Response: $11,200
Justification:
Utilizing the accounting equation:
(Total Assets) = (Total Liabilities) + (Total Capital)
Thus,
(Total Liabilities) = (Total Assets) - (Total Capital) (1)
To determine total liabilities, we first need to ascertain total assets and total capital.
At the end of the first year, the assets of Shapiro's consulting services are as follows:
Cash: $16,000
Office Supplies: $3,200
Equipment: $24,000
Accounts Receivable: $8,000
TOTAL ASSETS $51,200
Note that total assets are calculated by summing the values of each asset above.
Net income represents an increase (or decrease if it's a loss) in capital, thus we classify it as part of capital. Specifically, net income at the end of the first year adds to the initial capital.
The owner's withdrawal also decreases the capital.
Consequently, total capital at the end of the first year is computed as:
Capital (beginning of the year): $15,000
Net Income (end of year): $27,000
Withdrawal Amount: ($2,000)
TOTAL CAPITAL: $40,000
Note: The notation ($2,000) indicates a deduction of $2,000 in accounting terms.
Using (1), total liabilities at the end of the first year can be calculated as
(Total Liabilities) = (Total Assets) - (Total Capital)
= $51,200 - $40,000
Total Liabilities = $11,200
Answer:
The total required amount is $7,056.46
Explanation:
Given the following details:
You aim to accumulate enough savings to produce an annual cash flow of $55,000 for 25 years during retirement. How much should you save each year, assuming a return of 7.5 percent on your savings?
Final value = 55,000 * 25 = 1,375,000
Using the formula: FV = {A*[(1+i)^n-1]}/i
A represents the annual contribution.
To isolate A:
A = (FV*i)/{[(1+i)^n]-1}
A = (1,375,000*0.075)/[(1.075^38)-1]= $7,056.46
Answer:
Explanation:
(a). By plotting the data on an Excel spreadsheet, the uploaded image below represents our findings
(b) The sample correlation coefficient is calculated using the Excel Correlation function as follows;
Admission Rate (%) 4-Year Graduation Rate (%)
44 73
71 62
29 89
39 86
66 55
28 73
54 63
10 88
26 84
43 77
76 71
67 68
6 86
66 59
81 66
18 88
31 71
9 84
15 86
8 88
17 84
56 62
51 79
54 68
75 50
13 86
40 70
67 68
41 47
68 71
∴ The calculated value of the sample correlation coefficient is = -0.76
This indicates that the two variables exhibit a moderately linear inverse correlation.
Cheers, I hope this is useful.
Revealed by Explanation: The term "revealed by" applies in scenarios where the classification of derivatives for a new document is integrated and obtains the authorized source for classification into the new document while not being present in the original document. Therefore, the concept used to ascertain the classification of derivatives is revealed by this principle.
