What will be the balance on september 1 2010 in a fund

Assignment Help Accounting Basics
Reference no: EM13481463

Use the following 8% interest factors for questions 39 through 40:

                    Present Value of Ordinary Annuity        Future Value of Ordinary Annuity

7 periods                     5.2064                                                8.92280

8 periods                     5.7466                                               10.63663

9 periods                     6.2469                                               12.48756

1. What will be the balance on September 1, 2010 in a fund which is accumulated by making $24,000 annual deposits each September 1beginning in 2003, with the last deposit being made on September 1,2010? The fund pays interest at 8% compounded annually.

a. $255,279

b. $214,148

c. $181,440

d. $137,918

2. What amount should be recorded as the cost of a machine purchased December 31, 2006, which is to be financed by making 8 annual payments of $8,000 each beginning December 31,2007? The applicable interest rate is 8%.

a. $56,000

b. $49,975

c. $85,093

d. $45,973

Reference no: EM13481463

Questions Cloud

Calculate the production cost per unit for each of landons : company makes two models of childrens playhouses the castle and the mansion.basic production information
Superior door company sells pre-hung doors to home builders : superior door company sells pre-hung doors to home builders. the doors are sold for 60 each. variable costs are 42 per
Suppose the adjustments were not made compute the overall : an accountant made the following adjustments at december 31 the end of the accounting perioda. prepaid insurance
In 1970 mr and mrs self purchased their first principal : in 1970 mr. and mrs. self purchased their first principal residence for 80000. in 1995 they sold the house for 300000
What will be the balance on september 1 2010 in a fund : use the following 8 interest factors for questions 39 through
When the liquidation commenced expenses of 20000 were : the partnership of marks norris smith and savannah has now operated for several years.nbspnbspnbsplast year marks and
How might that business be operated under each of the two : generally companies follow one of two broadstrategies offering a quality product at a lowprice or offering a unique
Trout company is considering introducing a new line of : trout company is considering introducing a new line of pagers targeting the preteen population. trout believes that if
There were no actuarial gains or losses at january 1 2013 : the following information for cooper enterprises is given below december 31 2013assets and obligations plan assets at

Reviews

Write a Review

Accounting Basics Questions & Answers

  From the e-activity take two positions and describe how the

from the e-activity take two positions and explain how the trade agreement both helps and hurts the u.s.

  Capital investment analysis

Parsing Electronics is interested in expanding its operations with a new manufacturing facility in Slovakia. The company prepares a capital investment analysis on the validity of the project and finds that the project is viable. The company expect..

  During the second year xtreme sports paid cash dividends of

xtreme sports has 100000 of 8 noncumulative nonparticipating preferred stock outstanding. xtreme sports also has 500000

  Yummy-pop ltd

Yummy-Pop Ltd makes lollipops in two sizes, large and giant. The company sells these lollipops to convenience stores, fairs, schools for fundraisers, and in bulk on the Internet.

  The first step in creating the master budget is the sales

the first step in creating the master budget is the sales budget. describe this budget and the information it includes.

  Exchange rate or spot rate under temporal method

What is the basis for deciding whether to use the spot rate or some other exchange rate when converting a foreign subsidiary's trial balance accounts into U.S. dollars under the temporal method?

  Effects on the accounts and finanical statements

On February 10, Peerless Rocks Inc., a marble contractor, issued for cash 40000 shares of $10 par common stock at $34, and on May 9, it issued for cash 100000 shares of $5 par preffered stock at $7. a. Illustrate the effects on the accounts and fi..

  Prepare a three-column comparative income statement

A new retail store has offered to buy 8,300 of its skateboards for $59 per unit. The store is in a different market from Calla's regular customers and it would not affect regular sales. A study of its costs in anticipation of this additional busin..

  Accounting equation for vajen

Vajen Company issued 5,000 shares of $1 par common stock for $30 per share, providing the company with $150,000 in cash. What effect, in addition to the increase in cash, does this transaction have on the accounting equation for Vajen?

  Materials costs and conversion costs problem

Materials costs of $200,000 and conversion costs of $214,200 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the proce..

  What are the requirements for an involuntary petition

A bankruptcy case may begin with either a voluntary or an involuntary petition. What is the difference? What are the requirements for an involuntary petition?

  Make a correlation table for the variables in our employee

1. create a correlation table for the variables in our employee salary data set. use analysis toolpak or statplusmac le

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd