You deposited PHP5,500 in a bank with an interest rate of 6% for l year. What is the uture value of your deposit?
Q: Vulcra, Inc., has a semimonthly payroll of $67,960 on September 15, 20--. The total payroll is taxab...
A: FICA Taxes Payable-OASDI rate = 6.2% FICA Taxes Payable-HI rate = 1.45% FUTA rate = 0.6% SUTA rate =...
Q: Slow Running Shoes uses the Aging of receivables method to account for uncollectible accounts. The ...
A: The balance sheet represents the financial position of the company that includes the assets, liabili...
Q: Cozy Corporation purchased supplies at a cost of $24,000 during the current year. At January 1, sup ...
A: Supplies expense is the cost of items used during a reporting period. This could be one of the more ...
Q: Pronghorn Inc. issued 4.200 of its common shares common shares for $ 4.90 each. The company incurred...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: The production manager of Rordan Corporation has submitted the following quarterly production foreca...
A: Total direct labor hours needed = Units to be produced ×Direct labor time per unit
Q: Relax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers are ...
A: Closing journal entries: Date Account Titles Debit Credit Dec 31 Service revenue $625,000 ...
Q: Relax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers are ...
A: The income statement explains the financial performance of the company for a particular period of ti...
Q: Question 2. Debackere Construction Corp. contracted with Aggretsuko Inc. to build a karaoke machine ...
A: Contract costing refers to identifying costs related to a contract with a customer and recognizing r...
Q: Hindenburger, Inc., began operations on January 1. It made 5,000 burgers and sold 4,000 of them. Hin...
A: Introduction:- A cost is the amount of money that has been spent to create something or provide a se...
Q: What are: Relevant / irrelevant / Differential Costs Relevant / irrelevant / Differential Revenues...
A: Relevant / Irrelevant / Differential Costs: Relevant Costs are the cost which are relevant in decis...
Q: Perform a solvency analysis for the two quotas
A: Ratio analysis is one of the analysis technique that is used by the accountants and decision makers,...
Q: Mary, a widow, died in 2022. Her personal representative filed a federal estate tax return showing t...
A: As you asked multiple questions,but as per our company policy we are giving answer to first question...
Q: Activity No. 04 - Transaction Effects on the Basic Accounting Model Instruction: For each transactio...
A: Accounting equation says that total assets should always be equals to total liabilities and equities...
Q: 1. Prepare a journal entries to record the start of the licensing agreement on January 1, 20X1 in it...
A: SBITA are subscription based information technology arrangements. These are accounted in similar way...
Q: A company bought an equipment costing AED 200,000. How much will the company makes in profit every y...
A: solution Given cost of equipment =200000 interest rate =6% To recover the expense the present valu...
Q: On November 5,2019, ABC Corporation’s truck was in an accident with an auto driven by Mikey. ABC rec...
A: Let's understand some basics The general concept of accrual accounting is that economic events are r...
Q: lyse the ation. Smith owns a small business that sells vuvulezas to s . them at RIO each and sells t...
A: Accounting equation refers to the equation that forms the basic of accounting and it states that the...
Q: Pluto Ltd meets the criteria of a "close company" for corporation tax purposes: Ivor, who is a share...
A: This given case is related to the close company given loans to participator. The Penalty tax rate is...
Q: On January 1, 2020, Shell Corporation acquired the net assets of Petron Inc. The acquirer transferre...
A: 1. Value of contingent consideration shall be the additional pay of P 1500000 which would be paid if...
Q: Johnson’s Boat Yard, Inc., repairs, stores, and cleans boats for customers. It is completing the acc...
A: 1. Adjusting Entries - Adjusting Entries are the entries that make the accrual principle work for th...
Q: What amount of loss should DEF accrue at December 31, 2021?
A: Contingent liability refers to those liability of a company which is occurred due to the result of a...
Q: Creditors will use the financial statements for preparation of short-term and long-term plans. True...
A: The Creditors are the one to whom we have to pay in near future. The creditors are classified as bot...
Q: In connection with your audit of the financial statements of the Pin Shop Company for the year 2020,...
A: When the investment in stocks is held for trading purposes then the value of the investment is adjus...
Q: Can you think of construction contractors who can use the Completed-Contract method on a regular bas...
A: The completed contract method of revenue recognition. It refers to a method in which all of the reve...
Q: With solution and explanation please
A: FIFO approach means first in first out refers to the shares purchases first sold first. Average appr...
Q: DEF company acquired the assets and assumed liabilities of GHI Company on January 1, 2022 by paying ...
A: Calculate fair value of liabilities acquired: Amount (P) Book value of liabilities ...
Q: 2. You need to save up for P5,500 in I year. How much should you save now if the bank offers a rate ...
A: >Present value is the value of future value that can be earned today. >This can get calcul...
Q: 5. For each of the following, give the number of hours the employee must receive straight pay and ov...
A: Week is 40 hours from Monday to Friday ie 8 hours a day Antonio's works 40 hour work in M-F, Wor...
Q: 18. How much is the income of Tours4fun after taking into account all transactions? O 14,800 O 15,80...
A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger mean...
Q: PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial...
A: Solution Ordinary shares are the stocks sold on a public exchange . Each share of a stock generally ...
Q: The following events occurred in Fresh Cleaning Company in December 2021: (1) A customer has purchas...
A: Solution Accounting principle are the rules and guidelines that companies must follow when operating...
Q: Fly-Buy Aircraft sells a wide variety of model aircrafts and uses a perpetual inventory system. On J...
A:
Q: [True or False] L. Hill, a sole trader, invests the following assets in a new partnership: $15,000 i...
A: Lets understand the basics. Partnership is an agreement between two or more person who works togethe...
Q: The result of financial statement analysis may reflect the effectiveness of management in handling t...
A: Financial analysis helps in analyzing and interpreting the statement of business it helps in determi...
Q: Case 2: Non-Controlling Interest measured at fair value Inahan Co. elects the option to measure the ...
A: 1. Transaction cost incurred = fair value of land - book value of land =P1000000-P750000 = P 250000...
Q: Illustration 1. Measuring Goodwill/Gain on Bargain Purchase On January 1, 2021, Amahan Co. acquired ...
A: Business acquisition is an act of buying the business of another company either way full interest or...
Q: Which of the following reclassifications of financial assets is permitted under PFRS 9? a. reclass...
A: Solution As per IFRS 9 , reclassification is allowed only when an entity changes its business model ...
Q: A resident citizen taxpayer sold a principal residence located in the Philippines. Other data regard...
A: Introduction: The net price is the price at which a product or service is sold after all taxes and o...
Q: Adelphia Brokers, a full service brokerage house, brought in William N. Thomas, a specialist in fina...
A: Lets understand with the basic. Here in this case, we are required to calculate the total cost of th...
Q: Please answer in 30 mins. You have been working with the Humber Room Restaurant to determine the bes...
A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit t...
Q: Depreciation is the allocation of the cost of a plant asset over its useful life in a rational and s...
A: Depreciation is charged on assets for reducing their value which is a result of the use of the asset...
Q: occurring at the end of the year. Find the payback period for both these projects. Year Project 1 Pr...
A: Payback period - The duration of the project life with in which the initial investment is return bac...
Q: The most recent financial statements for Kerch, Incorporated, are shown here (assuming no income tax...
A: External finance needed = Total assets - Debt - Equity Total Assets = Total equity + Total liabiliti...
Q: E18-4 Vertical analysis of a balance sheet [10–15 min] Beta Graphics Pty Ltd has the following data:...
A:
Q: B. CAPITAL BUDGETING Situation: Assume that you are planning to invest for the expansion of your bus...
A: NPV : Net present value, or NPV, is used to calculate the current total value of a future stream of ...
Q: 455,000 32 during the vear?
A: As per the accounting equation Total Asset= Total Liabilities + Owners Capital Owners Capital is the...
Q: Assume that sales revenue in 2022 changed to $755,00 and cost of goods changed to $512,000. Income t...
A: Step 2 in the solution
Q: Illustration 1. Measuring Goodwill/Gain on Bargain Purchase On January 1, 2021, Amahan Co. acquired ...
A: Goodwill is an intangible asset that is associated with the purchase of one company by another. Spec...
Q: A and B established a company, if profit after first year was USD 900,000 find below: How much A and...
A: Lets understand the basics. When two person starts a business together then they are having a profit...
Q: Commercial Solutions Company manufactures a cleaning solvent. The company employs both skilled and...
A: Labor mix variance measures the deviation of labor cost due to labor mix. The formula for labor mi...
Step by step
Solved in 2 steps
- You 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.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 $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.
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You deposited PHP1,500 in a bank with an interest rate of 5% for 1 year. What is the future value of your deposit?
- An investor deposits €10,000 in a bank account that pays simple interest at a rate of5. What will the deposit have accumulated to after 3 years?how much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of 80,000 in 5 years and 9 months ?You put 8,293 in the bank for 11 years at 5% what factor would you use to calcuate the future value of your deposit?
- How much should be deposited deposited in a bank paying 1.15% compounded semi – annually to accumulate an amount of ₱ 80,000.00 in 5 years?A man borrowed Php200000 from his friend and agreed to pay years at an interest rate of 10% per annum. How much should the man deposit monthly in a bank in order to discharge his debt, if the bank offers 6% annual interest rate?If a nine month term deposit at a bank earn a simple interest rate of 9% per annum, how much should be deposited to earn Php225 of interest?