Sheffield Corporation issues 40000 shares of $100 par value preferred stock for cash at $110 per share. The entry to record the transaction will consist of a debit to Cash for $4400000 and a credit or credits to:
O Preferred Stock for $4000000 and Retained Earnings for $300000.
O Preferred Stock for $4000000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $400000.
O Paid-in Capital from Preferred Stock for $4400000.
O Preferred Stock for $4400000.Preferred Stock for $4000000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $400000.
Answers
Option (b), Preferred Stock for $4000000 and Paid-in Capital Exceeding Par Value—Preferred Stock.
Preferred Stock PurchasersPreferred stock sometimes provides greater consistency and cash flow when compared to common shares. As a result, investors who wish to hold equities without putting their portfolio at undue risk usually buy preferred stock. Preferred stock also has an advantageous tax position, which could entice institutional investors and large corporations to make an investment due to the investment's tax advantages.
How do preferred stocks function?Bond and equity characteristics are combined in a type of stock known as preferred stock. Preferred shares, like bonds, pay dividends in cash and frequently provide higher returns than bonds while posing a lower risk than common stock.
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Related Questions
explain the difference between a flat tax and a graduated income tax.
Answers
Answer:Progressive tax systems have tiered tax rates that charge higher income individuals higher percentages of their income and offer the lowest rates to those with the lowest incomes. Flat tax plans generally assign one tax rate to all taxpayers. ... A flat tax would ignore the differences between rich and poor taxpayers.
what is the answer to this picture
Answers
Developed
Developing Nation
Hope this helps!
prepare a budget using, excel for your church / organization. list the income side and the expenditure side. show the previous years projected and actual amounts on the side for comparison
Answers
To prepare this budget, the Excel spreadsheet will have four columns, namely; income, expenditure, last year's projected income, and last year's actual income.
Income for the church will include donations from different bodies and individuals and the expenditure will include money spent on gas, maintenance of the building, and the payment of workers.
How to prepare a budgetA budget is a preplanned record that is meant to track the income and expenditure of individuals and organizations.
For the church in question, the income side should state all monetary and physical valuables that it receives, whereas, the expenditure should detail the expenses made from available income. The other two columns are meant to compare progress.
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a company sold 20,000 units of its product for $20 each. variable cost per unit is $11. fixed expenses total $150,000. the company's contribution margin is ______.
Answers
A company sold 20,000 units of its product for $20 each. variable cost per unit is $11. fixed expenses total $150,000. the company's contribution margin is $180,000
The contribution margin can be stated on a gross or per-unit basis. It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm's costs. The difference between a product's sale price and the variable costs related to its manufacture and sale is calculated as the contribution margin. The following formula is used to express this:
C= R-V
Contribution margin = 20,000 x ($20-$11)
= $180,000
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Which of the following would be considered residential transactions please select all that apply
Answers
Answer:
is the reduces of an Insurance
Explanation:
there have been several complaint about the increase in the number of teenage hawkers in the street. write a letter to the editor of national newspaper discussing the problem suggesting solution
The goods and services produced by an economic unit through ______ can be exchanged for a full range of desired products produced by other economic units.
Answers
Answer: specialization
Explanation:
When the goods and services are generated by an economic unit via specification so they can be exchanged.
The following information related to the economic unit is
In the economy, the production, consumption & exchange should be carried out via 3 economic units i.e. firm, household, and the government.It involved the decisions related to the production i.e. what to produce, how to produce, and what prices should be charged.Therefore we can conclude that When the goods and services are generated by an economic unit via specification so they can be exchanged.
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Jim is looking to purchase Vinney's property. The two parties agree on the terms of the deal and are ready to sign the purchase agreement. When will Jim and Vinney have an executed contract?
Answers
Jim is looking to purchase Vinney's property. The two parties agree on the terms of the deal and are ready to sign the purchase agreement. Jim and Vinney have an executed contract when they both are signed.
What is contract execution?A systematic event known as contract execution occurs when all necessary parties sign the agreement, making it a binding legal document.
Further the contract law provide the two broad categories of the contract which is considered to have been executed a) whenever all parties have fulfilled their responsibilities in full and b) A contract that has been signed by all parties required to make it legally enforceable is also referred to as being "executed."
Therefore Jim and Vinney when sign the agreement can make the purchase agreement into a real estate executed contract.
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6. Assume that as of August 1, 3,000 units of flat panel displays have been produced and sold during the current year. Analysis of the domestic market indicates that 2,000 additional units are expected to be sold during the remainder of the year at the normal product price determined under the product cost method. On August 3, Crystal Displays Inc. received an offer from Maple Leaf Visual Inc. for 800 units of flat panel displays at $225 each. Maple Leaf Visual Inc. will market the units in Canada under its own brand name, and no variable selling and administrative expenses associated with the sale will be incurred by Crystal Displays Inc. The additional business is not expected to affect the domestic sales of flat panel displays, and the additional units could be produced using existing factory, selling, and administrative capacity. a. Prepare a differential analysis of the proposed sale to Maple Leaf Visual Inc. If an amount is zero, enter "0". Differential Analysis Reject (Alt. 1) or Accept (Alt. 2) Order August 3 Reject Order (Alternative 1) Accept Order (Alternative 2) Differential Effects (Alternative 2) Revenues $ $ $ Costs Variable manufacturing costs Profit (loss) $ $ $ Feedback 6. a. Subtract the additional variable manufacturing costs from the additional revenues. Determine the differential effect on income of the revenues, costs, and income (loss). b. Based on the differential analysis in part (a), should the proposal be accepted
Answers
Additional part of Question:
Crystal Displays Inc. recently began production of a new product, flat panel displays, which required the investment of $1,500,000 in assets. The costs of producing and selling 5,000 units of flat panel displays are estimated as follows: 1 Variable costs per unit: 2 Direct materials $120.00 3 Direct labor 30.00 4 Factory overhead 50.00 5 Selling and administrative expenses 35.00 6 Total variable cost per unit $235.00 7 Fixed costs: 8 Factory overhead $250,000.00 9 Selling and administrative expenses 150,000.00 Crystal Displays Inc. is currently considering establishing a selling price for flat panel displays. The president of Crystal Displays has decided to use the cost-plus approach to product pricing and has indicated that the displays must earn a 15% return on invested assets.
Answer:
Crystal Displays Inc.Differential Analysis of Maple Leaf Visual Inc.'s Order
Reject (Alt. 1) Accept (Alt. 2)
Order August 3 0 800
Differential Effects
Revenues $0 $180,000
Variable manufacturing costs $0 $160,000
Profit (loss) $0 $20,000
Based on the differential analysis above, the proposal should be accepted. Crystal Displays Inc. will increase its profit by $20,000 from the additional order without spending additional selling, and other fixed costs.
Explanation:
a) Data and Calculations:
Investment in producing panel displays = $1,500,000
The costs of producing and selling 5,000 units of flat panel displays are estimated as follows:
1 Variable costs per unit:
2 Direct materials $120.00
3 Direct labor 30.00
4 Factory overhead 50.00
5 Selling and administrative expenses 35.00
6 Total variable cost per unit $235.00
7 Fixed costs:
8 Factory overhead $250,000.00
9 Selling and administrative expenses 150,000.00
Product cost using cost-plus pricing:
1 Variable costs per unit:
2 Direct materials $120.00
3 Direct labor 30.00
4 Factory overhead 50.00
5 Selling administrative
expenses 35.00
Total variable
manufacturing cost $235.00 *5,000 $1,175,000.00
Contribution $625,000.00
Fixed Costs:
Factory overhead $250,000.00
9 Selling and administrative expenses 150,000.00
Expected returns on invested assets
= 15% of $1,500,000 = $225,000
Income Statement:
Sales Revenue (5,000 x $360) $1,800,000.00
Manufacturing cost $235.00 1,175,000.00
Contribution $625,000.00
Fixed Costs:
Factory overhead $250,000.00
Selling and administrative expenses 150,000.00
Expected returns on invested assets
= 15% of $1,500,000 = $225,000
Special order from Maple Leaf Visual Inc.:
Flat panel displays = 800 units
Price = $225 each
Cost of production per unit = $200 ($235 - $35)
Contribution per unit = $25 ($225 - $200)
Differential analysis is a managerial technique which Crystal Displays Inc. can use to decide to accept or reject the additional order from Maple Leaf Visual Inc. for 800 units of flat panel displays at $225 each. After the analysis, it appears that Crystal Displays Inc. will make a profit of $25 per unit or a total profit of $20,000 from the additional order. Since this additional order does not require extension of the existing production capacity and costs, it looks reasonable to suggest that the business from Maple Leaf should be accepted.
& Co. owns vast amounts of corporate bonds. Suppose buys of bonds at face value on January 2, . The bonds pay interest at the annual rate of % on June 30 and December 31 and mature on December 31, . intends to hold the investment until maturity. Read the requirementsLOADING.... Requirement 1. How would the bond investment be classified on December 31, , balance sheet? The bond investment will be classified as a ▼ as of December 31, .
Answers
Answer:
Bonds held to maturity are recorded at the net carrying value (after any premium or discount amortization is made), but since these bonds were purchased at face value, there is no premium or discount to be amortized. The bonds should be reported at face value as non-current assets since they mature in more than 1 year.
Explanation:
all the numbers are missing, so I looked for a similar question:
Otter Creek & Co. Owns vast amount of corporate bonds. Suppose Otter Creek buys $1,200,000 of RoastCo bonds at face value on January 2, 2016. The RoastCo bond spay interest at an annual rate of 3% on June 30 and December 31, and mature on December 31, 2020. Otter Creek intends to hold the investment until maturity.
How would the bond investment be classified on December 31, 2016, balance sheet?
How can you become more like Fiji Water in life? Chapter 2, Lesson 1
Answers
Answer:
To be pure is to be yourself when it comes to fighting sin, and listening to what you believe is right over the devil instead. And to be pure is to be yourself when it comes to love, to discover the true placement of your heart, and to love the way you want to out loud, shameless.
Explanation:
Fiji water is pure so I said this. Hope this helps.
You are a college student who is a member of the cross-country team. You participate in volunteer efforts that involve needy children. You are an avid fan of roller coasters. Which of the following would least likely to be an in-group for you?You are a college student who is a member of the cross-country team. You participate in volunteer efforts that involve needy children. You are an avid fan of roller coasters.
Required:
What would least likely to be an in-group for you?
Answers
The least likely to be an in-group for you as a college student in a cros-country team is: You participate in volunteer efforts that involve needy children.
What is volunteering?This is a willing act of an individual to freely give out his or her time for others. This can involve acts of service like community work or laboring work.
As a college student in a cross country team, you would least likely be involved in acts of service. Instead, you would be more focused and invested on the cross-country team.
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Budgeted Actual Overhead cost $909,000 $884,000 Machine hours 55,000 46,000 Direct labor hours 101,000 98,000 Overhead is applied on the basis of direct labor hours. (a) Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.)
Answers
Answer:
Missing word "(b) Determine the amount of overhead applied for the year?"
1. Predetermined overhead rate = Budgeted overhead / Budgeted direct labor hours
Predetermined overhead rate = $909,000 / 101,000
Predetermined overhead rate = $9 per DLH
2. Overhead applied = Actual hours * Overhead rate
Overhead applied = 98,000 * $9 per DLH
Overhead applied = $882,000
Jessica and Robert have two young children. They have $7,000 of qualified child care expenses and an AGI of $22,000 in 2019. What is their allowable child and dependent care credit considering their pre-credit tax liability
Answers
Answer:
$0
Explanation:
The computation of the their allowable child and dependent care credit is shown below:
In the case when the income is below $35,000 than full 35% would be allowed
But the qualified child expense would be limited to $6,000
So, here the amount would be
= $6,000 × 35%
= $1,860
Already there is a pre credit tax liability so $0 should be considered as it would not received any credit
Manufacturing a shoe manufacturer spends $2. 50 to make sandals and $4 to make running shoes. During a typical month, they spend $2500 manufacturing sandals and running shoes. During the month of april, they double the pairs of sandals manufactured and spend a total of $3000.
Answers
MANUFACTURING Sandals cost $2.50 to create and $4 to make by a shoe manufacturer. The average monthly expenditure is $2500.
Which sandal is most suitable for everyday use?
Which sandal is the most suitable for daily use? Leather sandals can be worn every day and are incredibly durable. Additionally, some of the greatest leather sandals are constructed with premium leather that is comfortable for your feet. Flip flops and sandals frequently provide little to no ankle and arch support. This lack of support can cause pain to develop, and it may even increase your risk of accidents like ankle sprains.
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Which principle says that 20 percent of customers provide 80 percent of revenue?
The---------- Principle says that 20 percent of customers provide 80 percent of revenue.
Answers
Answer:
The Pareto principle
Explanation:
The Pareto principle asserts that 80 percent of the results come from 20 percent of the course. The principle was named after Pareto, an Italian economist, who first observed this phenomenon. The Pareto principle is not a law but an observation.
Some other examples that Pereto observed include
20% of the features make 80% of the usage
20% of the employees produce 80% of the result
20% of the clients create 80% of the revenue
Are entities in Sweden and the US wholly-owned subsidiaries or branch offices? How are those determinations made?
Answers
Answer:
Sweden is generally considered a highly-favorable investment destination. Sweden offers an extremely competitive, open economy with access to new products, technologies, skills, and innovations. Sweden also has a well-educated labor force, outstanding communication infrastructure, and a stable political environment, which makes it a choice destination for U.S. and foreign companies. Low levels of corporate tax, the absence of withholding tax on dividends, and a favorable holding company regime are additional incentives for doing business in Sweden.
Sweden’s attractiveness as an investment destination is tempered by a few structural, business challenges. These include high personal and VAT tax regimes. In addition, the high cost of labor, rigid labor laws and regulations, a persistent housing shortage, and the general high cost of living in Sweden can present challenges to attracting, hiring, and maintaining talent for new firms entering Sweden. Historically, the telecommunications, information technology, healthcare, energy, and public transport sectors have attracted the most foreign investment. However, manufacturing, wholesale, and retail trade have also recently attracted increased foreign funds.
Overall, investment conditions remain largely favorable. Forbes Magazine ranked Sweden second in “The Best Countries for Business for 2019,” a ranking that takes into account factors such as property rights, innovation, taxes, technology, corruption, freedom, red tape, and investor protection. In the World Economic Forum’s 2017-2018 Competitiveness Report Sweden was ranked twelfth out of 138 countries in overall competiveness and productivity. Also in 2018, Transparency International ranked Sweden as one of the most corruption-free countries in the world –third out of 180.
In addition, Sweden is well equipped to embrace the Fourth Industrial Revolution, with a superior IT infrastructure. Bloomberg’s 2019 Innovation Index ranked Sweden in seventh place among the most innovative nations on earth. Sweden is a global leader in adopting new technologies and setting new consumer trends. U.S. and other exporters can take advantage of a test market full of demanding, highly sophisticated customers.
Lukow Products is investigating the purchase of a piece of automated equipment that will save $150,000 each year in direct labor and inventory carrying costs. This equipment costs $800,000 and is expected to have a 5-year useful life with no salvage value. The company’s required rate of return is 12% on all equipment purchases. Management anticipates that this equipment will provide intangible benefits such as greater flexibility and higher-quality output that will result in additional future cash inflows.
1. What is the net present value of the piece of equipment before considering its intangible benefits? (Enter negative amount with a minus sign. Round your final answer to the nearest whole dollar amount.)
2. What minimum dollar value per year must be provided by the equipment’s intangible benefits to justify the $800,000 investment? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)
Answers
A cost-benefit analysis can also include intangible benefits and costs using the net present value for deciding on a project is that Present value of annual cash flows $550030. giving a year 2 salvage value of 250,000 dollars for producing equipment.
Which of the following is a cash inflow from an investment?Cash inflows (proceeds) from investing activities include: Receipts from collections of loans (except program loans) and sales of other entities' debt instruments (other than cash equivalents) Receipts from sales of equity instruments and from returns of investment in those instruments.
What does cash inflows from a project usually include?Proceeds from sales of goods or services. Returns on investments. Financial activities. Interest built over time periods.
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1 Acts (Laws passed by a government (e.g. the Parliament of South Africa) in accordance with the Constitution of
the country
Answers
Acts, also known as laws, are legislative measures that are passed by a government in accordance with the Constitution of a country.
The process of passing an Act typically involves several stages. It begins with the proposal of a bill, which is a draft law that is presented to the legislative body. The bill goes through a series of readings and debates, during which it may be amended or revised based on input from legislators and stakeholders.
Once the bill is approved by the legislative body, it is sent for further scrutiny, such as legal review and public consultation. Finally, the bill is enacted into law by receiving formal approval, usually through the signature of the head of state or a designated authority.
Acts play a crucial role in shaping the legal framework of a country. They cover a wide range of areas, including civil rights, criminal justice, taxation, environmental protection, labor regulations, healthcare, education, and many more.
Acts provide a legal basis for the functioning of government institutions, define citizens' rights and responsibilities, establish standards for public and private conduct, and promote social order and justice.
Acts are binding and enforceable, meaning that individuals and entities within a country are obligated to comply with their provisions. Violation of an Act can result in legal consequences, such as fines, penalties, or imprisonment, depending on the nature and severity of the offense.
