A father plans to set aside Php250,000 for his son's college education. If he wishes to have Php500,000 in 5 years, at what rate converted monthly should he invest his money? 3.
Q: Given the following data for Carla Vista Company, compute (A) total manufacturing costs and (B)…
A: MANUFACTURING COST Manufacturing cost include all Direct Cost (Direct labour & Direct…
Q: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120…
A: Introduction: A stock split results into issuance of additional shares however it also reduced the…
Q: oday I advised the president of Crane Corporation regarding his November 25 letter. Crane…
A: As per question Legal fees are not deductible against redemptions, but you might be able to if the…
Q: A soft drink bottler incurred the following factory utility cost: $3,511 for 900 cases bottled and…
A: Variable cost changes with the level of units proportionately which means, the variable cost per…
Q: Bramble Corporation manufactures titanium and aluminum tennis racquets. Bramble's total overhead…
A: Activity-based costing is used to allocate overhead expenses on the basis of activity. Other than…
Q: The unadjusted trial balance at the end of the year includes the following: Accounts Receivable $…
A: Lets understand the basics. For following matching principle of accounting, entity generally create…
Q: The corporation is the most effective form of business organization because the corporation has:…
A: There are many forms of business organization in which the business can be registered or…
Q: HomeLife Life Insurance Company has two service departments (actuarial and premium rating) and two…
A: The total cost is the cost that is actually incurred by the company. The total cost is allocated to…
Q: 1: Mortimer Klein earned gross pay of $1,340 Each period he makes a 401(k) contribution of 3% of…
A: Social Security Tax Both self-employed taxpayers and those who are employed are subject to the…
Q: Exercise 11-17 (Algo) Preparing a statement of retained earnings LO C3 Prepare a statement of…
A: RETAINED EARNINGS Retained earnings Account are shown under the Shareholders Equity in the…
Q: Berry Company purchased inventory on account for $1,000 with credit terms 2/10, n/30 on May 2. The…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Following is a list of various costs incurred in producing replacement automobile parts. With…
A: Mixed costs are those costs which have two things present in it which is variable portion as well as…
Q: Personal Engineering has purchased a machine that will see output increase from 2 million units to 5…
A: Free cash flow refers to the cash that is generated by the company after considering all the cash…
Q: An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's…
A: The contribution margin is the additional revenue made for each product or unit sold after the…
Q: Dazzle, Inc. produces beads for jewellery making use. The following information summarizes…
A: Use of direct materials results in reduction in raw materials.
Q: . The City of Katerah maintains its books and records in a manner that facilitates the preparation…
A: Generally, an organization runs a business for profit. But some organizations are not run for profit…
Q: Sales Total manufacturing cost Administrative expenses Selling expenses Work in process inventory,…
A: The net income is the difference between the gross margin and the selling and administrative…
Q: w step by step solution: Cost-volume-profit analysis. PJ Company produces one type of sunglasses…
A: Selling price per unit is sales revenue upon Total Quantity Sold Variable cost per unit is Total…
Q: Determine the consolidated assets as of December 31. On January 1, ABC Acquired 60 percent of the…
A: An acquisition is when a company purchases all shares of another company to gain control of that…
Q: Apply the tax benefit rule to determine the amount of the state income tax refund included in gross…
A: Income tax: - Income tax is the tax charged upon the total earning of the individual after all…
Q: The 2022 and 2023 financial statements of Martinez Inc. contained the following errors: Ending…
A: INCOME STATEMENT Income statement is One of the Important Financial statement of The Company. It…
Q: Mills Corporation acquired as a long-term investment $270 million of 8% bonds, dated July 1, on July…
A: Introduction long-term investment: An account that a business intends to hold for at minimum a…
Q: Compute the missing amounts in the separate income statements A, B, and C. Sales Cost of goods sold…
A: Gross profit can be calculated by deducting the cost of goods sold from sales and the net income is…
Q: Hello, I am a bit stuck about the topic of T accounts for Debits and Credits. Could you maybe…
A: The account is a summary showing the detail of the transaction that took place. The account is a…
Q: Knowledge Check 01 Assume that we use a perpetual inventory system and that five identical units are…
A: calculation of cost of ending inventory under weighted average inventory costing method are as…
Q: On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of…
A: The taxes are the charge over the profit or income of the firm earned during the tax year. The…
Q: Number 14 on image. Also I need to compute the npv for each alternative and assume the discount rate…
A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: s with a contribution margin of $500 per unit. The on margin of $300 per unit. Which order will you…
A: The order that will be accepted will be the order that gives the highest total contribution margin…
Q: A credit union advertises savings account interest at 2.5 percent compounded weekly and chequing…
A: The effective rate of interest corresponding to a stated rate of interest r compounded m times per…
Q: Shaker Stairs Co. designs and builds factory-made premium wooden stairways for homes. The…
A: Predetermined overhead rate is the rate which is estimated at the beginning of the period in order…
Q: Pepper Corporation owns 70 percent of Salt Company’s stock. In the 20X9 consolidated income…
A: The combined financials of a parent firm and its subsidiaries are known as consolidated financial…
Q: The law firm END, LLP provides legal services to a wide range of clients in the KC area. The firm…
A:
Q: Brian Sipe began operations of his business, Sipe Sons Incorporated, on January 1, Year One. During…
A: In the business owner sells the goods to customers in cash and credit. When the owner sells, cash…
Q: Under a perpetual inventory system, is it necessary to take a physical inventory at the end of the…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Following are selected income statement data from two European grocery chain companies: Tesco PLC…
A: The balance sheet and income statement are the important financial statements of the business. The…
Q: I got a different answer. Is the answer 1.08?
A: Beta of the portfolio is the weighted average beta of all the securities in the portfolio. It is…
Q: PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alt- [LO 9-2, LO 9-3]…
A: Answer :Double declining depreciation rate = 2*(100%/Estimated useful life in year) Double declining…
Q: The following stockholders' equity accounts, arranged alphabetically, are in the ledge Common Stock…
A: Balance sheet shows the financial position of the company. It involve the assets, liabilities, and…
Q: In reviewing Smith's assessments and conclusions, has he proposed the optimal recommendations?…
A: Question -3 Costing System - A costing system is created to keep track of the costs incurred as a…
Q: Scoring: Your score will be based on the number of correct matches. There is no penalty for…
A: Step 2 in the solution.
Q: Adams Company is a manufacturing company that has worked on several production jobs during the first…
A: The sales revenue is calculated as sum of cost and profit. The cost of goods include the total cost…
Q: Using the tax formula calculate the taxpayer’s AGI for 2021. The taxpayer is single. Wages $50,000…
A: AGI is Adjusted gross income. The gross income after all the eligible tax deductions has been made…
Q: Marigold Company applies overhead on the basis of machine hours. Given the following data, what is…
A: Overhead cost is applied on the basis of a cost driver which is machine hours in the given question.…
Q: Sports Manufacturing Company produces baseball bats. They have recently moved from handcrafted bats…
A: The question is based on the concept of Cost Accounting.
Q: The following data pertains to activity and costs for two months:
A: Production cost is the cost incurred by the company on the production process. The production is…
Q: The following are a list of terms. ______ 1) Additional paid in capital ______ 2) Authorized…
A: Accounting Terminology: Accounting, in its most fundamental meaning, refers to the practice of…
Q: Dowell Company produces a single product. Its income statements under absorption costing for its…
A: Variable Cost :— It is the cost that changes with change in units. Variable cost of goods sold is…
Q: On July 1, Novak Corporation purchases 570 shares of its $5 par value common stock for the treasury…
A: The question is based on the concept of Financial Accounting. When the company buyback its own…
Q: Cameron Corp. uses the dollar-value-LIFO (DVL) inventory costing method. 2020 is the base year.…
A: Inventory is the current asset reported under the head current assets in the balance sheet of the…
Q: c. Assume Tyler and Candice have adjusted gross income of $88,000 before considering their Social…
A:
ANSWER EVERYTHING AND PLEASE DO THIS TYPEWRITTEN FOR UPVOTE
Step by step
Solved in 2 steps
- 3. A young engineering student has just graduated in college. He is able toobtain his first job and desires to establish a retirement fund. At the end of every year,he deposits ₱5,000. Money is worth 12% compounded annually. How old is he whenthe fund has an accumulated value of ₱2M?2. Ms. Pan Aram has set the goal of accumulating Php 4,000,000 for her son's college fund, which will be needed 18 years in the future. Her investment agent advises her that she can deposit today to Bank X that earns 8% annual interest. a. Option A: How much she needs to deposit today in the bank? b. Option B: If she will be depositing an equal payment of Php 107,000 per year for 18 years at 8% annual interest, how much is the future value? c. Which is the better option Ms. Pan should decide? Why?4. On the birth of a child, a father wished to invest in a trust fund which gives 12% compounded quarterly. How much must he invest if he wants to accumulate P650,000 by the time the child reaches his 21st birthday? 5. To provide for a purchase of a car worth P950,000 as a gift to his mother 5 years from now. How much should Benjamin invest today at 18% compounded quarterly? 6. Mrs. Dela Cruz invested P70,000 at 12% compounded quarterly for 5 years and another P70,000 at 18% compounded semi-annually for the same length of time. Find the total amount of the two investments. NOTE: SOLVE ASAP!!! DONT USE EXCEL PLEASE! Thank you
- 2. a man invests P 10,000 now for the college education of his 2 year old son. If the fund earns 14% effective, how much will the son get each year starting from his 18th to the 22nd birthday?1.Assume the total cost of a university education will be P250 000 when your child enters university in 18 years. You presently have P43 000 to invest. What rate of interest must you earn on your investment to cover the cost of your child’s university education?Suppose you have a 4-year-old son and you want to provide R55 000 in 16 years towards his college education. You currently have R5 000 to invest. What interest rate must you earn to have the R55 000 when you need it?
- 4. Millet wants to provide a ₱200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be?5. Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3 years. She will have enough to pay for the trip if she invests $2,500 per year until that anniversary and plans to make her first $2,500 investment on their first anniversary. Assume her investment earns a 4 percent interest rate, how much will she have saved for their trip if the interest is compounded in each of the following ways?a. Annually b. Quarterly c. Monthly7. You need a P70, 000.00 per year for four years to go to college. Your father invested an amount of P100, 000.00 in a 7% account for your education when you were born. If you withdraw the money worth P70, 000.00 at the end of your 18th, 19th, 20th and 21st years, how much much money will be left in the account at the end of your 22nd year?
- 2. Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3 years. She will have enough to pay for the trip if she invests $2,500 per year until that anniversary and plans to make her first $2,500 investment on their first anniversary. Assume her investment earns a 4 percent interest rate, how much will she have saved for their trip if the interest is compounded in each of the following ways? a.Annuallyb. Quarterlyc. Monthly9. A father wants to set aside money for his 5-year old son's future college education. Money can be deposited in a bank account that pays 8.28 % per year, compounded annually. What equal deposits should be made by the father on his son's 6th through 17th birthday, in order to provide Php 5507 on the son's 18th, 19th, 20th, and 21st birthday? Round off to two decimal places.3. A man invests P 10,000 now for the college education of his 2 year old son. If the fund earns 14% effective interest rate, how much will his son get each year starting from his 18th to the 22nd birthday.