Prepare the following journal entry: A local college paid $13,800 by check for a future Bus Tour to Las Vegas for a conference next month.
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- Subject - account Please help me. Thankyou.Suppose someone wants to accumulate $55,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $60 per month into an account with an APR of 7%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. A. No, because the amount that will be in the college fund, $enter your response here, is less than the goal of $55,000. B. Yes, because the amount that will be in the college fund, $enter your response here, is more than the goal of $55,000.Suppose someone wants to accumulate $40,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $200 per month into an account with an APR of 8%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) OA. Yes, because the amount that will be in the college fund, S OB. No, because the amount that will be in the college fund, S is more than the goal of $40,000. is less than the goal of $40,000.
- A generous alum would like to establish an endowment that would sponsor a student organization's conferences in perpetuity. A one-time cost of $500,000 must be paid today to purchase supplies for the conference. The conference is held once every four years and costs $90,000 . The first conference will take place at the end of year 4 . The alum's gift is invested in an account that earns 4% annually. How much would the alum need to place in the endowment to be able to sponsor the student organization's conferences? [Enter your answer with no dollar sign or comma.]On January 1, you plan to take a trip around the world upon graduation four years from now. Yourgrandmother wants to deposit sufficient funds for this trip in an investment account for you. On thebasis of a budget, you estimate that the trip currently would cost $15,000. Being the generous andsweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of thenext four years, starting on December 31, 2015. The account will earn 6 percent annual interest,which will be added to the account at each year-end.Required (show computations and round to the nearest dollar):1. How much money will you have for the trip at the end of year 4 (i.e., after four deposits)?2. What is the total amount of interest earned over the four years?3. How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering?
- A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $16,300 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $32,000 per year for four years. What return is this investment offering?Craig has decided to start snow plowing during the winter months. He purchased a heavy-duty dump truck with plow and salter from Power Equipment for $40,000 on October 1st, 2026. He paid $1,000 as a down payment and the remaining balance on a 5% -7 year note to Power Equipment. You will be completing several accounting activities in regards to this purchase. What would the journal entry be for the check 1. Use the write check function in QB Online to record the entire purchase (down payment and capitalization of the truck and related liability). Use check number 171. Create accounts as needed in QB Online. You may find it helpful to write out the journal entry first before completing it in QB Online.On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip in an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2021. The account will earn 6 percent annual Interest, which will be added to the account at each year-end. (Future Value of $1. Present Value of $1. Future Value Annulty of $1. Present Value Annulty of $1, Financial Calculator) (Use tables, Excel, or a financial calculator.) Required: 1. How much money will you have for the trip at the end of year 4 (1.e., after four deposits)? 2. What is the total amount of Interest earned over the four years? 3. How much Interest revenue did the fund earn in each of the four years, starting in 2021? Complete this…
- You are a real estate agent thinking of placing a sign advertising your services at a local bus stop. Thesign will cost $4,300 and will be posted for one year. You expect that it will generate additionalrevenue of $817 a month. What is the payback period?Please help me do a general journal entry for this scenario: Scott Blout takes a year end distribution form the Business of $5,000.I just need to verify that these IRRs are correct.
