You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first payment being made a year from today - into a bank account that pays 14% annual interest. Your last deposit will be less than $1,000 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal

Answer:

It will take 6.68 years to reach the $10,000 goal.

Explanation:

As the deposit of $1,000 per year is a form of the annuity payment.

We will use the following formula in order to calculate the numbers of year required to reach the goal

Future value of Annuity = Annuity payment x ( ( ( 1 + interest rate )^numbers of years ) - 1 ) / Interest rate

Where

Future value of Annuity = Target amount = $10,000

Annuity payment = Yearly deposti = $1,000

Interest rate = 14%

Numbers of years = n = ?

Placing values in the formula

Future value of Annuity = Annuity payment x ( ( ( 1 + interest rate )^numbers of years ) - 1 ) / Interest rate

$10,000 = $1,000 x ( ( ( 1 + 14% )^n ) - 1 ) /14%

$10,000 x 14% = $1,000 x ( ( ( 1.14 )^n ) - 1)

$1,400 = $1,000 x ( ( ( 1.14 )^n ) - 1)

$1,400 / $1,000 = ( ( 1.14 )^n ) - 1

1.4 = ( ( 1.14 )^n ) - 1

1.4 + 1 = 1.14^n

2.4 = 1.14^n

Log 2.4 = n x Log 1.14

n = Log 2.4 / Log 1.14

n = 6.681525965

n = 6.68 years

It will take 6.68 years to reach the $10,000 goal.

why the feedback form is so important for the trainer and the training itself?​

Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?

A sharp downturn in the U.S. housing market reduced the income of many who worked in the home construction industry. A Wall Street Journal news article reported that Walmart’s wire-transfer business was likely to suffer because many construction workers are Hispanics who regularly send part of their wages back to relatives in their home countries via Walmart. With this information, use one of the principles of economy-wide interaction to trace a chain of links that explains how reduced spending for U.S. home purchases is likely to affect the performance of the Mexican economy.

If you receive a phone call that seeks to verify or update personal information you should: ________

a. ask to speak to a supervisor.
b. ask several questions of the solicitor to verify their authenticity.
c. obtain their name and address in case you need to contact them in the future.
d. obtain their name and phone number and call them back to verify their credentials.

Karen and Anika, the owners of a new personal assistant firm called Assist You 2, are interested in offering their services in a community filled with other start-up firms and local shops. Now that they have completed the segmentation and targeting processes, to ensure that they are best positioning their service within this community, they must next:________

Mutual funds _____. a. are investment companies that use funds provided by savers to buy various types of financial assets, including stocks and bonds, in the financial markets b. cater to savers, especially individuals who have relatively small savings or need long-term loans to purchase houses c. are groups of investment banking firms formed to spread the risk associated with the purchase and distribution of a new issue of securities d. are depository institutions that are owned by its depositors, who are often members of a common organization or association e. are organizations that distribute new issues of securities for corporations

g A physical inventory taken on December 31, 2020, resulted in an ending inventory of $1,150,000. Historically, Jensen's gross margin on sales has remained constant at 25%. Jensen suspects that an unusual amount of inventory may have been damaged and disposed of without appropriate tracking. At December 31, 2020, what is the estimated cost of missing inventory

Following are the January transactions:
a) Received a $795 deposit from a customer who wanted her piano rebuilt in February.
b) Rented a part of the building to a bicycle repair shop: $545 rent received for January.
c) Delivered five rebuilt pianos to customers who paid $14,425 in cash.
d) Delivered two rebuilt pianos to customers for $7,600 charged on account.
e) Received $6,400 from customers as payment on their accounts.
f) Received an electric and gas utility bill for $750 for January services to be paid in February.
g) Ordered $1,140 in supplies.
h) Paid $3,400 on account in January.
i) Paid $16,900 in wages to employees in January for work done this month.
j) Received and paid cash for the supplies in (g).
Prepare journal entries for the above January transactions.

