<span>This is incorrect. Henry is actually demonstrating fine motor skills. Gross motor skills are those skills that pertain to large movements like walking, balance, jumping, etc. Fine motor skills are those that pertain to fine manipulation like writing, picking up small objects (like the cheerrios), or tying a knot.</span>
Answer:
FV= $1,260,205.98
Explanation:
Giving the following information:
Annual deposit= $5,250
Number of years= 35 years
Annual interest rate= 0.0947
To calculate the final value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {5,250*[(1.0947^35)-1] / 0.0947
FV= $1,260,205.98
<span>keep it small, especially in the beginning
Small businesses die when you expand too quickly in the beginning</span>
Using the formula to calculate the total cost:
Cost = (85% x 3 million) + (60% x 3 million) + (20% x 3 million)
Cost = (0.85 x 3 million) + (0.60 x 3 million) + (0.20 x 3 million)
<span>Cost = (2.55 million) + (1.8 million) + (0.6 million)
Cost = 4.95 millions.</span>
Answer:
a) I used an excel spreadsheet to record the T-accounts
the closing entries would be:
Dr Sales revenue 12,100
Dr Purchase discounts 48
Dr Interest revenue 600
Dr Gain on sale of land 1,500
Cr Income summary 14,248
Dr Income summary 8,512
Cr Cost of goods sold 6,450
Cr Sales returns 1,680
Cr Sales discounts 242
Cr Distribution costs 140
Dr Income summary 5,736
Cr Retained earnings 5,736
b) Redd Company
Income Statement
For the year ended December 31, Year 2
Revenues:
- Sales revenues $12,100
- Sales returns ($1,680)
- Sales discounts ($242) $10,178
Cost of goods sold <u>($6,450)</u>
Gross profit $3,728
Expenses:
- Distribution costs ($140) <u>($140)</u>
Operating income $3,588
Other sources of income:
- Gain on sale of land $1,500
- Interest revenue $600 <u>$2,100</u>
Net income before taxes $5,688
Explanation:
