Tristan will deposit $254 into an account every two weeks (26 times per year). The account earns an APR of 4.1%. If Tessi Jo does this for 10 years, how much money will the investment be worth? Round to the nearest whole number.
Q: Mobilee Oil Company accepted a $10,000, 120 day note dated March 3 at 8 1/2% to settle a past due…
A: The note receivables is a promise from the creditor to pay the amount with interest on the due date.…
Q: On October 1, Year 1 Hernandez Company loaned $60,000 cash to Acosta Company. The one-year note…
A: Journal entries for accrued interest income: Interest receivable account is debited and Interest…
Q: Munoz Company and Perez Company both apply overhead to the Work in Process Inventory account using…
A: Predetermined Overhead Rate :— It is calculated by dividing total estimated overhead cost by…
Q: Traditional overhead allocations result in which of the following situations? Group of answer…
A: Overhead allocation is one of the technique which is used to distribute indirect costs among several…
Q: Buried Treasure Co.'s relevant range of production is 7,000 units to 13,000 units. When it produces…
A: Solution: Variable cost per unit sold = Direct materials + Direct labor + Variable manufacturing…
Q: Oscar Corporation issues 500 shares of preferred stock with a $100 per share par value and annual…
A: Introduction: Preferred stock holders have the preference over common stock holders on (1)…
Q: In a manufacturing company where the Procurement Department largely buys items for production, the…
A: Solution: To start the procurement activity, procurement department should received requirement…
Q: TFP Electric is a profitable utility company that has increased its dividend to common stockholders…
A: Common stockholders are the stockholders, who don't have any fixed right. Common stockholders get a…
Q: Mary Alexander is a sole trader who operates a small wholesale business in Kingston, Jamaica. On…
A:
Q: Paper Company receives a $6,000, 3-month, 6% promissory note from Dame Company in settlement of an…
A: When the company sold goods to its customer on credit then Account Receivables are debited and when…
Q: are considering the purchase of a hybrid vehicle. Let's assume the following facts. The hybrid will…
A: Unit variable cost can be calculated using following formula: Cost of gas per gallon / miles…
Q: CVP analysis relies on the assumptions that costs are either strictly fixed or strictly variable.…
A: Introduction:- Cost-volume-profit analysis is used to measures how changes in variable and fixed…
Q: BSBA Company produced two joint products A and B. and by-products C and D from the same raw…
A: Joint costs are those products that get manufactured jointly, and by product are those product that…
Q: When computing the cost per equivalent unit under the wighted-average method of process costing, the…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: Harding Corporation acquired real estate that contained land, building and equipment. The property…
A: Workings :- 1) Calculation of total appraisal value :- Appraisal value of the land + building +…
Q: If the ShoeFits, Inc is a Shoe Manufacturing Company located in Laguna. In deciding their 4th…
A: Introduction: Actually total manufacturing cost includes direct material cost, direct labor cost,…
Q: Ramort Company reports the following for its single product. Ramort produced and sold 20,600 units…
A: Under variable costing, contribution margin is separately shown based on variable cost. Contribution…
Q: Year 1, Fossil Energy Company purchased an oil producing well at a cash cost of $7,140,000. It is es…
A: Depletion cost refers to the expense bear by a company in order to extract any natural resources…
Q: On December 31, 2018, Ava Company had an ending balance of $8063 in its accounts receivable account…
A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.…
Q: TRUE OR FALSE Outstanding shares are the number of shares sold or conveyed to owners.
A: Shareholders - Shareholder is the person or an entity holding shares of the company. The person…
Q: December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would…
A: Under allowance method, bad debt recovered will first reinstated that means accounts receivable…
Q: Condensed income statements for Jennifer Corporation are shown below for two years. Sales Cost of…
A: NOTE: * = When the ending inventory of 2021 will be overstated, the cost of goods sold for 2021…
Q: Assume that AB Tire Store completed the following perpetual inventory transactions for a line of…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Elliston Company accepted credit card payments for $10,000 of services provided to customers. The…
A: ANSWER:- 4th option is correct Increase stockholders equity (retained earnings) by $9,700 Service…
Q: (a) The Sales Budget for both products for January to March 2017.…
A: ASSUMPTIONS- 1. while calculating production budget the beginning inventories are taken which are…
Q: Brightstone Tire and Rubber Company has capacity to produce 170,000 tires. Brightstone presently…
A: a. Differential analysis dated January 21 on whether to reject (Alternative 1) or accept…
Q: Current Attempt in Progress Presented below is information related to Waterway Corp. August 1 5 9…
A: The simplest approach to maintain track of a business transaction is through journal entries. The…
Q: Assume that B R Toys store purchased and sold a line of dolls during December as follows: (Click the…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: thank you for the above help. but i still need help with one part. c) sold the bonds at 97 plus…
A: Gain or loss on sale of investment is the difference between the cash proceed from the sale and the…
Q: On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $29,000.…
A: DEPRECIATION Depreciation is the Decrease in the Value of Assets over the time due to use, wear…
Q: Morganton Company makes one product and it provided the following information to help prepare the…
A: Cash budgeting process is meant to identify the cash needs for each month. This helps to identify if…
Q: Fit-for-Life Foods reports the following income statement accounts for the year ended December 31.…
A: INCOME STATEMENT Income Statement is one of the important financial statements of the Company.…
Q: Required information CP9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three…
A: The accounting method of depreciation may be used to stretch out the expense of a tangible object…
Q: If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to…
A: Fixed manufacturing costs, such as rent, insurance, and property taxes, do not vary with production…
Q: Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2 Rundle…
A: Manufacturing Overheads - Expenses other than Direct Material and Direct Labour that are indirectly…
Q: In 2020, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding…
A: Every country has its taxation law about deductions, taxable income, etc. Individuals, firms, and…
Q: Based on thesame background example (BACKGROUND The company ABC, L. C. manufactures some products…
A: NPV is defined as the total value of the project that comes after accounting for time value of money…
Q: A company purchased a machine for RO 10,000. It has a book value of RO3,000 but has become obsolete…
A: Book value of the machine = RO3,000 As it became obsolete it cannot be sold in the present condition…
Q: Pine Street Inc. makes unfinished bookcases that it sells for $59. Production costs are $38 variable…
A: Whether a product should be further processed or not? If further processing cost is less than the…
Q: What is the difference between a note and a bond?
A: Both Note and bond are issued by treasury.These are interchangeably used terms as there is no legal…
Q: High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and…
A: A variable cost is one that changes depending on how much is produced or sold by the business.…
Q: On July 18, Aui accepted a $15,000, 7¾%, 180-day note from Ryan. On October 5, Aui discounted the…
A: Interest is the fee a business pays a borrower (creditor) for a loan. Although there are many…
Q: The net effect of the entries to recognize the write-off under the allowance method is to: Multiple…
A: Solution: When accounts receivables is written off using allowance method, allowance for doubtful…
Q: ear on 30 April 2019. fees earned during the year fees owed by clients at 30 April 2019 cost of…
A: Profit refers to the sum value of money earned by a company by selling its products or services to…
Q: Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash budget is the statement which is prepared for determining the cash receipts and payments for a…
Q: Laura Avila is a 20-year-old female who recently graduated from CNM with her associates degree in…
A:
Q: a. (*) What is Dulaney's current profit margin? What is its current yearly ROA? b. (**) Suppose COGS…
A: Given in the question: Sales $50,000,000 Cost of Goods Sold $30,000,000 Pre-tax…
Q: What are the correct deductions for Social Security, Medicare, and FIT?
A: Given in the question: Prior to payroll check $1,40,000 Weekly Pay $4,100…
Q: record a journal entry worksheet
A: It has been asked to make the journal entry worksheet so all the journal entries regarding the…
Q: Palmer Cook Music Productions manages and operates two bands. The company entered into the following…
A: Journal entries refers to the entries which are passed by the companies at the end of the accounting…
Tristan will deposit $254 into an account every two weeks (26 times per year). The account earns an APR of 4.1%. If Tessi Jo does this for 10 years, how much money will the investment be worth? Round to the nearest whole number.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the account earns 17%, how much will be in the account at the end of the 20years? Once attends church once in a year during the watch night and uses the occasion to pay his tithe of GH¢50. Assuming his tithe account in Heaven grows at the rate of 24% what is the PV of his investment if he lives for the next 20 years. Smart heard about the Ghana Govt’s ‘Smart Borrowing’ concept and borrowed GH¢15,000 to have a successful wedding and pledged his wife & future uncertain children as collateral security. He wants to pay off the loan in 12 monthly instalments otherwise the bank will come for his wife & children born to them since they were pledged as collateral for the loan. What should the monthly repayments be if the annual interest rate is 18%?Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the account earns 17%, how much will be in the account at the end of the 20years? Once attends church once in a year during the watch night and uses the occasion to pay his tithe of GH¢50. Assuming his tithe account in Heaven grows at the rate of 24% what is the PV of his investment if he lives for the next 20 years. Smart heard about the Ghana Govt’s ‘Smart Borrowing’ concept and borrowed GH¢15,000 to have a successful wedding and pledged his wife & future uncertain children as collateral security. He wants to pay off the loan in 12 monthly instalments otherwise the bank will come for his wife & children born to them since they were pledged as collateral for the loan. What should the monthly repayments be if the annual interest rate is 18%? Godfred & Sam are both at 40. At 20, Sam started saving GH¢100 per month at a bank that pays him 10% per annum towards his retirement. 10 years…Derek will deposit $255.00 per year into an account starting today and ending in year 21.00. The account that earns 8.00%. How much will be in the account 21.0 years from today?
- Susan plans to make an investment today which promises to return to her $3,000 each year for ten (10) years beginning one year from today. The investment account will earn 6% compounded annually. At the end of ten years, the investment account balance will be zero.Question: Rounding to the nearest whole dollar, what should be the amount of Susan's original investment?Jill wants to make a few deposits so that she can withdraw $5000 per year at the end of each year for the next 15 years. A deposit of X is made a year from now, a second deposit of 2X is made at the end of year 4, and a deposit of (X/2) is made at the end of year 8. What is the amount of X if the goal is to empty the account? Use 6% interest.Kurt wants to have RM25,000 in an investment account four years from now. The account will pay 0.2 percent interest per month. If he saves money every month, starting one month from now, how much will he have to save each month to reach his goal?
- Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual compound interest rate of 1.2% with monthly compounding, how much should she deposit today? Round your answer to the nearest dollar.Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly deposits of $ 80 to the account. If the account earns 3% interest compounded monthly, how much money will she have in the account in 6 years?Suppose that Jacob would like to invest at the end of each month for the next 15 years into an account paying 6.72% compounded monthly in order to accumulate $10,000 at the end of that time? How much money must Jacob deposit into the account each month? How much interest will he have earned?
- Sidney makes 10 annual deposits of 5,500 each into an investment account. The interest rate is 6% per year for the first 5 years and 10% per year thereafter. What is the future worth the deposits? Show workwhat effective annual rate of return would rayne need to earn if she deposits 1,000 per month into an account beginning one month from today in order to have a total of 1000000 in 30 years?Derek will deposit $4,619.81 per year for 13.77 years into an account that earns 14.27%, The first deposit is made next year. How much wil be in the account 43.96 years from today?