Answer:
The answer is $138.92
Explanation:
Solution
Given that:
Daryl today's Age = 30
The Retirement Age = 64
The Total Monthly Deposits = ( 64 - 30 ) * 12 = 408
Now,
In case of 12% Compounded Monthly , Interest Rate per month = ( 12% / 12 ) = 1%
Then,
The Effective Interest Rate per year = ( 1 + 0.12/12 )12 - 1 = 1.1268 - 1 = 0.1268 = 12.68%
So,
The Present value of Annual 25 Years withdrawal of $100,000 at time of Retirement = $100,000 * PVAF ( 12.68% , 25 )
= $100,000 * 7.4864
= $748,642.20
The Present Value of Money for nephew at time of Retirement = $1,000,000 * PVF ( 12.68% , 25 )
= $1,000,000 * 0.050535
= $50,534.52
Now
The Present Value of total Amount Required at time of Retirement = $748,642.20 + $50,534.52
= $799,176.70
Now
The monthly deposit be X
Which is,
= X * FVAF ( 408 , 1% ) = $799,176.70
= X * 5752.85 = $799,176.70
X = $138.918
Therefore, Monthly Deposit for his retirement plan is = $138.92
Answer:
C- Should be corrected as soon as they are discovered
Explanation:
If error occur in recording process they should be corrected as soon as they are discovered although the errors are usually unintentional mistakes made when recording . Small recording errors might cause major distortions in the overall figures.
Although the suspense account is the main method used to detect errors that cause discrepancies between the debit and credit balances of the trial balance in which
Adjusting entries are posted in the general ledger to correct errors detected in the trial balance.
Answer: A) Give and explain counter-arguments against the arguments for each side.Note: the "counter-arguments" you are asked to give should oppose or answer the arguments on the other side as directly and convincingly as possible. They should not be simply unrelated arguments on the opposite side of the issue.
Explanation: When is talking about security is important to have different views, firstable you need to establish which are going to be your claims, premises or arguments, once you got it is important to search for information which can support your ideas, and once you have found it, counter-arguments are necessary to understand which are your weakest point, you need to know your counter-arguments and how people are likely to attack you, once you know the weak part of your speech you can defend it.
Answer:
An unrealized holding gain of $28 million in 2019.
Explanation:
At the financial year-end, the company have to reevaluate the investment to recognize the gain or loss.
If the fair value is higher than actual investment, the company gain and vice versa it lost.
In this scenario, the fair value adjustment = the valuation on 31st December – purchased value = $150 million - $132 million = $28 million.
Because this step is just an approach to record new valuation of investment, then it’s consider unrealized.
In short, Phillips Corporation should first update the fair value adjustment of $28 million on December 31 2021
The correct answer is information levels. It is because as
Ben works at the top accounting firm, he has responsibilities of developing the
individuals and departmental goals, and as well as generating financial
analysis by which these duties are likely to provide value add to their company
and it categorized as different information levels.
