The information necessary for preparing the 2024 year-end adjusting entries for Winter Storage appears below. Winter's fiscal year- end is December 31. 1. On October 1, 2024, Winter Storage lent $150,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2025. 2. On November 1, 2024, the company paid its landlord $34,500 representing rent for the months of November through January. Prepaid Rent was debited for the entire amount. 3. On August 1, 2024, Winter Storage collected $39,000 in advance rent from another company that is renting a portion of Winter Storage's building. The $39,000 represents one year's rent, and the entire amount was credited to Deferred Revenue. 4. Depreciation for the year is $27,000. 5. Vacation pay for the year that had been earned by employees but not paid to them or recorded is $17,000. The company records vacation pay as Salaries Expense. 6. Winter Storage began the year with $35,000 in its Supplies account. During the year $71,000 in supplies were purchased and debited to the Supplies account. At year-end,supplies costing $31,000 remain on hand. Required: Prepare the necessary adjusting entries on December 31, 2024. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet
Answers
The adjusting entry will be as follows: 1. dr Interest Receivable 3000 cr Interest Revenue 3000 2. dr Rent Expense 31500 cr Prepaid Rent 31500 3. dr Rent Revenue 7500 cr Unearned Rent Revenue 7500 4. dr Depreciation Expense 27,000 cr Accumulated depreciation 27,000 5. dr Salaries Expense 17,000 cr Salaries Payable 17,000
Making adjusting entries at the conclusion of each accounting period is a vital stage in the accounting cycle. An adjustment entry is one that is created to properly allocate each accounting period's income and expense amounts. In order to ensure that the financial accounts at the end of the year are correct and current, it updates previously recorded journal entries.
A general ledger entry known as a "adjustment journal entry" is made at the conclusion of an accounting period to report any unrealized income or costs during the time.
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Related Questions
Large businesses depend on small businesses why?
Answers
Answer:
Small businesses can signal emerging trends and needs to large businesses
Rosario Department Store uses a perpetual inventory system. Data for product
E2-D2 includes the following purchases.
Number of Units 50
Unit Price $10 $30
May 7
July 28
On June 1, Rosario sold 26 units, and on August 27, 40 more units. Prepare the perpetual
inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and (c) moving-average
Answers
The perpetual inventory schedule using FIFO shows a balance of 64 units and a cost of goods sold of $660, using LIFO shows a balance of 64 units and a cost of goods sold of $1,980, and using the moving-average method shows a balance of 64 units and a cost of goods sold of $1,320.
To prepare the perpetual inventory schedule using FIFO, LIFO, and moving-average, we need to track the purchases, sales, and remaining inventory for the product E2-D2. Let's calculate the inventory schedule for each method:
(a) FIFO (First-In, First-Out):
Using the FIFO method, we assume that the first units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $10/unit * 26 = $260
July 28 - 24 units -
August 27 40 units 64 units $10/unit * 40 = $400
The balance at the end of August 27 is 64 units, and the cost of goods sold is $260 + $400 = $660.
(b) LIFO (Last-In, First-Out):
Using the LIFO method, we assume that the last units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $30/unit * 26 = $780
July 28 - 24 units -
August 27 40 units 64 units $30/unit * 40 = $1,200
The balance at the end of August 27 is 64 units, and the cost of goods sold is $780 + $1,200 = $1,980.
(c) Moving-Average:
Using the moving-average method, we calculate the average cost per unit based on all purchases. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $20/unit * 26 = $520
July 28 - 24 units -
August 27 40 units 64 units $20/unit * 40 = $800
The balance at the end of August 27 is 64 units, and the cost of goods sold is $520 + $800 = $1,320.
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Describe how sales and consumer-related legislation and regulations affect the delivery of customer service
Answers
Health and safety legislation affects customer service delivery as it requires staff in an organization to ensure the safety of themselves and others, and act responsibly.
There are many perspectives like Changes to tax regulations and rates can have a significant impact on a business. For example, a fall in the rate of corporation tax reduces the amount of tax that corporations have to pay on their profits.
