The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18. O a. P8,951.74
Q: 12. Government assistance is action by government designed to provide an economic benefit specific…
A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…
Q: What amount will be reported as an adjustment to the beginning balance of retained earnings to…
A: Every organization uses some assets to conduct business, such as equipment, machinery, motors, and…
Q: Data are as follows: In year 2020, sales are 150,000 units with Selling price per unit of 10 and VC…
A: EBIT: EBIT stands for Earnings before interest and tax. EBIT is calculated after adding the interest…
Q: Honda Motor Company is considering offering a $2,100 rebate on its minivan, lowering the vehicle's…
A: Honda Motor Company can increase the figure of sales by providing rebates to the customers. like in…
Q: Molokomme Limited acquired all the assets and liabilities of Mashiane Limited at 1 January 2016 for…
A: A company acquires another company's business. The purpose of acquiring other's business is to…
Q: Karasuma and Irina are partners who have capitals of P6,000 and P4,800 and who share profits in the…
A: As per the given information: Capital of Karasuma and Irina - P6,000 and P4,800Profit sharing ratio…
Q: PQB Inc. designs and fabricates movie props such as mock-ups of star fighters and cybernetic robots.…
A: Job costing is the method of costing used to determine the manufacturing cost of each product. This…
Q: Why do you think some private corporation choose to go public and why might others decide to remain…
A: The public markets were used to raise cash, which led to the creation of some of the biggest and…
Q: adjusted cash at bank account and bank reconciliation
A: Adjusted cash balance is the balance which as the name states has been adjusted so that the balance…
Q: General factory Machine hours logged Based on the above descriptions, which of the following…
A: Manufacturer manufacture products with the use of machines, use labor, and incurred costs such as…
Q: ABC Corp manufactures several lines of skiing equipment. Its Canada plant makes a single model, the…
A: For finding adjusted net income under the standard absorption costing we need to prepare Income…
Q: Vidhi is investing in some rental property in Collegeville and is investigating her income from the…
A: Present worth is the method of determining the anticipated present value of future money with…
Q: Prepare Income Statement for the year ended 31 December 2021.
A: Income statement is one of the important financial statement being prepared in business. Main…
Q: Which of the following statements are true? (i) If an investor has more than 50% ownership, it…
A: Answer: option c
Q: Help fill in statement sheet
A: 1. Accounting Equation - Accounting Equation is calculated using following equation - Assets =…
Q: 2. The accounting firm involved in this case wants to know if their independence will be questioned…
A: The auditor (individually), as well as the auditors (firm), must preserve their mental independence…
Q: P486,000
A: P486,000 The taxpayer's taxable net income would be P486,000. This is calculated by taking the gross…
Q: Consider the unadjusted trial balance of Spateness, Inc. at December 31, 2020, and the related…
A: Adjusting Entries - Adjusting Entries required to calculate actual expenses and income earned and…
Q: The following data is provided for Garcon Company and Pepper Company for the year ended December 31.…
A: INCOME STATEMENT Income Statement is a Nominal Account which include all Revenue from Operation…
Q: How much is the income tax payable of the corporation?
A: ANSWER: The income tax payable of the corporation is P250,000. Step-by-step explanation Resident…
Q: A used car was purchased for $20,000 and sold 9 years later for $2,500. Its annual maintenance is…
A: The question is based on the concept Annuity in Financial Management. Annuity refers to the series…
Q: Luzadis Company makes furniture using the latest automated technology. The company uses a job-order…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Company K operates in a jurisdiction that levies an income tax with the following rate structure:…
A: Taxable Income before deduction -$69200 As income less than $75000 applicable tax rate id 7% Tax…
Q: Cand D form the CD, LLC even partnersh contributed land with an adjusted basis c and FMV of $100. D…
A: LLC is limited liability in which there can be more than one partner and risk is the amount of…
Q: ABC Company hired X as an independent contractor, whereby ABC has no power to control X's conduct.…
A: Income Tax Liability: The entire amount of unpaid taxes owing to the government by a person,…
Q: Income statement Statement of owner’s equity Balance Sheet
A: Income statement shows the net income or net loss that is calculated by deducting the expenses from…
Q: Owl Inc. received $8,000 in cash as a deposit for services to be preformed later in the month. When…
A: Introduction:- A journal entry is used to document a commercial transaction in the books of accounts…
Q: Question: Which of the following is not a control over debtors? a. investigation the credit…
A: Debtor management systems refers to all the activities that a company undertakes to keep control…
Q: I. Creditors have voice in management, thru its voting power. II. Shareholders are prioritized…
A: Creditors are given the option to vote in view of a fundamental presumption that they will project…
Q: Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories.…
A: Plant wide overhead rate :— It is the predetermined overhead rate which is used to allocate…
Q: A businessman borrowed P 50,000 today from bank with interest rate of 8% compounded quarterly…
A: Answer : Quarterly interest rate = 8%/4 = 2% Number pf quarter in 10 years = 10*4 = 40 Loan amount =…
Q: ABC Manufacturing Company had the following account balances for the quarter ending March 31:…
A: The term "cost of goods manufactured" refers to a statement that details all manufacturing expenses…
Q: X Corp paid dividends to OS last year by 2.20 per share. The current market price of Ordinary Shares…
A: Cost of equity (Ke) :— It is rate of return expects by common equity shareholders on their…
Q: Which of the following items would appear on the consolidated statement of financial position at the…
A: Answer: Option a
Q: Problem 3 East Company submits the following data for May, 2022 Direct labor cost Cost of goods sold…
A: Hi student Since there are multiple questions, we will answer only first question. If you want…
Q: An offshore banking unit had the following offshore banking transactions within the Philippines…
A: Philippines is set to be tax heavens for offshore banking transaction because there is very low and…
Q: The table below shows monthly data collected on production costs and on the number of units produced…
A: As per the Honor code of Bartleby we are bound to given the answer of three sub part only, Please…
Q: The following balance sheet for the Los Gatos Corporation was prepared by a recently hired…
A: The question is based on the concept of Financial Accounting.
Q: Hart Company sold 5,000 units for a price of $50 per unit and had the following information:…
A: Introduction: The term "contribution margin" can be applied to any aspect of a business, including…
Q: We have been asked to analyze our denim jeans line by labor cost (from $13.00 to $16.00 by $0.25)…
A: Profit is the amount of money earned by an entity. It is computed by reducing the costs from the…
Q: The dividen rate of taxation for a higher tax bracker earler is: a. 12.5% Ob. 32.5% O c. 38.1% Od.…
A: According to the given question, we are required to find out the correct option from the available…
Q: Superior Company provided the following data for the year ended December 31 (all raw materials are…
A: Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred for manufactured…
Q: A resident citizen has the following data in 2022: Gross receipts from services, P800,000 Cost of…
A: Optional Standard Deductions A deduction equivalent to no more than 40% of their gross sales or…
Q: Question one of the features of private companies is that it does not restrict any number of persons…
A: Company - A group of people can come together to form a corporation, which is a legal body used to…
Q: Barstow Manufacturing Company has two service departments — product design and engineering support,…
A: In the reciprocal method, expenditures generated by service departments are distributed to other…
Q: The table below lists the principal amounts of each bill auctioned and the scale of bidding on 26th…
A: Bid-to-cover ratio The monetary amount of bids that were received compared to the amount of…
Q: Presented below is information related to equipment owned by Bramble Company at December 31, 2020.…
A: Introduction: A journal entry is used to record a business transaction in the company's accounting…
Q: 28 February 2015, at a profit mark up of 25% on cost price. On 28 February 2015 inventories to the…
A: When parent company and subsidiary company financial statements are consolidated, then intra…
Q: Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product…
A: The joint cost is the cost when a firm manufactures various goods and the cost function is not…
Q: What kind of discount is designed to encourage prompt payment from customers? O Cash Discounts O…
A: Answer:- Discount meaning:- A discount is the sum that is subtracted from the marked price; it…
Step by step
Solved in 2 steps with 1 images
- The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18.When your son is born you want to determine what lump amount would you have to be paid into an account bearing interest of 10%/yr to provide withdrawals of $10,000 on each of your son's 18th, 19th, 20th, and 21st birthday9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Ryan inherited an annuity worth $3,280.16 from his uncle. The annuity will pay him five equal payments of $800 at the end of each year. The annuity fund is offering a return of Ryan's friend, Sebastian, wants to go to business school. While his father will share some of the expenses, Sebastian still needs to put in the rest on his own. But Sebastian has no money saved for it yet. According to his calculations, it will cost him $30,044 to complete the business program, including tuition, cost of living, and other expenses. He has decided to deposit $4,200 at the end of every year in a mutual fund, from which he expects to earn a fixed 7% rate of return. It will take approximately for Sebastian to save enough money to go to business school.
- Q.1. You decide you want your child to be a millionaire. You have a son today and you deposit $15,000 in an investment account that earns 9% per year. The money in the account will be distributed to your son whenever the total reaches $1,000,000. How old will your son be when he gets the money (rounded to the nearest year)?Suppose you have a 1-year old daughter and you want to provide R81 000 in 19 years towards hercollege education. You currently have R2 000 to invest. What interest rate must you earn to havethe R81 000 when you need it?19. Andrew wants to open an account for his grandson that he hopes will have$30,000 in it when he turns 21. How much should he put into an accountmonthly that earns 2.5% interest, compounded monthly, if he begins when hisgrandson is born?A. $84.46B. $96.47C. $90.64D. $73.44
- 9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Joshua inherited an annuity worth $6,830.77 from his uncle. The annuity will pay him eight equal payments of $1,100 at the end of each year. The annuity fund is offering a return of Joshua's friend, willie, has hired a financial planner for advice on retirement. Considering Willie's current expenses and expected future lifestyle changes, the financial planner has stated that once Willie crosses a threshold of $1,387,311 in savings, he will have enough money for retirement. Willie has nothing saved for his retirement yet, so he plans to start depositing $25,000 in a retirement fund at a fixed rate of 6.00% at the end of each year. It will take v for Willie to reach his retirement goal.9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. A. Anthony inherited an annuity worth $3,811.62 from his uncle. The annuity will pay him four equal payments of $1,100 at the end of each year. The annuity fund is offering a return of . B. Anthony’s friend, Jack, wants to go to business school. While his father will share some of the expenses, Jack still needs to put in the rest on his own. But Jack has no money saved for it yet. According to his calculations, it will cost him $32,406 to complete the business program, including tuition, cost of living, and other expenses. He has decided to deposit $4,200 at the end of every year in a mutual fund, from which he expects to earn a fixed 10% rate of return. It will take approximately for Jack to save enough money to go to business school.A couple plans to save for their child's college education. What principle must be deposited by the parents when their child is born in order to have 38? $1000 when? The child. Reaches? The age of eighteen assume the money earns nine percent interest compounded quarterly
- A mother wants to insure the education of his son. On the 7th birthday of the son, he invest in a fund the amount of P 200,000.00 earning at 6.5% interest rate compounded monthly; on the 10th birthday another P 200,000.00 at an interest rate of 7.3% compounded monthly: on the 15th birthday another sum of money at 8% compounded monthly. If on the 18th birthday the son have a total withdrawable amount of P1.3M, how much is the 3rd investment?Sara wants to have $530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time? OA. $112,357 OB. $202,243 OC. $119,492 O D. $157,300You deposit a lump sum P in a trust fund on the day your child is born. The fund earns 6.5% interest compounded continuously. Find the amount P that will yield the given balance A on your child's 27th birthday. (Round your answer to the nearest cent.) A = $5,000,000 P = $