FINANCIAL ACCT-CONNECT
FINANCIAL ACCT-CONNECT
8th Edition
ISBN: 9781266627903
Author: Wild
Publisher: INTER MCG
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Chapter B, Problem 3QS
Summary Introduction

Concept Introduction:

Future value is the value of present money after a period of time. Future value of present money is calculated using the interest rate and period. The present value of a sum is multiplied with the future value factor to get the future value.

To calculate: the number of year for the given investment.

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Ayayai Corp. employs a five-day workweek Monday - Friday and a September 30 year-end. Normal weekly wages amount to $32900. If September 30 is a Wednesday, what is the appropriate journal entry on October 2, the next payday for Ayayai? A. Salaries and Wages Expense 19740 Salaries and Wages Payable 13160 Cash 32900 B. Salaries and Wages Payable 13160 Cash 13160 C. Salaries and Wages Expense 19740 Cash 19740 D. Salaries and Wages Expense 13160 Salaries and Wages Payable 19740 Cash 32900
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