Customer service staff who deal with customers should know about the impacts and effects of legislation and regulations that protect the consumer when buying goods and services.
Governments issue regulations related to environmental practices, employee practices, advertising practices, and much more.
Government regulations affect how companies structure their businesses, where companies decide to locate, how they classify their employees and thousands of other things.
Environmental regulations, intended to protect human health and the environment, generally result in higher production costs and lower productivity in firms, which can lead them to shift investment and production to less stringent locations.
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What is a list of a business employees and how they are to be compensation
Answers
Answer:
1. Base pay package
A base pay package is a standard amount of money an employee receives in exchange for working a set number of hours (typically 40 hours per week). Employees who receive a base pay package are paid an hourly wage or a salary. Although most employees work for base pay, whether they are salaried or hourly employees depends on their role. "An employee working on a project or with defined tasks will usually prefer a base salary package," Jeremy Jarry, CEO of stock-option consultancy B3GIN, told business.com. "Hourly-type packages are often for entry-level positions or low-paying jobs."
2. Commission package
A commission package is compensation given based on employee performance. Some commission packages include a low base-pay salary and high commissions, whereas others offer only commissions. A commission package incentivizes employees to perform well, since their paycheck is tied to their performance. "Often, these compensation packages are given to individuals working in sales," Jarry said. "They will receive a percentage on the turnover they generate or a flat dollar amount if they hit a sales target."
3. Equity package
Equity packages are typically offered to employees in leadership positions or for hard-to-recruit profiles. However, Jarry said giving every employee access to stock options can create a culture of sharing and inclusion, as well as align the interests of investors, founders, and employees. "Equity will vary by organization and may be used as a larger component if cash is tight (e.g., at a startup) and as a method to incentivize employee retention," Roy said.
4. Benefits package
includes additional perks that workers receive on top of their base wages. There are a few employee benefits you are legally required to offer, including family and medical leave, health insurance (for companies with 50 or more full-time employees), FICA (Social Security, Medicare, and federal insurance contributions), unemployment insurance, and workers compensation
5. Bonuses
Bonuses are often tied to the performance of the employee, their team or the company. Although you can offer bonuses to employees of any level, many employers give bonuses to employees in leadership roles.
I really hope this helps :)
Lynx Corp. The data presented below for Lynx Corp. are for the year ended December 31, 2017: Sales (100% on credit) $1,000,000 Sales returns 30,000 Accounts receivable (December 31, 2017) 170,000 Allowance for doubtful accounts (credit balance) (before adjustment at December 31, 2017) 1,300 Estimated amount of uncollectible accounts based on aging analysis 14,000 See the data for Lynx Corp. If Lynx Corp. uses the aging of accounts receivable approach to estimate its bad debts, what amount will be reported as bad debts expense for 2017
Answers
Answer:
Allowance for Doubtful Accounts 69,000
Explanation:
If the company estimates its bad debt to be 2% of net credit sales:
sales 2,500,000
return and allowance (50,000)
net sales 2,450,000
Then, we calculate 2% of this amount:
2,450,000 x 0.02 = 49,000
As the uncollectible amounts are related to sales rather than account receivable we adjust for the full value giving an ending value of:
beginning 20,000 + adjustment 49,000 = 69,000
g where on form 4797, sales of business property, would the sale of the driveway be reported? page 1, part i. page 1, part ii. page 2, part iii. page 2, part iv.
Answers
On Section 4797, Part I, the land is sold. The capital asset portion of your Form 1040 is combined on line 13. Consequently, the answer to your last query is that this does count as two sales on your Form 4797, but only one of them is a Schedule D capital asset.
How do I fill out Tax form 4797 after sale of a rental property?To complete form 4797 for the 2013 tax year, I'm attempting to find out how to do it.
For $240,000 in 2007, the duplex was bought, and for $251,900 in 2013, it was sold.
