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Questions -
a) James wants to buy a car in 5 years. The car is expected to cost $30,000 at that time. How much money would James need to put as a single lump-sum amount today in a savings account earning 4% per year in order to accumulate that $30,000 in five years?
b) John wants to buy a car in 5 years. The cost of the car is $30,000 at that time. How much must John save each year in a saving account earning 4% per year to accumulate $30,000 in five years?
c) Jim invests $15,000 today into an account, If the amount in the account accumulates to $17,364.37 at the end of 3 years, what was the interest rate that Jim earned on the account?
d) Bobbi opens an IRA account in which she deposits $3,000 per year until she retires in 50 years. If Bobbi earns 12% per year on that account, how much will she have accumulated at the end of the 50 years?
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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