Answer:
Total amount= $600,000
Explanation:
Giving the following information:
Suppose that you start working for a company at age 25.
<u>Option 1:</u>
$20,000 for each year of work.
Number of years of service= 55 - 25= 30 years
<u>Now, the total retirement plan:</u>
Total amount= 30*20,000= $600,000
Answer:
$8,000
Explanation:
Given the following:
Interest rate on notes receivable = 8%
Original principal balance = $150,000
Amount due by July 1 = $50,000
Therefore, in the June 30, 20X4 balance sheet, the original principal balance that has been outstanding will be :
$150,000 - $50000 = $100,000
Therefore, only $100,000 has been outstanding and is due for calculation in the interest on accounts receivable on June 30.
Interest rate * principal balance due at the date
8% * $100,000
0.08 * $100,000
= $8,000
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Budgeted Sales (at retail):
January $300,000*0.60= 180,000
February $340,000*0.6= 204,000
March $400,000*0.6= 240,000
April $350,000
Cost of goods sold as a percentage of sales 60%
Desired ending inventory 75% of next month sales
April:
Purchase from March= (240,000*0.25) + (350,000*0.60*0.75)=60,000 + 157,500= $217,500
Answer: $125,800
Explanation:
Telly would receive the full amount from the Blue Mutual Fund because he is transferring from one IRA to another.
Taxpayers are allowed to transfer or perform a distribution rollover once a year and this is what he is taking advantage of. No amount will be withheld as well should this be the case.