Never owned by the owner, it was always used as a rental property. the following information
- Paid $240,000 when bought in 2007. (Land: 50,000 Building: 190,000)
- Purchased for $251,900 in 2013.
- $13,500 in fees for the property's selling
- Depreciation over the last six years or more: $34,000
- During this time, the home underwent no improvements.
I typed 251,000 into line 20 of form 4797. This is probably accurate.
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Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of $3,000. The division sales for the year were $1,047,000 and the variable costs were $860,000. The fixed costs of the division were $190,000. If the mountain bike division is dropped, 30% of the fixed costs allocated to that division could be eliminated. The impact on operating income for eliminating this business segment would be:
Answers
Answer:
$130,000 decrease
Explanation:
Multiple Choice $57,000 decrease $130,000 decrease $54,000 decrease $187,000 increase $187,000 decrease
Calculation of Financial advantage / Disadvantage
Decrease in contribution margin $187,000
(1,047,000-860,000)
Decrease in fixed expenses $57,000
(190000*30%)
Decrease in Net Operating Income $130,000 (Financial disadvantage)
finance and financial planning professionals have to work with clients on a (what) basis?
monthly
daily
weekly or
rare
Answers
Monthly customer interaction is necessary for those in finance and financial planning. As a result, choice (A) is right.
According to common use, a financial planning is a thorough assessment of a person's present financial situation and anticipated future financial status that uses current known variables to forecast future earnings, asset values, and withdrawal schedules.
A budget that organizes a person's finances is frequently included in this, as well as perhaps a list of actions or precise objectives for interaction future spending and saving.
This plan divides up future income into several categories of costs, such rent or utilities, while also setting aside a portion for both short- and long-term savings.
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What is marketing-information management (MIM)?
Answers
Answer:
Explanation:
Marketing Information Management (MIM) The process and methods used to gather information, analyze it, and report findings related to marketing goods and services.
Answer:
mm
Explanation:
Kate was turned down for a job because of a bad credit report. The creditor is required to give her the name of the credit bureau that supplied the report, according to
the:
Fair Credit Reporting Act.
Fair Credit Billing Act.
Truth in Lending Law.
Equal Credit Opportunity Act
Answers
The creditor is required to give Kate the name of the credit bureau that supplied the report under the Fair Credit Reporting Act (FCRA). The FCRA is a federal law that regulates the collection, use, and disclosure of consumer credit information. Under the FCRA, creditors are required to provide consumers with a copy of their credit report upon request. They are also required to provide consumers with the name and address of each credit bureau that has provided them with a report within the past two years.
The other laws you mentioned are also important, but they do not specifically address the issue of providing consumers with the name of the credit bureau that supplied their report. The Fair Credit Billing Act (FCBA) regulates the billing practices of creditors and credit card companies. The Truth in Lending Law (TILA) requires lenders to disclose certain information to borrowers, such as the annual percentage rate (APR) and the total amount of interest that will be charged on a loan. The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age, or because they receive income from a public assistance program.
What is the main goal of the creation of the federal budget?
A,) to allow the economy to run on its own
B.) to slow most economic progress
C.) to manage businesses and increase spending on all programs
D.) to decide how to manage the government’s tax revenue and expenditures
Answers
Answer: the answer is D
Explanation: on Ed2020
Answer:
D is the Answer
Explanation:
Edge
Which of the following things can help you get a lower interest rate when you receive a loan? A. A low credit score B. A history of defaulting C. Using all of your available credit D. Collateral
Answers
Answer:
Collateral
Explanation:
The thing that can help to get a lower interest rate when you receive a loan is Collateral. Thus, option D is correct.
What is Collateral?A collateral is a valuable asset that is committed to obtaining a loan. Lenders' risk is reduced by collateral. If a borrower fails on a loan, the lender can seize and sell the collateral to recuperate its losses. Mortgages and automobile loans are two examples of collateralized lending.
A customer that provides collateral is considered a low-risk customer. The lender keeps the asset until the debt is fully repaid. If the borrower fails to repay, the lender may sell the collateral to recoup his funds. Collateral decreases the lender's risk of losing money.
