Fees…
A: Answer:- Journal entry meaning:- In the company's books, a journal entry serves as a record of a…
Q: Zippy Shoe Company uses a periodic Inventory system. Zippy purchased 410 pairs of shoes at $77 each…
A: The various methods to evaluate inventory are classified as FIFO, LIFO and average method. The…
Q: Please explain proper steps by Step and Do Not Give Solution In Image Format And Fast Answering…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Complete the following without using Table12.1. Note: Round the "Total amount" and "Total interest" to the nearest cent. Principal: $1,360 Time (years): 1 Rate of compound interest: 10% Compounded: Quarterly Periods: Rate: % Total amount: Total interest: Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.25.97 1.2773 1.2950 1.3129 1.3310 4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877…Solve the following exercise by using the compound interest formula. Do not round intermediate calculations. Round your answers to the nearest cent. Principal Time Period(years) NominalRate % InterestCompounded CompoundAmount CompoundInterest $14,650 8 2.4 quarterly $ $Insert an answer for each of the following p= $ 3,200, r=.023, t= 3months. interest ? ________________________. p=$ 1,700, r=.055, t= 90 days. interest ? ____________________________. sales $ 3,790, returns $ 390, sales terms 2/10 n 30. discount ________________? and remittance ( paid) __________________________? ( assume paid in discount period)
- Complete the following without using Table 12.1. (Round the "Total amount" and "Total interest" to the nearest cent.) Principal Time (years) Rate of compound interest Compounded Periods Rate Total amount Total interest $575 1 4 % Quarterly %Insert the answer for each of the following: A. P=$4,500, r=.06, t=4 years. Interest ?__________________________. B. p= $ 3,200, r=.023, t= 3months. interest ? ________________________. C. p=$ 1,700, r=.055, t= 90 days. interest ? ____________________________. D. sales $ 3,790, returns $ 390, sales terms 2/10 n 30. discount ________________? and E. remittance ( paid) __________________________? ( assume paid in discount period)Complete or fill in the entire chart for the below annuities by filling in all the blanks # Payment and frequency (PMT) Time in years (n) Interest rate and compound frequency (I/Y) Present Value (PV) Future Value (FV) 6) $370.00 per end of quarter 9 years 5% compounded quarterly Not Applicable _______________ 7) $100.00 per month 5 years 6 % compounded monthly ______________ Not Applicable 8) $__________per year 8 years 12 % compounded annually $10,000 Not Applicable 9) $2,000 per quarter __________years 8.75 % compounded quarterly Not Applicable $112,181.65 10) $3,000 every 6 months 24 payments ____________% compounded semi-annually $50,000 Not Applicable 11) $_________ monthly 15 years 18% compounded monthly Not Applicable $1,000,0000 12) $1,690 every 3 months _________ years 2 ¼ % compounded quarterly…
- Complete the following using compound future value. (Use the Table provided.) Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Time: 3 years Principal: $17,100 Rate: 6% Compounded: Quarterly Amount: Interest: Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.25.97 1.2773 1.2950 1.3129 1.3310 4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877…What is the present value of 6 receipts of $3,170 each received at the beginning of each period, discounted at 9% compounded interest? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The present value $Solve by using compound table: (Round the "Total Amount" and "Total Interest" to the nearest cent.) Principal Time Rate of Compound When Compounded # of Periods to be Compounded Total Amount Total Interest $300 1 year 16% Quarterly
- n the credit account statement below, the values of the annual percentage rate (APR), finance charge, and the new balance must be calculated. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,026.61 1.75% $322.20 $300.00 Recall that the annual percentage rate (APR) is tied to the monthly periodic rate by the following formula. monthly periodic rate = APR 12 By solving this equation for the APR, the known value for the monthly periodic rate can be substituted to calculate the APR. APR = monthly periodic rate ✕ 12 The monthly periodic rate is given to be 1.75%. Find the APR. APR = 12 ✕ monthly periodic rate = 12 ✕ ____ % = ____%PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS1.- Now find the future or final value (FV) at compound interest of the amounts expressed in each item, taking into account the compound interest rate and its respective compounding period. Indicate separately the total amount of interest and the effective rate. a)$299,105 at 9.75% compounded quarterly for 16 years.b)$320,000 at 8.45% compounded monthly over 15 years.c)$1'909,900 at 8½% compounded semiannually over 13 years.d)$838,750 at 7½% compounded monthly over 10 years. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL) (only if required)Solve the following exercise by using the compound interest formula. Do not round intermediate calculations. Round your answers to the nearest cent. Principal Time Period(years) NominalRate % InterestCompounded CompoundAmount CompoundInterest $900 5 5.5 annually $ $
