What was the account balance at the end of specific year

Assignment Help Accounting Basics
Reference no: EM13122534

Meg salon established a savings account for her son's college education by making annual deposits of $8,000 at the beginning of each of six years to a saivings account paying 8$. At the end of the sixth year, the account balance was transferred to a bank paying 10%, and annual deposits of $80,000 were made at the end of each year from the seventh through the tenth years. what was the account balance at the end of the tenth year?

Reference no: EM13122534

Questions Cloud

Illustrate what you learned about accounting practices : illustrate what you've learned about accounting practices and policies, how can you incorporate this type of analysis and awareness into your professional work in a way that enhances
Find the probability of three from town a and 2 from town b : At the first tri-city meeting, there were 8 people from town A, 7 people from town B, and 5 people from town C
Illustrate what is the difference between optimistic project : Illustrate what is the difference between optimistic projection and stretching the truth? Illustrate what kinds of checks and balances could you put into place to insure ethical behavior and accountability for both yourself and your employees?
Prepare in general journal form the workpaper entries : Prepare in general journal form the workpaper entries that would be made int he preparation of a consolidated statements workpaper.
What was the account balance at the end of specific year : At the end of the sixth year, the account balance was transferred to a bank paying 10%, and annual deposits of $80,000 were made at the end of each year from the seventh through the tenth years. what was the account balance at the end of the tenth..
Illustrate what is the amount of character of butte gain : Butte sold a machine to a machine dealer for $50,000. Butte bought the machine for $55,000 several years ago and has claimed $12,500 of depreciation expense on the machine. Illustrate what is the amount of character of Butte's gain or loss?
Effect on the tax basis of each partner partnership : orders stationery and other office supplies in the amount of $300. Before the partnership pays for the supplies but after the partnership has taken title and possession of the supplies, is there any effect on the tax basis of each partner's partne..
Original cost of the computer to stark : Assuming the computer has a ten-year life and will have no salvage value at the expiration of the lease, what was the original cost (present value) of the computer to Stark?
Illustrate what is the price of this stock today given : after which the company will keep a constant growth rate forever. Illustrate what is the price of this stock today given a required return of 12 percent?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd