If the bank compounds interest annually, how much will you have in your account on January 01, 2021?
Q: How much is Interest Revenue to be recognized in 2021?
A: After accounting for the amount due and the rate in effect, the interest revenue is recognized on a…
Q: In 2018, Lakers Corporation acquired 3,000 shares of its P 20 par value ordinary share capital at…
A: Treasury shares are those shares which are being reacquired or repurchased by the company from its…
Q: Selected comparative financial statements of Korbin Company follow. Sales Cost of goods sold Gross…
A: Income statement is the financial statement which is prepared by the entity for reporting and…
Q: Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first…
A: Journal entry is the primary step to record transactions in the books of accounts. The total of…
Q: The van dusens have a combined net annual income of $65,000. They have savings of $37,000. Non…
A: There is need of savings after doing all expenses because you have to save for the future for…
Q: on 4 Obinson Corp., which operates on a calendar year, expects to sell 1380 units in October, and…
A: In the given question, sales are increases in the number units, by 130 units every month and the…
Q: journal entrie
A: The two journal entries that are to be recorded for the year 2 - ASC 740 provision are: 1. The tax…
Q: $800,000. If he received $200,000 in cash and 100 shares of stock, the resulting bases are: O Elon's…
A: Whenever a Business Entity sold goods or provide services, it receive something in consideration.…
Q: Determine respective amount of discount, amount payable and maturity date for the following dating:…
A: The discount amount and the date of maturity for the invoices have to be computed as per the terms…
Q: The following information relates to the defined retirement benefit plan of Integrity Company as of…
A: Accrued retirement benefit cost is one of the non current liability reported in the balance sheet of…
Q: Martinez Co. borrowed $69,569 on March 1 of the current year by signing a 60-day, 7%,…
A: From March 1 to April 30 = 60 days Interest is paid on the funds used by the business to generate…
Q: Nexis Corp. issues 2,870 shares of $8 par value common stock at $17 per share. When the transaction…
A: Common stock can be issued at more price than the par value of the shares. The premium on in excess…
Q: PLEASE ANSWER ALL WITH SOLUTIONS TY
A: Standard costing includes the computation of variances in the budgeted plans and the actual reports…
Q: On January 1, 2021, Madison Products issued $70 million of 6%, 10-year convertible bonds at a net…
A: A bond is a borrowing security issued by a company ta raises funds from the market by making an…
Q: Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2022. She is 45 years…
A: Here discuss about the details of calculation of taxable income after making the adjustment from the…
Q: Victory Company uses weighted average process costing. The company has two production processes.…
A: Direct material means the cost which is incurred on the purchase of the direct material that are to…
Q: Concord Engines Ltd., a private business following ASPE, operates small engine repair outlets and is…
A: Deferred tax asset (DTA) refers to the increase in assets those arise from the overpayment and…
Q: 3 FYE Dec Cash & Cash Equivalents 5 Loans Held For Sale - Other 6 Loans Held for Sale Allowance for…
A: According to the given question, we are going to determine the total current asset for capital from…
Q: what is the intrinsic value of the asset after accounting for the cost of illiquidity?
A: Given in the question: Purchase price of the asset = P1,200,000 The value of the asset has been…
Q: Prepare the depreciation schedule for the machines using double decline method over 4 years from…
A: Depreciation is the reduction or decrease in value of fixed assets over the period of time. Several…
Q: Net cash flows from investing activities for the year were
A: Cash flow statement of a company includes 3 sections these are Operating section, Investing section…
Q: In April 2019, Mario purchased a new refrigerator for $700 and placed it in service in his rental…
A: Section 1245 assets: Comprises personal property used in trade or business and held for over 12…
Q: Required: 1. Compute the operating income for the first year under full costing. 2. Compute the…
A: Full Costings :— it is also known as Absorption Costing. It is Costing system which treats all…
Q: DO IT! 13.1a (LO 1), C Indicate whether each of the following statements is true or false. If false,…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Huey Company acquires 100% of the stock of Solar Corporation on January 1, 2019, for $2,400,000…
A: A bond is a type of security under which the issuer owes the holder a debt, and is obliged –…
Q: What is the difference of segment reporting and operating segments? Are they interrelated? Please…
A: Introduction: The inclusion of a company's current segments in the disclosures that accompany its…
Q: Onslow Company purchased a used machine for $240,000 cash on January 2. On January 3, Onslow paid…
A: Depreciation represents the reduction in the value of an asset over a useful life of the asset. It…
Q: he following accounts are shown on the statement of financial position of Phoenix Corporation…
A: Treasury stocks are, generally, those stocks that are bought back from their own shareholders. It…
Q: plain what Real Property Gains Tax is in a Malaysian context and its basis of taxation.
A: The government in order to control the prices of property and prevent bubble in property there are…
Q: If a fixed asset, such as a computer, were purchased on January 1st for $2,482 with an estimated…
A: Depreciation is charged on the depreciable fixed assets based on their useful life. Salvage value…
Q: Adrian pays #848719 cash and the balance in 44 quarterly payments of $34211 for a house and lot. If…
A: Cash value of house will be cash payment plus present value of 44 quarterly payments.
Q: Create a spreadsheet with an output section that: (a) determines the overhead application rate per…
A: There are various overheads costs incurred by the Business entity to Complete the Manufacturing of…
Q: Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 14,650 $ 14,650 $ 55,900…
A: In question it is not specified that in which capacity reba is filling the return. The expert use…
Q: Provide the mandatory information to be included in a tax invoice under the Sales Tax Act 2018.
A: A tax invoice is the invoice of the sale of the goods which has been issued by the seller of the…
Q: Maria Am Corporation uses the weighted-average method in its process costing system. The Baking…
A: The total cost to be accounted is the sum of cost in beginning work in process inventory and the…
Q: Yoshi Company completed the following transactions and events involving its delivery trucks. Year…
A: Depreciation is the non-cash expense which is reported in the books to record the regular usage of…
Q: b. What do you think would be the best course of action in this situation? Explain.
A: When a division Transfer goods internally to the other divisions, then transfer is made at agreed…
Q: Company A provides a bundled service offering to Customer B. It charges Customer B $800,000 for…
A: There was a five step model framework to recognize revenue from contracts 1. Identify the contract…
Q: Prepare journal entries to record these events (including the amortization of the cost of the van)…
A: This question belongs the the 'Not-for-Profit Organizations. Not-for-Profit Organizations are…
Q: Marga, David and Anna are partners with capital balances of P784,000, P2,730,000 and P1,190,000…
A: A partnership is a kind of business structure in which two or more people agree to carry out…
Q: Can you explain some impacts of implementing software-based AIS (Accounting Information System) on…
A: Accounting information system (AIS) which helps in gathering, processing as well as storing the…
Q: Based on the above analysis, give some recommendations to the management of the company.
A: AIS refers to the Accounting information system which helps in collecting, processing as well as…
Q: Debra Moore needs $20,000 3 years from now. How much should she invest today in order to reach her…
A: Answer : Future value = $20,000 Interest rate = 6% n = 3 Years Calculation of Present value :…
Q: Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the…
A: Depreciation expense = Cost - Salvage valueEstimated useful life
Q: Favorite Food Systems Inc. Favorite Food Systems Inc. which was founded by John Favorite in 1994, is…
A:
Q: Compute Payroll An employee earns $20 per hour and 1.75 times that rate for all hours in excess of…
A:
Q: On January 1, 2012, Horizon Group sold property carried in inventory at a cost of P1,470,000 for…
A: installment method is method of revenue recognition in which gross profit is deffered until the…
Q: 32 FYE Dec 33 34 Cash & Cash Equivalents 35 36 37 Loans Held For Sale - Other Loans - Held for Sale…
A: Current liability: It implies to a borrowing or debt that has to be repaid by the borrower within a…
Q: 1. T.J. Chan, an engineering consultant, decided to begin a business of his own. Chan has set up the…
A: Company at the end of any period or monthly wants to measure the performance and position and the…
Q: How much is the Defined Benefit Liability/Asset at December 31, 2021?
A: The computation of employee benefit expenses will be as per the standard laid down in IAS-19
If the bank compounds interest annually, how much will you have in your account on January 01, 2021?
Step by step
Solved in 2 steps with 2 images
- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- Can the 10,000 note be repaid on May 1? Explain.If you had deposited $1 in a bank account at an annual rate of 3.5%, at the beginning of 1905. How much would you have in the account at the end of 2019, assuming the interest rate remained constant?If the bank is paying 12% interest compounded semiannually, how much must you deposit today in your account if you wish to have $18,000 at the end of two years?
- It is now January 1, 2018. You will deposit $1,000 today into a savings account that pays 8 percent.a. If the bank compounds interest annually, how much will you have in your account on January 1, 2021?b. What would your January 1, 2021, balance be if the bank used quarterly compounding? c. Suppose you deposit $1,000 in 3 payments of $333.333 each on January 1 of 2019, 2020, and 2021.How much would you have in your account on January 1, 2021, based on 8 percent annual compounding?d. How much would be in your account if the 3 payments began on January 1, 2018? e. Suppose you deposit 3 equal payments in your account on January 1 of 2019, 2020, and 2021.Assuming an 8 percent interest rate, how large must your payments be to have the same ending balance asin part a?You decide to make monthly $2000 deposits into an account that pays 4% compounded monthly. If your first deposit was on January 1, 2019, then how much is in the account immediately after the deposit on January 1, 2025?You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account earns7% interest per year, what will be the balance in the account right after you make the second deposit?
- It is now January 1, 2018, and you will need $1,000 on January 1, 2022, in 4 years. Your bank compounds interest at an 8% annual rate.a. How much must you deposit today to have a balance of $1,000 on January 1, 2022?b. If you want to make four equal payments on each January 1 from 2019 through 2022 to accumulate the $1,000, how large must each payment be? (Note that the payments begin a year from today.)c. If your father offers to make the payments calculated in part b or to give you $750 on January 1, 2019 (a year from today), which would you choose? Explain.d. If you have only $750 on January 1, 2019, what interest rate, compounded annually for 3 years, must you earn to have $1,000 on January 1, 2022?e. Suppose you can deposit only $200 each January 1 from 2019 through 2022 (4 years). What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2022?f. Your father offers to give you $400 on January 1, 2019. You will then make six additional equal…It is now January 1, 2018, and you will need $1,000 on January 1,2022, in 4 years. Your bank compounds interest at an 8% annual rate.a. How much must you deposit today to have a balance of $1,000 on January 1, 2022?b. If you want to make four equal payments on each January 1 from 2019 through 2022 to accumulate the $1,000, how large must each payment be? (Note that the payments begin a year from today.)c. If your father offers to make the payments calculated in part b ($221.92) or to give you$750 on January 1, 2019 (a year from today), which would you choose? Explain.d. If you have only $750 on January 1, 2019, what interest rate, compounded annually for3 years, must you earn to have $1,000 on January 1, 2022?e. Suppose you can deposit only $200 each January 1 from 2019 through 2022 (4 years).What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2022?f. Your father offers to give you $400 on January 1, 2019. You will then make six…if you deposit $190, $250, and $300 in a savings account at the end of the years 2017, 2018, and 2019 respectively how much money will be there in the account at the end of 2019 if you earn an interest of 5.3% per year on your savings?
