Reference no: EM131262327
A bank account earns 0.06% per year compounded bimonthly. An initial deposit of $80,000 is made with consecutive payments of $1,000 every 3 months for 10 years. Semiannual withdrawals of $3,000 are planned to occur beginning in years 3 to 10. Additionally, monthly expenditures are going to be made from year 4 to year 8 accounting for $100 increasing to $110, $120 and so on. And for business reasons, a single payment is expected into the account during July 5 years from now of $100,000. What is the future worth of the bank account in year 10? A friend of yours is offering to give you $210,000 right now to take control ownership of your account. Should you sell? Yes of no? Why?
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What are current assets-long term nvestments-net property
: The following information is taken from the records of ROK Corporation at December 31, 2010: What are current assets, long term nvestments, Net property, plant, and equpment, intangible assets, current liabilities, long term liabilities, stockholders..
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Manufactures sun protection lotion
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Variety of musical instruments-sound reproduction equipment
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Cost of ending work in process under weighted average method
: Ralph Inc. manufactures a product that passes through two processes: Mixing and Packaging. All manufacturing costs are added uniformly in the Mixing Department (i.e., same completion percentage applied to direct materials and conversion costs). Dete..
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What is the future worth of the bank account in year
: A bank account earns 0.06% per year compounded bimonthly. An initial deposit of $80,000 is made with consecutive payments of $1,000 every 3 months for 10 years. Semiannual withdrawals of $3,000 are planned to occur beginning in years 3 to 10. What is..
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Prepare the stockholders equity section of balance sheet
: Pringle Corporation has been authorized to issue 21,000 shares of $100 par value, 7%, noncumulative preferred stock and 1,071,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. Prepare the stockholders’..
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Prepare the stockholders equity section of balance sheet
: Pringle Corporation has been authorized to issue 21,000 shares of $100 par value, 7%, noncumulative preferred stock and 1,071,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. Prepare the stockholders’..
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General ledger shows checking account balance
: On October 31, 2018, Damon Company’s general ledger shows a checking account balance of $8,418. The company’s cash receipts for the month total $74,460, of which $71,330 has been deposited in the bank. In addition, the company has written checks for ..
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Prepare all journal entries necessary to reflect transaction
: The balance sheet of Bonita Company at December 31, 2016, includes the following. Notes receivable $36,200 Accounts receivable 195,800 Less: Allowance for doubtful accounts 20,700 $211,300 Transactions in 2017 include the following. Accounts receivab..
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