BUSINESS COLLEGE

Brandon Ramirez wants to set up a scholarship at his alma mater. He is willing to invest $320,000 in an account earning 11 percent. What will be the annual scholarship that can be given from this investment

Answers

Answer 1
Answer:

Answer:

$35,200

Explanation:

Given that

Invested amount = $320,000

Rate of interest = 11%

So by considering the above information, the amount of annual scholarship that can be given from this investment is  

= Invested amount × Rate of interest

= $110,000 × 11%

= $35,200

By multiplying the invested amount with the rate of interest we can find out the annual scholarship amount

Related Questions

In-process research and development acquired in a business combination is Select one: A. credited to the Equity Investment account. B. recorded as indefinite-lived intangible assets, subject to amortization. C. expensed, consistent with the accounting treatment of a firm's own R & D expenditures. D. recorded as an indefinite-lived intangible asset, and annually tested for impairment.
During January, Luxury Cruise Lines incurs employee salaries of $2.9 million. Withholdings in January are $221,850 for the employee portion of FICA, $435,000 for federal income tax, $181,250 for state income tax, and $29,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $179,800 for federal and state unemployment tax and $87,000 for the employer portion of health insurance.Required:A) Record the employee salary expense, withholdings, and salaries payable.B) Record the employer-provided fringe benefits.C) Record the employer payroll taxes.
Mary is the Chair of the Board of Directors for a private equity company. She is leading the team selecting a new CEO. She has asked you for advice on what characteristics she should seek out in candidates that may be important to their job success. What trait would you recommend that she look for in​ candidates?A.High conscientiousnessB.Low opennessC.High agreeablenessD.High neuroticismE.Low extraversion
What are the threats for online shopping​
Flex Co. just paid total dividends of $1,100,000 and reported additions to retained earnings of $3,300,000. The company has 725,000 shares of stock outstanding and a benchmark PE of 17.4 times. What stock price would you consider appropriate

At December 31, 2017, Sweet Corporation had a projected benefit obligation of $561,600, plan assets of $331,900, and prior service cost of $120,300 in accumulated other comprehensive income. Determine the pension asset/liability at December 31, 2017. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Pension asset/liability at December 31, 2017

Answers

Answer:

Pension liability at December 31, 2017 is ($229,700)

Explanation:

Projected benefit obligation                         $561,600

Less: Plan assets                                           $331,900

Pension liability at December 31, 2017     -$229,700

On January 2, 2021, Ivanhoe, Inc. signed a 10-year noncancelable lease for a heavy duty drill press. The lease stipulated annual payments of $320000 starting at the beginning of the first year, with title passing to Ivanhoe at the expiration of the lease. Ivanhoe treated this transaction as a finance lease. The drill press has an estimated useful life of 15 years, with no salvage value. Ivanhoe uses straight-line depreciation for all of its plant assets. Aggregate lease payments were determined to have a present value of $1966261, based on implicit interest of 10%.In its 2021 income statement, what amount of interest expense should Ivanhoe report from this lease transaction?

Answers

Answer:

interest expense:    $ 164,621.65

Explanation:

We solve for the present value of the lease value:

C * (1-(1+r)^(-time) )/(rate) = PV\n

C 320,000.00

time 10

rate 0.1

320000 * (1-(1+0.1)^(-10) )/(0.1) = PV\n

PV $1,966,261.4738

We made the first payment which decrease our payable:

1,966,261.47 - 320,000 = 1,646,261.47‬

And now, from this amount we solve for the interest expense:

And now, we calculate the 10% interest for the year:

1,646,216.47 x 10% = 164,621.65 interest expense

QS 3-7 Adjusting prepaid (deferred) expenses LO P1 For each separate case, record the necessary adjusting entry. On July 1, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchased $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31.

Answers

Answer:

S/n   General Journal              Debit      Credit

a       Insurance expense        $1,200

               Prepaid Insurance                   $1,200  

        (To record insurance expired)

b       Supplies expense          $6,200

                Supplies                                  $6,200

                ($5,000 + $2,000 - $800)

         (To record supplies used)

Final answer:

Lopez company should adjust their prepaid insurance and Zim company should adjust their supplies account due to their use during the year. Both adjustments will be debits to relevant expense accounts & credits to Prepaid Insurance for Lopez, and Supplies for Zim.

Explanation:

The two adjustments that need to be made are for the prepaid insurance and the supplies. To compute the adjustment for the prepaid insurance, we would divide the total insurance payment by the number of months covered to find the monthly cost. For Lopez Company, six months of insurance is valued at $1,200, therefore the monthly cost is $200. From July 1 to December 31, six months have passed, so $1,200 of insurance has been used up. As a result, we need to debit the Insurance Expense account by $1,200 and credit Prepaid Insurance by $1,200.

Regarding Zim Company, the beginning balance in the Supplies account was $5,000, and it purchased $2,000 more throughout the year - that sum up to $7,000 of total supplies. At the end of the year, they still had $800 left, so they used $6,200 of supplies during the year. The adjustment will be a debit to Supplies Expense by $6,200 and a credit to Supplies by $6,200, reflecting the fact that those supplies are no longer available for use.

Learn more about Adjusting Entries here:

brainly.com/question/33175618

#SPJ3

Many demographers predict that the United States will have zero populationgrowth in the twenty-first century, in contrast to average population growth of about 1percent per year in the twentieth century. Use the Solow model to forecast the effect ofthis slowdown in population growth on the growth of total output and the growth ofoutput per person. Consider the effects both in the steady state and in the transition between steady states

Answers

Answer:

Check the explanation

Explanation:

  • The foremost thing is to first consider steady states. The Sluggish population growth rate swings in the line representing population growth and depreciation to the downward trend.
  • The new stable rate has a superior level of capital per worker thereby having a higher level of output per worker.
  • In Steady state, the entire output develops at rate n, whereas the output rate per worker grows at figure 0. Hence, slower population growth will hamper the figure of total output growth, but the rate of per-worker output growth will be the same.
  • Now reflect on the transition. We know that the constant-state level of output per worker is higher with little population growth. Hence, for the period of the transition to the new steady state, output per worker should grow at a rate faster than 0 for a sometime.

Assume the total cost of a college education will be $200,000 when your child enters college in 16 years. You presently have $73,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?

Answers

Answer:

6.5017%

Explanation:

Given that,

Total cost of a college education when your child enters college in 16 years, Future value = $200,000

Amount today to invest, present value = $73,000

Time period = 16 years

Therefore,

Annual rate of interest:

FV=PV(1+r)^(t)

200,000=73,000(1+r)^(16)

r =((200,000)/(73,000))^{(1)/(16)}-1

r = 6.5017%

Therefore, the annual rate of interest you must earn on your investment to cover the cost of your child’s college education is 6.5017%.

The first step in the project control process for measuring and evaluating project performance is to ch13 Select one: a. Determine the project objectives. b. Determine the project deliverables. c. Analyze the project budget. d. Set a baseline plan e. Review the project priority matrix.

Answers

Answer:

The correct answer is (D)

Explanation:

One of the most significant perspectives to be considered in connection is to frame a benchmark plan. Execution estimation and target-setting are essential to the development procedure, however a pattern plan is basic and is considered as an initial step. While numerous private companies can run themselves easily without target-setting, however every organisation must have a plan and a way to execute those plan.
Other Questions
A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of four years. The company uses straight-line depreciation. Calculate its book value at the end of year 3What is the Book Value?A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 8,000 hours in year 2, and 6,000 hours in year 3.Calculate its book value at the end of year 3.A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of four years. The company uses double-declining-balance depreciation.Calculate its book value at the end of year 3.
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)What is the optimal production quantity for the card?
The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2016 Cash and securities $2,145 Accounts receivable 8,970 Inventories 12,480 Total current assets $23,595 Net plant and equipment $15,405 Total assets $39,000 Liabilities and Equity Accounts payable $7,410 Accruals 4,290 Notes payable 5,460 Total current liabilities $17,160 Long-term bonds $7,800 Total liabilities $24,960 Common stock $5,460 Retained earnings 8,580 Total common equity $14,040 Total liabilities and equity $39,000 Income Statement (Millions of $) 2016 Net sales $58,500 Operating costs except depreciation 54,698 Depreciation 1,024 Earnings before interest and taxes (EBIT) $2,779 Less interest 829 Earnings before taxes (EBT) $1,950 Taxes 683 Net income $1,268 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $443.63 Int rate on notes payable & L-T bonds 6.25%Federal plus state income tax rate 35%Year-end stock price $23.77A. What is the firm's current ratio?B. What is the firm's quick ratio?C. What is the firm's days sales outstanding? Assume a 365-day year for this calculation.D. What is the firm's total assets turnover?E. What is the firm's inventory turnover ratio?F. What is the firm's TIE?G. What is the firm's debt/assets ratio?H. What is the firm's ROA?I. What is the firm's ROE?
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased $ 62 December 7 Delivery charge for shipping to customer $ 46 December 12 Purchase of office supplies $ 30 December 18 Donation to charitable organization $ 51 If, in addition to these receipts, the petty cash fund contains $201 of cash, the journal entry to reimburse the fund on December 31 will include: