Answer: $0
Explanation:
Forward contracts get their value from the cost and on December 1, there was no cost to Curtis as he Curtis had just signed the contract.
This means that the amount that should be recorded for the Forward Contract should be $0. Even though the contract is valued at $0, it will still need to be credited against the amount to be received to at least recognize that a forward contract was entered into.
Answer: Blast would debit the product warranty expense with $3,250
Explanation: The cost of repair under warranty is 10% of salea price. The sales price per unit is $50 of which 650 CDs were sold.
Therefore the product warranty expense will be (10% * ($50 * 650 CDs)) = $3,250.
Answer:
Explanation:
the file attached shows the appropriate calculation
Answer:
The Final Value is $40,305.56
Explanation:
Giving the following information:
Gerry deposits $1,500 at the end of each quarter for five years.
Interest rate= 12% quarterly compounding
To calculate the final value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit= 1,500
i= 0.12/4= 0.03
n= 5*4= 20
FV= {1,500*[(1.03^20)-1]} / 0.03
FV= $40,305.56
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