The best example of a law is that C. Teachers must retire at age 65.
What is law?It should be noted that law simply means the system of rules that guide or govern a group of people.
In this case, the best example of a law is that the teachers must retire at age 65. This guides them.
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On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 8%, the bonds will issue at $549,482.
The entries to record the bond issue on January 1, 2021 is: Debit Cash $549,482; Credit Discount On bonds Payable $49,482; Credit Bonds Payable $500,000.
Journal entriesSplash city journal entries
January 1, 2021
Debit Cash $549,482
Credit Discount On bonds Payable $49,482
Credit Bonds Payable $500,000
(To record bond issue)
June 30, 2021
Debit Interest Expense $21,979.28
(8%/2×$549,482)
Debit Discount on Bonds Payable $520.72
($22,500-$21,979.28)
Cash $22,500
(9%/2×$500,000)
(To record semiannual interest payments )
December 31, 2021
Debit Interest Expense $21,979.28
(8%/2×$549,482)
Debit Discount on Bonds Payable $520.72
($22,500-$21,979.28)
Cash $22,500
(9%/2×$500,000)
(To record semiannual interest payments )
Therefore the entries to record the bond issue on January 1, 2021 is: Debit Cash $549,482; Credit Discount On bonds Payable $49,482; Credit Bonds Payable $500,000.
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what is a resume and why is it important to adopt a you attitude when preparing one?
Answer:
A resume is a form you fill out for your job, giving information on why you would be good at the job and important traits about you.
A key difference between an IRA and keogh plan is:
a) you may withdraw your money early from a keogh plan without penalty, but not from an IRA
b) you may contribute more to a keogh plan than to an IRA
c) self-employed individuals may open an IRA, but not a keogh
A key difference between an IRA and a Keogh plan is you may contribute more to a Keogh account than to an IRA.
What is a Keogh account?An account, the facility of which is granted to self-employed professionals who are involved in sole proprietorship and partnership businesses for the purpose of retirement plans and benefits is known as a Keogh Account.
An IRA, on the other hand, is a facility provided to employed individuals or professionals for the better management of their retirement plans and benefits.
Hence, option B holds true regarding a Keogh Account.
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how to solve the time value of money problems
Answer:
The Time Value of Money formula is FV = PV x [ 1 + (i / n) ] (n x t)] where V is the Future value of money, PV is the Present value of money, i is the interest rate, n is the number of impounding periods per year, and t is the number of years.
A consumer protection agency that protects students who take out student
loans is the
O A. Consumer Financial Protection Bureau
OB. Food and Drug Administration
OC. Better Business Bureau
OD. Federal Trade Commission
An opportunity cost is best described as:
Answer :
You can describe it in relation to a particular activity which is the loss of value or benefit that would be incurred (the cost) by engaging in that activity, relative to engaging in an alternative activity offering a higher return in value or benefit.
hope this helps..
Answer:
The Alternative Forgone
Explanation:
The opportunity cost simply tells us what you have to give up in other to get something else. For instance, if you have $100 to get either a phone or a console. If you eventually get the console, the opportunity cost is the phone that you have forgone.
list four factor you should consider when selecting a financial institution
Answer:
▪︎Products and Services That Fit Your Needs.
▪︎Security for Your Money.
▪︎Convenient Access to Your Cash.
▪︎Minimal Fees.
Explanation:
Assuming a country's economy maintains an 8% rate of growth, young adults starting at age 20 would see the average standard of living in their country more than double by the time they had reached age
Answer:
A) 30
Explanation:
to determine in how many years the economy will double with an 8% growth rate, we can use the rule of 72. The rule of 72 basically works by dividing 72 by the compounding growth rate to determine the number of years it will take an investment to double.
The rule of 72 works well when growth rate is between 6-10%, at 8% it is quite exact. For lower growth rates you should use the rule of 70 which is basically the same but instead of using 72, you use 70. For growth rates over 10% you should use 69.3.
the number of years for the economy to double = 72/8 = 9 years, so 9 plus 20 = 29 years. Since the question asks at what age the economy should have more than doubled, it would be a little over 29, and in this case it is 30.
You can always check which number is more exact calculating 1.08⁹ = 1.999
Santoro co produced a draft statement of the financial position at the year end which showed the owners equity of 4,50,000. It was later discovered however that the following transactions which all occurred on the last day of the financial year had not been taken into account. 1) Property which cost 3,26,000 had been revalued to 3,86,000 2) Inventories which cost 26,000 had been sold on credit for 31,000 3) The owner withdrew 22,000 in cash. 4) The trade receivable paid the amount owing of 23000 in full what will be the revised figure for owners equity after the above transactions are taken into account?
Based on the revisions to the statement for Santoro Co., the revised figure for the owner's equity would be $493,000.
What is the new figure for owner's equity?The revised figure can be found as:
= Beginning owner's equity + (Property readjustment) + Inventory readjustment - Withdrawals
Solving gives:
= 450,000 + (386,000 - 326,000) + (31,000 - 26,000) - 22,000
= $493,000
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Q.12 The owner’s equity balance of LL-company showed an increase in Br. 900,000 for the year 2018. You are provided with the following additional information: Additional investments made during the year Br. 480,000 Withdrawals during the year amounted to 35% of investment Expenses incurred during the year: Salaries Expenses 74,500 Advertising Expenses 42,000 Utilities expenses 50,000 Depreciation Expenses 80,000 Transportation Expenses 35,000 Required: (a) Calculate the revenues generated in 2018. (b) Calculate the net income or net loss for the year 2018.
a) The revenues generated in 2018 were Br. 800,025.
b) The net income for the year 2018 was Br. 518,525.
What is the increase in owner's equity?The owner's equity increases with the following factors:
Increased capital contribution.Higher profitsIncreased salesDecreased expenses.Data and Calculations:Increase in Owner's Equity = Br. 900,000
Additional investments = Br. 480,000
Withdrawals = 35% of investment expenses
= Br. 98,525 (35% x Br. 281,500)
Salaries Expenses 74,500
Advertising Expenses 42,000
Utilities expenses 50,000
Depreciation Expenses 80,000
Transportation Expenses 35,000
Total investment expenses = Br. 281,500
Net income (loss) = Br. 518,525 (Br. 900,000 -480,000 + 98,525)
Revenues = Br. 800,025 (Br. 518,525 + 281,500)
Thus, while the revenues generated in 2018 were Br. 800,025, the net income for the year 2018 was Br. 518,525.
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in your community on the negative impact of strikes as a socio economic issue on businesses
Explanation:
hooliganism
increase in poverty
insufficient revenue
decrease in productivity
Find the GDP data of a country within five years, and analyze the reasons for its growth and decline
The GDP of the United States shows sustained growth which translates into economic development. However, in 2020 it decreased due to the pandemic.
What is GDP?The gross domestic product (GDP) is a term used in economics to refer to the macroeconomic magnitude that expresses the monetary value of the production of final demand goods and services of a country or region during a given period, usually one year.
Let's analyze the GDP of the United States2016 - 18.6 billion dollars.2017 - 19.5 billion dollars.2018 - 20.6 billion dollars.2019 - 21.4 billion dollars.2020 - 20.9 billion dollars.According to the above information, it can be inferred that the United States has a high GDP as a result of its high industrialization and economic strength, however, in 2020 there was a decrease as a result of the pandemic.
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18
Select the correct text in the passage.
Which phrases explain the smart Investment made by Lu Shing and her husband?
Lu Shing is a teacher in a primary school, while her husband works in a huge bookstore. They have two kids and are concerned about their
future. Lu's husband has Invested in a few blue chip stocks listed on the NASDAQ stock exchange and earns good profits from them. Lu, on the
other hand, has invested in some safe Security bonds and fixed return annultles. They also receive monthly rent from an old penthouse in the
suburbs. Lu is also taking up violin lessons so that she can teach violin to students in her free time and pursue her passion. Her husband is a
semi-professional lawn tennis player.
Reset
Next.
The phrases that explain the smart Investment made by Lu Shing and her husband are:
"smart""sensible""low-risk"This refers to the buying of stocks or other property in hopes that it would appreciate in value over a period of time.
Hence, we can see that based on the smart investment made by the family of Lu Shing who both have stable jobs and bought stocks that are low-risk, the correct phrases to describe them are listed above.
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Answer:
Invested in a few blue chip stocks, and has invested in some safe security bonds and fixed return annuities
Explanation:
Receiving a fixed income from an investment is a great method.
Rank order the vendors keeping the seasonal products team’s needs in mind
The vendor that can change the seasonal demand of the product is Vendor V.
What is the meaning of Seasonal Product?
Seasonal Product refers to the product whose requirement occurs that the time of the season. For Example:- Requirement of the woolen clothes at the time of the winner season.
The complete question is attached below.
The team behind the seasonal product should think about using or taking Vendor V. This is due to their performance as per the diagram attached below.
It can be noticed that their performance is superior in every parameter listed in the table. Vendor V is enhancing the performance of all four elements in every parameter and is able to quickly adapt to seasonal variations.
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