Answer:
$35,200
Explanation:
Given that
Invested amount = $320,000
Rate of interest = 11%
So by considering the above information, the amount of annual scholarship that can be given from this investment is
= Invested amount × Rate of interest
= $110,000 × 11%
= $35,200
By multiplying the invested amount with the rate of interest we can find out the annual scholarship amount
Answer:
Pension liability at December 31, 2017 is ($229,700)
Explanation:
Projected benefit obligation $561,600
Less: Plan assets $331,900
Pension liability at December 31, 2017 -$229,700
Answer:
interest expense: $ 164,621.65
Explanation:
We solve for the present value of the lease value:
C 320,000.00
time 10
rate 0.1
PV $1,966,261.4738
We made the first payment which decrease our payable:
1,966,261.47 - 320,000 = 1,646,261.47
And now, from this amount we solve for the interest expense:
And now, we calculate the 10% interest for the year:
1,646,216.47 x 10% = 164,621.65 interest expense
Answer:
S/n General Journal Debit Credit
a Insurance expense $1,200
Prepaid Insurance $1,200
(To record insurance expired)
b Supplies expense $6,200
Supplies $6,200
($5,000 + $2,000 - $800)
(To record supplies used)
Lopez company should adjust their prepaid insurance and Zim company should adjust their supplies account due to their use during the year. Both adjustments will be debits to relevant expense accounts & credits to Prepaid Insurance for Lopez, and Supplies for Zim.
The two adjustments that need to be made are for the prepaid insurance and the supplies. To compute the adjustment for the prepaid insurance, we would divide the total insurance payment by the number of months covered to find the monthly cost. For Lopez Company, six months of insurance is valued at $1,200, therefore the monthly cost is $200. From July 1 to December 31, six months have passed, so $1,200 of insurance has been used up. As a result, we need to debit the Insurance Expense account by $1,200 and credit Prepaid Insurance by $1,200.
Regarding Zim Company, the beginning balance in the Supplies account was $5,000, and it purchased $2,000 more throughout the year - that sum up to $7,000 of total supplies. At the end of the year, they still had $800 left, so they used $6,200 of supplies during the year. The adjustment will be a debit to Supplies Expense by $6,200 and a credit to Supplies by $6,200, reflecting the fact that those supplies are no longer available for use.
#SPJ3
Answer:
Check the explanation
Explanation:
Answer:
6.5017%
Explanation:
Given that,
Total cost of a college education when your child enters college in 16 years, Future value = $200,000
Amount today to invest, present value = $73,000
Time period = 16 years
Therefore,
Annual rate of interest:
r = 6.5017%
Therefore, the annual rate of interest you must earn on your investment to cover the cost of your child’s college education is 6.5017%.
Answer:
The correct answer is (D)
Explanation:
One of the most significant perspectives to be considered in connection is to frame a benchmark plan. Execution estimation and target-setting are essential to the development procedure, however a pattern plan is basic and is considered as an initial step. While numerous private companies can run themselves easily without target-setting, however every organisation must have a plan and a way to execute those plan.