Reference no: EM132488178
Question 1: On August 1, Year 1, Jackson Company issued a one-year $78,000 face value interest-bearing note with a stated interest rate of 9.00% to Galaxy Bank. Jackson accrues interest expense on December 31, Year 1, its calendar year-end.
What is the cash flow from financing activities that will be reported during the year ending December 31, Year 1?
Question 2: To determine the appropriate discount factor(s). Alternatively, if you calculate the discount factor(s) using a formula, round to six (6) decimal places before using the factor in the problem. (Round your answers to the nearest whole dollar amount.)
Point a. The future value of $24,000 invested at 7 percent for 5 years.
Point b. The future value of eight annual payments of $1,050 at 5 percent interest.
Point c. The amount that must be deposited today (present value) at 5 percent to accumulate $67,000 in five years.
Point d. The annual payment on a 10-year, 6 percent, $53,000 note payable.