Differential Analysis for a Lease or Sell Decision Granite Construction Company is considering selling excess machinery with a book value of $281,300 (original cost of $401,500 less accumulated depreciation of $120,200) for $275,000, less a 5% brokerage commission. Alternatively, the machinery can be leased for a total of $283,300 for five years, after which it is expected to have no residual value. During the period of the lease, Granite Construction Company's costs of repairs, insurance, and property tax expenses are expected to be $26,200. a. Prepare a differential analysis, dated November 7 to determine whether Granite should lease (Alternative 1) or sell (Alternative 2) the machinery. Differential Analysis Lease Machinery (Alt. 1) or Sell Machinery (Alt. 2) November 7 Lease Machinery (Alternative 1) Sell Machinery (Alternative 2) Differential Effect on Income (Alternative 2) Revenues $fill in the blank 12173b05f07a00b_1 283,300 $fill in the blank 12173b05f07a00b_2 275,000 $fill in the blank 12173b05f07a00b_3 Costs fill in the blank 12173b05f07a00b_4 26,200 fill in the blank 12173b05f07a00b_5 fill in the blank 12173b05f07a00b_6 Income (Loss) $fill in the blank 12173b05f07a00b_7 $fill in the blank 12173b05f07a00b_8 $fill in the blank 12173b05f07a00b_9

Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $800 and her savings account is worth $1,500. She owns her own home that has a market value of $103,000. She has furniture and appliances worth $10,500 and a home computer and laptop worth $3,100. She has a car worth $14,000. She has recently purchased an annuity worth $5,400 and she has a retirement account worth $44,000. What is the value of her liquid assets

Your firm expects sales of $672,500 next year. The profit margin is 4.6 percent and the firm has a dividend payout ratio of 15 percent. What is the projected increase in retained earnings

Planning to finance higher education helps people prepare for their financial future because it teaches them about

loans and interest.
savings accounts.
filing taxes
short-term goals.

Ethnocentric managers believe that their native country, culture, language, and behavior need to be changed. are equal to all other cultures. make them citizens of the world. are hurtful to others. are superior to all others.

Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio
Consider the following case:
Crawford Construction has a quick ratio of: 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current assets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $100,000 in the most recent annual report.
Over the past year, how often did Crawford Construction sell and replace its inventory?
a. 4.14 x
b. 4.55 x
c. 2.86x
d. 8.01 x
The inventory turnover ratio across companies in the construction industry is 4.55x. Based on this information, which of the following statements is true for Crawford Construction?
a. Crawford Construction is holding less inventory per dollar of sales compared to the industry average
b. Crawford Construction is holding more inventory per dollar of sales compared to the industry average

Thomlin Company forecasts that total overhead for the current year will be $15,000,000 with 300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is

Ravine Corporation purchased 30 percent ownership of Valley Industries for $94,800 on January 1, 20X6, when Valley had capital stock of $260,000 and retained earnings of $56,000. During the period of January 1, 20X6, through December 31, 20X9, the market value of Ravine's investment in Valley's stock increased by $11,000 each year. The following data were reported by the companies for the years 20X6 through 20X9:
Dividends Declared
Year Operating Income, Ravine Corporation Net Income, Valley Industries Ravine Valley
20X6 $ 140,000 $ 30,000 $ 70,000 $ 20,000
20X7 80,000 50,000 70,000 40,000
20X8 220,000 10,000 90,000 40,000
20X9 160,000 40,000 100,000 20,000
Required:
a. What net income would Ravine Corporation have reported for each of the years, assuming Ravine accounts for the intercorporate investment using the cost method and the equity method?
b-1. Give all appropriate journal entries for 20X8 that Ravine made under the cost method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $66,500 Work-in-Process Inventory, Beginning 11,100 Work-in-Process Inventory, Ending 9,300Selling and Administrative Expense 15,750 Finished Goods Inventory, Ending 15,825Finished Goods Inventory, Beginning Direct Materials Used Skipped Factory Overhead Applied 12,300Operating Income 14,165 Direct Materials Inventory, Beginning 11,135 Direct Materials Inventory, Ending 6,105Cost of Goods Manufactured 61,410 Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The CFO of Conrad, Inc. has asked you to recalculate the following accounts and to report to him by the end of the day. What is the amount in the finished goods inventory at the beginning of the year?

Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest $15,100 cash and merchandise inventory valued at $40,800. Capri invests certain business assets at valuations agreed upon, transfers business liabilities, and contributes sufficient cash to bring his total capital to $101,000. Details regarding the book values of the business assets and liabilities, and the agreed valuations, follow: Capri's Ledger Balance Agreed-Upon Balance Accounts Receivable $23,100 $18,700 Allowance for Doubtful Accounts 1,000 1,300 Merchandise Inventory 26,900 36,000 Equipment 45,300 43,900 Accumulated Depreciation-Equipment 15,100 Accounts Payable 8,200 8,200 Notes Payable (current) 5,000 5,000
The partnership agreement includes the following provisions regarding the division of net income: interest of 10% on original investments, salary allowances of $36,000 (Lang) and $22,000 (Capri), and the remainder equally.
Required:
1. Journalize the entries to record the investments of Lang and Capri in the partnership accounts. For a compound transaction, if an amount box does not require an entry, leave it blank.
ACCOUNT DEBIT CREDIT
Apr. 1
Apr. 1
2. Prepare a balance sheet as of April 1, 20Y1, the date of formation of the partnership of Lang and Capri.
Lang and Capri
Balance Sheet
April 1, 20Y1
Assets
Current assets:
Total current assets $
Property, plant, and equipment:
Total assets $
Liabilities
Current liabilities:
$
Total liabilities $
Partners' Equity
$
Total partners' equity
Total liabilities and partners' equity $
3. After adjustments at March 31, 20Y2, the end of the first full year of operations, the revenues were $598,000 and expenses were $480,000, for a net income of $118,000. The drawing accounts have debit balances of $40,000 (Lang) and $30,000 (Capri). Journalize the entries to close the revenues and expenses and the drawing accounts at March 31, 20Y2. For a compound transaction, if an amount box does not require an entry, leave it blank.
ACCOUNT DEBIT CREDIT
Mar. 31
Mar. 31

PC Company uses the weighted-average method in its process costing system, in which all materials are added at the beginning of the process, and conversion costs are incurred uniformly. The Painting Department started the month with 800 units in a process that was 40% complete, transferred 2,500 units to Finished Goods Inventory, and had 500 units in process at the end of the period, 70% complete. The amount of direct materials cost in beginning inventory was $16,320, and the amount of direct materials cost added this period totaled $121,440.
What is the direct material cost per equivalent unit?
a. $45.92 per equivalent unit
b. $48 per equivalent unit
c. $48.34 per equivalent unit
d. $55.20 per equivalent unit

∑⊂⊃⊃⊆⊇⊄⊅∀⇵←→∨∧∉∈⇔∛ what do this means
[tex]\left[\begin{array}{ccc}1&2&3\\4&5&6\\7&8&9\end{array}\right][/tex]

Lego Group in Bellund, Denmark, manufactures Lego toy construction blocks. The company is considering two methods for producing special-purpose Lego parts. Method 1 will have an initial cost of $360,000, an annual operating cost of $130,000, and a life of 3 years. Method 2 will have an initial cost of $760,000, an operating cost of $130,000 per year, and a 6-year life. Assume 13% salvage values for both methods. Lego uses an MARR of 13% per year.

Required:
a. Which method should it select on the basis of a present worth analysis?
b. If the evaluation is incorrectly performed using the respective life estimates of 3 and 6 years, will Lego make a correct or incorrect economic decision? Explain your answer.

All of the following are positive outcomes of employee development except: Group of answer choices development enhances the organization's capacity to control environmental forces. development increases the chances that the most capable employees will be attracted to work in the organization. development enhances retention. development ensures that employees have the knowledge and skill to effectively perform in the future.

Hochberg Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total Activity Fabrication 50,000 machine-hours Order processing 625 orders Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: Wages and salaries $ 461,000 Depreciation 123,000 Occupancy 207,000 Total $ 791,000 The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools Fabricating Order Processing Other Total Wages and salaries 15% 65% 20% 100% Depreciation 15% 40% 45% 100% Occupancy 20% 75% 5% 100% The activity rate for the Fabrication activity cost pool is closest to:

Moby Enterprises reports the following information for 2019. ($ numbers are totals for 2019, not per unit) Selling price per unit $800 Beginning and ending balances of Work in Process Inventory 0 Beginning balance of Finished Goods Inventory (50 units) $28,750 Units produced 90 Units sold 100 Direct material used (variable) $12,000 Direct labor used (variable) $28,000 Manufacturing overhead (variable) $4,550 Manufacturing overhead (fixed) $10,800 Selling and admn. expenses: sales commission (variable) $4,000 fixed $10,000 Notes: Moby uses FIFO for maintaining its finished goods inventory account. The Beginning Finished Goods Inventory balance of $28,750 consists of $24,250 in variable manufacturing costs and $4,500 of fixed manufacturing overhead. REQUIRED: Part 1. Compute the following for 2019 using absorption costing: a. Total Manufacturing Costs b. Cost-of-Goods-Manufactured c. Per unit cost of production d. Ending balance of Finished Goods Inventory (in units and dollars) e. Cost-of-goods sold f. Gross Margin g. Net Income Part 2. Identify clearly how the fixed manufacturing overhead (both that in the opening inventory and that incurred in 2019) has moved.

Your restaurant plans to spend $1,000 on social media ads. Your average meal sells for $10 and food cost is 30%. How
many additional meals do you need to sell to breakeven on your advertising?
Ignore all
other restaurant costs except food cost
a) 100 meals
b) 132 meals
c) 143 meals
d) 1000 meals

A consumer faces a tradeoff between labor (L) and leisure (R). She consumes a composite good (C). When the consumer works, she earns an hourly wage of $14.00, and she spends a maximum of 24 hours on labor and leisure, but she chooses to work 10.00 hours. Whatever time she does not spend working, she spends on leisure. She starts with an initial endowment of 21.00 units of the composite good, which she can buy and sell freely at a market price of $12.00.

Required:
What is the consumer's real wage?

Riverbed Corp provides security services. Selected transactions for Riverbed Corp are presented below. Oct. 1 Issued common stock in exchange for $67,300 cash from investors. 2 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $2,000. 7 Purchased equipment for $18,400, paying $4,100 cash and the balance on account. 8 Paid $500 for advertising. 10 Received bill for equipment repair cost of $400. 12 Provided security services for event for $3,300 on account. 16 Purchased supplies for $420 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $151. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5,200.
Date Account Titles and Explanation Debit Credit 1 Cash 67,300 Common Stock 67,30 2 No Entry No Entry Rent Expense 2.000 Cash 2.06 Equipment 18,400 Cash 4.10 Accounts Payable 1436 Advertising Expense 1,700 Cash 1.70 10 Maintenance and Repairs Expense 420 Accounts Payable 42 12 Accounts Receivable 3.300 Service Revenue 3,30 16 Supplies 420 Accounts Payable 21 V Accounts Payable 14300 Cash 1434 24 Utilities Expense 151 Cash 15 27 Cash 3,300 Accounts Receivable 3.30 31 > Salaries and Wages Expense 5.200 Cash 5.26 Post the transactions to accounts. (Post entries in the order of journal entries presented in the previous port. For accounts with zero balance select "Balance from the list and enter or leave it blank) Cash < < < < Accounts Receivable Supplies Equipment < Accounts Payable < Common Stock Accounts Payable < Common Stock Service Revenue Advertising Expense Salaries and Wages Expense Maintenance & Repairs Expense V Rent Expense < Utilities Expense <

Jerome has insignificant influence of Melina Corporation because it owns less than 20% of the voting stock. The cost of the Melina stock is $5,000 and has a fair value of $6,000 on December 31 at the end of the first year it held the securities. Complete the necessary adjusting entry selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.

How does information management differ from a management information system (MIS) ?


​

A person who is an entrepreneur is also a businessperson. true or false?​