Acts also reflect the evolving needs and values of a society. As societal perspectives change and new challenges emerge, governments may pass new Acts or amend existing ones to address these issues. Acts can be updated and repealed over time to ensure that the legal framework remains relevant and responsive to the needs of the people.
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What are the pros and cons of the JIT Strategy in company’s operation ?
Answers
Answer:
Just-in-time (JIT) inventory systems started in Japan in the 1970s and spread to the U.S. about a decade later. JIT is an inventory-management system that aims to help businesses have just enough inventory readily available to meet current demand while avoiding excess. There are many pros and cons for a small business to consider before adopting a JIT system.
Miller Juice, Inc. is not paying a dividend right now, but is expected to pay a $4.56 dividend three years from now. Investors expect that dividend to grow by 4% every year forever. If the required return on the stock investment is 14%, what should be the price of Miller Juice stock today
Answers
Answer:
$35.09
Explanation:
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = cost of equity
g = growth rate
4.56 x (1.04) / (0.14 - 0.04) = $47.42
($47.42 + 4.56) / 1.14^3 = $35.09
Internet or Online Banks are sometimes able to offer
higher interest rates on savings products because they don't have to
spend money on brick-and-mortar bank locations that increase the
companies cost to offer services.
True or false.
Answers
It is true that internet or online banks are sometimes able to offer higher interest rates on products because they don't have to spend money on brick-and-mortar bank locations increase companies cost to offer services.
What is a bank?A bank is a financial institution that is authorized to accept deposits from individuals and businesses and use those funds to make loans and investments. Banks are regulated by government authorities to ensure they operate in a safe and sound manner and protect their customers' deposits. Banks offer a range of services to their customers, including checking and savings accounts, loans, credit cards, and investment products. They also provide services such as wire transfers, currency exchange, and safe deposit boxes. Banks generate revenue by charging fees and interest on loans and investments, and by investing their own funds in profitable ventures. In addition to traditional brick-and-mortar banks, there are now online-only banks and mobile banking apps that offer convenient access to banking services.
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What are some of the reasons why domestic policies change overtime?
Answers
Answer:
They changed as the USA entered the war.
Explanation:
American and domestic foreign policy during World
War 2 were linked in that once America entered the
war it had a significant impact on its economy.
When we say during World War 2 we must remember
that the USA did not enter the war until December
1941 after the attack on Pearl Harbour. Even then
there was no guarantee that they would become
involved in a war in Europe. It was Hitler who
declared war on the USA.
Prior to that American domestic politics
were dominated by the arguments between
interventionism and isolationism. President Roosevelt
had to tread a fine path in providing limited support to
the UK whilst being careful not to turn public opinion even more against involvement in a war thousands of miles away.
Japan's failure to deliver a knockout blow at Pearl Harbour meant that the US economy, on a war footing, was powerful enough to produce military hardware on a scale not seen before which would lead to victory in 1945 and the USA emerging as the most powerful country in the world.
Domestic policies change over time mainly due to changing societal values, economic conditions, and political influences. Society's evolving nature, economic developments, and shifts in political power greatly influence such changes.
Explanation:Domestic policies change over time due to a variety of reasons. The primary ones include changing societal values, economic conditions, and political influences. For instance, societal values evolve over time, which may either necessitate new policies or changes in existing ones to address contemporary issues. Economic conditions may influence policy changes for enhancing economic stability and growth. Changing political influences also play a significant role as different political parties with contrasting priorities and approaches to governance come to power.
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Please describe an effective leadership style
Answers
Business leaders can improve employee engagement and satisfaction, stimulate creativity and productivity, and ultimately accomplish the aims and objectives of the organization by using a transformational leadership style.
What is transformational leadership style?A leadership style known as transformational leadership focuses on inspiring and encouraging followers to produce amazing achievements that go above and beyond what they had anticipated. By establishing a vision and uniting people around it, it is a leadership strategy that aims to transform both people and organizations. The skill of inspiring and motivating others to accomplish at their highest level and realize their full potential is a trait of transformational leaders.
Transformational leaders are able to express their compelling future vision in a way that inspires and motivates others. They are endowed with charisma and the capacity to enthrall and sway their audience.
Setting high standards and pushing their followers to go beyond their own boundaries are two ways that transformational leaders inspire and encourage their followers.
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The complete question is:
Please describe an effective leadership style in a business
Acellus
Help Resources
If a corporation makes $20 million in one year,
after taxes are paid (at 35%), that company
will have a net income of
million
A $7
B. $10
C. $13
Answers
Answer:
A) 7 million
Explanation:
20 000 000 X 35÷100 = 7 million
Securities Markets and Investment Companies
Quiz Active
The Securities and Exchange Commission will consider a monetary penalty to those financial institutions that
do not abide by their mandates. This activity is an example of
O education
O enforcement
accuracy
O operations
Answers
The Securities and Exchange Commission will consider a monetary penalty to those financial institutions that do not abide by their mandates.
Financial is defined as providing money or credit for something. An example of finance is a bank lending someone money to buy a house. The company is in financial trouble. Government financial advisor. Synonyms: Economy, Business, Money, Budgeting More synonyms for finance.
Refers to the corpus of funds and credit used by businesses. Business funds are necessary for the purchase of assets, goods, raw materials, and for conducting other economic activities. Strictly speaking, it is required to perform all business transactions. Finances are also important so that companies can take risks and grow. As the use of technology increases, people are becoming more and more dependent on money to reach their goals. Finance is important for empowerment because it enables businesses to take risks and grow.
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Local planning teams are often called planning .
Answers
Answer:Commissions
Explanation:an instruction, command, or duty given to a person or group of people.
Eighteen-year ACRS nonresidential real property owned by an individual has accumulated accelerated depreciation of $975,000 at January 1, of this year. This property is sold on January 1, this same year. The original cost of the property was $975,000. The sale price was $1,000,000. The amount of the realized and recognized gain is:
Answers
Answer:
Gain= $1,000,000
Explanation:
First, we need to calculate the book value:
Book value= original cost - accumulated depreciation
Book value= 975,000 - 975,000
Book value= 0
Now, to calculate the gain or:
Gain/loss= selling price - book value
Gain= 1,000,000 - 0
Gain= $1,000,000
Helppppp
Suki has placed $800 in an account that pays 4 percent interest compounded quarterly. At the end of two years (eight quarters), the balance in the account will be $
. That means Suki will have earned $
in interest during that time. (Round your answers to the nearest cent.)
What will be the balance in the account at the end of two years (eight quarters)? How much interest will Suki have earned during that time? (Round your answers to the nearest cent.
Answers
In other terms, compound interest is interest on principal + interest and refers to the addition of interest to the principal amount of a loan or deposit. Reinvesting interest, or adding it to the lent capital rather than paying it out or requiring payment from the borrower, results in interest being earned on the principal amount plus previously accumulated interest in the next period. In economics and finance, compound interest is common.
In contrast to simple interest, which doesn't compound because past interest isn't added to the principle for the current period, there is compounding with compound interest.
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Recommend specific tools and detailed strategies to help Booktix meet their goals & suggest which platform would be the best for them.
Answers
Answer: Hello your question has some missing details
Their goals are as follows:
• Create brand and product awareness
• Engage with users
• Increase website traffic and conversions
answer :
Tools : Qwaya , Ads A/B Testing , AD roll
" A social media platform " can be used to achieve these goals
Explanation:
Booktix goals been
to Create brand and product awareness , Engage with users and Increase website traffic and conversions
some of The best tools that they can use are:
Qwaya : This is an all in one software that can help Brook tix achieve all their goals in one place
Ads A/B Testing; this tool is used to test for the results of adverts been run. the main purpose of this tool is to help you know where to channel your resource for future adverts .
AD roll ; A tool used for the purpose of retargeting potential and existing clients
The platform I would recommend for Booktix is " A social media platform "
Julia runs a salon from a rented premise. In the month of June, she paid $6,000 as advance rent for the premise for a period of six months. Under which accounting head will she include this advance rent paid?
A. fixed assets
B. current assets
C. long-term liabilities
D. current liabilities
Answers
Option (b), Julia operates a salon out of a rented space. She paid the property's six-month advance rent of $6,000 in the month of June. She will record this advance rent as current assets under the current assets accounting category.
What record in the books is a rent advance?The initial journal entry for prepaid rent debits prepayment and credits cash. Both of these accounts are viewed as assets, thus they have no impact on the balance sheet of a business. Advance payments for expenses are viewed as assets since they will benefit the company financially in the future.
It provides as an example of an prepaid expenditure. Prepaid rent is displayed on the asset side of the balance sheet since it is unrelated to the current accounting period. Rent paid in advance is deducted from the organization's financial records since it is a current asset.
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