11400Beg future dollars will have the same buying power as $24,000 today at interest rates of 5% per year.
The annum interest rate refers to the hobby price over a duration of 12 months with the assumption that the hobby is compounded every 12 months. an annual hobby is commonly at a better rate because of compounding. rather than paying out month-to-month, the sum invested has 12 months of growth. but if you are capable of getting the same fee of interest for monthly payments.
The beginning balances should be entered in the general ledger as of April 30, 2017, as
follows:
Beg. Bal
Supplies
(Beg. Bal 500]
Equipment,
[Beg.Bal___ 24000]
‘Accounts Payable
72100 Beg. Bal
Notes Payable
110000 Beg. Bal
neared Service Revenue
1000 Beg. Bal
Common Stock
‘5000 Beg. Bal
Retained Earnings
11400 Beg. Bal
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