The loan value is always more than the collateral value. Because the transaction is low-risk, the lender may afford to provide low-interest rates. Collateral is anything that can assist you to acquire a cheaper interest rate on a loan. As a result, option D is correct.
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1. Are traditional bureaucracies set up to provide custom-made products to individual consumers? Could they be, or is it always better to have customer-oriented teams design such products?
Answers
Answer:
Traditional bureaucracies are not typically set up to provide custom-made products to individual consumers. It is usually more beneficial to have customer-oriented teams design such products, as they are better able to understand the needs and preferences of the customer and create something specifically tailored to them.
Explanation:
PNB Industries has 20 million shares of common stock outstanding with a market price of $18.00 per share. The company also has outstanding preferred stock with a market value of $50 million, and 500,000 bonds outstanding, each with face value $1,000 and selling at 97% of par value. The cost of equity is 15%, the cost of preferred is 12%, and the cost of debt is 8.50%. If PNB's tax rate is 40%, what is the WACC?A. 7.05%B. 9.47%C. 11.31%D. 11.83%
Answers
Answer:
B. 9.47%
Explanation:
Common Stock = 20,000,000*$18 = $360,000,000, so 360,000,000/895,000,000 = 0.4022
Preferred Stock= $50,000,000, so 50,000,000/895,000,000 = 0.0559
Bonds = 500,000*0.97*1000 = $485,000,000, so 485,000,000/895,000,000 = 0.05419
WACC = 0.4022*15% + 0.0559*12% + 0.5419*8.5%* (1 - 0.4)
WACC = 0.06033 + 0.006708 + 0.0276369
WACC = 0.0946749
WACC = 9.47%
7. Which of the following people is required to file taxes? *
Answers
Answer:
what you will be when grow up?
Jaxon Furnishings Company is considering logging opportunities in Alaska to obtain wood for their products. The market analysis team is busy comparing the benefits of increased wood production to the costs of deforestation and resulting environmental conditions. The company is using the _____ approach to make this ethical decision.
Answers
Answer:
Jaxon Furnishings Company Vs Logging Opportunities in Alaska
Comparison of the benefits of increased wood production to the costs of deforestation:
The company is using the __environmental sustainability___ approach to make this ethical decision.
Explanation:
According to brittanica.com, environmental "sustainability is understood as a form of intergenerational ethics in which the environmental and economic actions taken by present persons do not diminish the opportunities of future persons to enjoy similar levels of wealth, utility, or welfare."
An approach to an ethical decision is sustainable when it considers the long-term benefits and costs associated with the decision, instead of concentrating on the short-term benefits as some business transactions are done. Short-termism selfishly considers the immediate gains from a transaction. It lacks a futuristic appetite for the good of future generations.
what is your analysis on walmart financial health as of january 2021 compare to 2022
Answers
I think the analysis is good compared to the year of 2021
Occasionally, companies disappoint their customers. Whenever possible, these problems should be addressed immediately. Choose the best answer for the following question about handling customer problems. Following a phone call addressing a customer problem, what should you do
Answers
Answer:
Follow up with a letter that documents the call and promotes goodwill.
Explanation:
In a situation whereby companies disappoint their customers. There are certain things to do to handle the customer's problem. One of which is to follow the laid down principles of the particular company in solving that particular situation.
Hence, in this case, the correct answer is "Follow up with a letter that documents the call and promotes goodwill."
This is because as a professional one needs to satisfy the customer's wants. This can be done by followings certain steps such as
1. Understand the cause of the problem and make an apology.
2. Let the customer understand the nature of the problem.
3. Consider ways to ensure such a problem. does not occur anymore.
4. Do follow up by putting into records such as phone calls, and promotion of goodwill.
Al-Baida wants to buy a new machine with special purposes for an amount $ (1) million for the production of a product, and the economic life of the machine is (10) years, bearing in mind that there is no residual value for the machine at the end of its useful life. The company adopts the straight-line method in calculating the depreciation, and it is expected that the annual revenues from operating the machine will be 1,200,000 ID, and the annual expenses excluding taxes, (700,000 ID. If you know that the company adopts a discount rate of 12% The income tax rate is 30% for all years. Required: Calculate the following: .1. payback period. 2. Rate of accounting return on investment.
Answers
1. Payback period will be 2 years.
2. The rate of accounting return on investment for the machine is 35%.
To calculate the payback period, we need to determine the number of years it takes for the company to recover the initial investment of $1 million.
Step 1: Calculate the annual net cash flow.
Annual net cash flow = Annual revenues - Annual expenses excluding taxes
Annual net cash flow = $1,200,000 - $700,000 = $500,000
Step 2: Determine the payback period.
Payback period = Initial investment / Annual net cash flow
Payback period = $1,000,000 / $500,000
Payback period = 2 years
Therefore, the payback period for the investment in the machine is 2 years.
To calculate the rate of accounting return on investment, we need to determine the average annual net income generated by the investment.
Step 1: Calculate the average annual net income.
Average annual net income = (Annual revenues - Annual expenses excluding taxes) * (1 - Tax rate)
Average annual net income = $500,000 * (1 - 0.30)
Average annual net income = $350,000
Step 2: Calculate the rate of accounting return on investment.
Rate of accounting return on investment = Average annual net income / Initial investment * 100
Rate of accounting return on investment = $350,000 / $1,000,000 * 100
Rate of accounting return on investment = 35%
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A duplex home can be a wise investment because:
a) You only must pay half the taxes since you only live in half the house
b) Renting the other half of the home can help you pay your mortgage costs
c) You can charge all the maintenance and repair costs to your renter
Answers
The duplex home would be a wise investment because one will pay only half the taxes since you only live in half the house.
What is a duplex home?Basically, the duplex house means a residential building that is constructed on two floors.
Building a duplexes is a great investments because the single property has two rentable units in one package.
Hence, the duplex home would be a wise investment because one will pay only half the taxes since you only live in half the house.
Therefore, the Option A is correct.
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Answer:b) Renting the other half of the home can help you pay your mortgage costs
Explanation:i did the quiz
A company proposes to invest in two divisible projects which are expected to generate the following cash flows. Cash flows Year Project A Project B
1 10,000 10,000
2 60,000 30,000
Additional information
1. The cost of capital applicable to both projects is 12%
2. Project A requires sh. 20,000 and Project B 10,000 initial investment. 3. The funds available are restricted as follows;
Years Cash available
0 1,000,000
1 800,000
4. Funds not utilized one year will not be available in the subsequent years. Required;
i. Formulate a linear programming model to solve the above problem. ii. Solve the problem graphically and comment on the proportion of investing on the two projects.
Answers
The graphical solution of this linear programming problem will involve plotting the feasible region defined by the constraints and identifying the corner points of the region. The corner point that maximizes the objective function will represent the optimal investment proportions between the two projects.
To formulate a linear programming model for the investment decision between Project A and Project B, we can define the following variables:
Let x be the amount invested in Project A (in thousands of shillings).
Let y be the amount invested in Project B (in thousands of shillings).
The objective is to maximize the total cash flows generated from the investments, which can be represented as: Maximize Z = 10x + 60y + 10x + 30y
Subject to the following constraints:
The total investment should not exceed the available funds:
x + y ≤ 1,000 (in thousands of shillings)
Project A requires an initial investment of 20,000 (in thousands of shillings):
x ≥ 20
Project B requires an initial investment of 10,000 (in thousands of shillings):
y ≥ 10
The funds available in each year should be utilized:
x + y ≤ 800 (for year 1)
The graphical solution of this linear programming problem will involve plotting the feasible region defined by the constraints and identifying the corner points of the region. The corner point that maximizes the objective function will represent the optimal investment proportions between the two projects.
Based on the graphical solution, the proportion of investing in the two projects will depend on the intersection of the feasible region and the objective function. The specific proportion will vary depending on the values and slopes of the constraints and objective function.
It is important to note that the actual graphical solution and interpretation of the proportion will require the specific values and plot of the feasible region and objective function.
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Based on this chart, what is the marginal revenue, in dollars, at quantity three jackets?
Answers
Based on the information, the Marginal revenue at quantity 3 will be $16.
How to calculate the valueThe marginal revenue at quantity three jackets is $16. This can be found by looking at the difference between the revenue generated by selling three jackets and the revenue generated by selling two jackets. The revenue generated by selling three jackets is $48, and the revenue generated by selling two jackets is $32. The difference between these two values is $16, which is the marginal revenue at quantity three jackets.
Here is a breakdown of the calculations:
Revenue generated by selling 3 jackets = $48
Revenue generated by selling 2 jackets = $32
Marginal revenue at quantity 3 = $48 - $32 = $16
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the following information pertains to Lightning Inc., at the end of December: Credit Sales $ 60,000 Accounts Payable 10,000 Accounts Receivable 7,000 Allowance for Uncollectible Accounts 400 credit Cash Sales 20,000 Lightning uses the aging method and estimates it will not collect 2% of accounts receivable not yet due, 10% of receivables up to 30 days past due, and 40% of receivables greater than 30 days past due. The accounts receivable balance of $7,000 consists of $3,500 not yet due, $2,000 up to 30 days past due, and $1,500 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense
Answers
Answer:the appropriate amount of Bad Debt Expense=$870
Explanation:
Given that for Lightning Inc., at the end of December:
Credit Sales $60,000
Accounts Payable 10.000
Accounts Receivable 7.000
Allowance for Uncollectible Accounts 400
creditCash Sales 20,000
Using the aging method and estimates it states that the following would be uncollectible
1. 2% of accounts receivable not yet due, $3500 which is
2 % x 3500= $70
2. 10% of receivables less than 30 days past due, $2000 which is
10% x 2000=$200
3. 40% of receivables greater than 30 days past due,$1500 which is
40% x$1500=$600
Appropriate amount of Bad Debt Expense= Allowance for Uncollectible Accounts =$70+$200+$600==$870
Therefore, Bad debt expense =$870
Allowance for Uncollectible Accounts=$870
s
On January 1, 2018, M Company granted 90,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2020, and expire on January 1, 2024. Each option can be exercised to acquire one share of $1 par common stock for $12. An option-pricing model estimates the fair value of the options to be $5 on the date of grant. If unexpected turnover in 2019 caused the company to estimate that 10% of the options would be forfeited, what amount should M recognize as compensation expense for 2019? Group of answer choices $150,000. $30,000. $60,000. $120,000.
Answers
Answer:
$120,000
Explanation:
Calculation to determine What amount should M recognize as compensation expense for 2019
First step is to calculate the Value of the option using this formula
Value of the option = Stock options × Fair value of the options
Let plug in the formula
Value of the option=90,000*$5
Value of the option=$450,000
Now let determine compensation expense for 2019
2019 Compensation expense=[($450,000*(100%-10%))*2/3]-$450,000/3 years
2019 Compensation expense=[($450,000*90%)*2/3]-$150,000
2019 Compensation expense=($405,000*2/3)-$150,000
2019 Compensation expense=$270,000-$150,000
2019 Compensation expense=$120,000
Therefore The amount that M recognize should recognize as compensation expense for 2019 is $120,000
The easiest stage of teamwork is the norming stage.
Answers
Answers and Explanations:
In teamwork, the easiest stage would be the "norming stage."
As the stages of team development start to increase, this stage is at the point where members of a team are feeling that the type or form of project that is being made is becoming familiar, or more well-known to them about the project. The team is now working as more of a unit and is in more of the accepting stage of each other, while getting past each others differences and all of the minor issues and problems that had happened in the starter stages.
Basically, this is the stage of unity among each other as teammates.
I hope that this helps.
NEED GUIDANCE ON HOW TO DO THIS PLEASE
I need to prepare cash flow statement and financial performance statement. I have attended the photo
Answers
Answer:
transport and travelling cost
On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip in an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2018. The account will earn 6 percent annual interest, which will be added to the account at each year-end.
Required:
How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?
Answers
Answer:
nterest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 is $210
Interest earned for year 3 is $433
Interest earned for year 4 is $669
Explanation:
We will use the annuity formula to compute the net interest earned for the next 4 years.
Annuity Value = Present Value * Annuity Factor
Here
Annuity factor = [1 - (1 + r)^-n] / r
r is 6%
n is 4 years
The present value is $3500
By putting above values in the equation we have:
Annuity Value = $3500 * [1 - (1 + 6%)^-4] / 6%
= $3500 * 4.374616 = $15,311.156
This is the annuity value of the yearly investment of $3500 for 4 consecutive years.
The interest portion = $15,311.156 - ($3500 * 4) = $1,311.156
Interest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 = ($3500 * (1.06)) - $3500 = $210
Interest earned for year 3 = ($3500 * (1.06)^2) - $3500) = $433
Interest earned for year 4 = ($3500 * (1.06)^3) - $3500 = $669
Answer:
nterest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 is $210
Interest earned for year 3 is $433
Interest earned for year 4 is $669
Explanation:
What are the similarities between the roles of the Federal Reserve and the FDIC?
Both the Federal Reserve and the FDIC insure deposits in savings accounts.
Both the Federal Reserve and the FDIC have regulatory power over the banking industry.
The FDIC is responsible for implementing bank laws passed by Congress.
Both the Federal Reserve and the FDIC implement consumer protection laws.
Answers
The Federal Deposit Insurance Corporation (FDIC) is the primary federal regulator for banks chartered by states that do not join the Federal Reserve System.In addition, the remaining insured banks and savings associations are overseen by the FDIC as a back-up.
How does the Federal Reserve interact with financial institutions?
The Federal Reserve is the primary regulator of banks that are members of the Federal Reserve System and has broad authority to act to maintain financial stability.It is the lender of last resort for member institutions that cannot borrow elsewhere.
What was the Federal Reserve's role in this?
Keeping an eye on and controlling activities and financial institutions.Individual financial institutions' safety and soundness are bolstered and their impact on the financial system as a whole is monitored by the Federal Reserve.
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Explain the formation of research proposal and it's format.
Answers
A research proposal is a document that outlines a researcher’s plan to conduct a specific research project.
What is research proposal?A research proposal is a document that outlines the research project that one intends to undertake. It provides a summary of the background and rationale for the proposed study, outlines the research objectives and methods, and identifies potential resources and risks. The research proposal also serves as a map for the researcher in order to ensure the completion of the project within a specific timeline and budget. The research proposal should be free from plagiarism and should be written in an organized and professional manner.
The format of a research proposal may vary depending on the field of research, the institution, and the funding body.
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Kahn Performance Nutrition produces a protein shake that contains whey protein as one of its ingredients. The whey protein (materials) standards for each batch of protein shake produced are 12 pounds of whey protein at a standard cost of $3 per pound. During July, Kahn Performance Nutrition purchased and used 54,000 pounds of whey protein at a total of $170,000 to make a total of 4,300 batches of protein shake. What is the materials quantity variance for whey protein in July?
Answers
Answer:
The correct answer is "-$7200 (Unfavorable)".
Explanation:
Given:
Actual quantity,
= 54000 pounds
Standard price,
= $3 per pound
Standard quantity,
= \(4300\times 12\)
= \(51600 \ pounds\)
As we know,
⇒ \(Material \ quantity \ variance=(Standard \ quantity-Actual \ quantity)\times Standard \ price\)By substituting the values, we get
⇒ \(=(51600-54000)\times 3\)
⇒ \(=(-2400)\times 3\)
⇒ \(=-7200 \ (Unfavorable)\)