How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $4,800 per year for 7 years, with nothing left in the bank at the end of the 7 years? Select the amount below that is closest to your answer. (Ignore income taxes.) See separate Exhibit 13B-1 and Exhibit 13B-2 to determine the appropriate discount factor(s) using table.
A. $31,111
B. $2,798
C. $24,989
D. $33,600
Answer: C
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Blanton Corporation purchased 15% of the outstanding shares of common stock of Worton Corporation as a long-term investment. Subsequently, Worton Corporation reported net income and declared and paid cash dividends. What journal entry would Blanton Corporation use to record the dividends it receives?
a. debit Investment in Worton Corporation; credit Cash b. debit Cash; credit Dividend Revenue c. debit Investment in Worton Corporation; credit Income of Worton Corporation d. debit Cash; credit Investment in Worton Corporation
The silverback gorilla is considered by its family group as the one in charge because of his formal place in the family hierarchy. The group looks to him for guidance on eating and sleeping locations, when it is time to move, and to settle family disputes. The silverback can be described as having ______.
A. legitimate power B. referent power C. reward power D. personal power
Not all leadership communication takes place in person. How would the following media support or complicate each of the four leadership styles? Telephone:
E-mail: Twitter: Written memos: What will be an ideal response?
Adjusting entries are
A) the same as correcting entries B) needed to bring accounts up to date and match revenue and expense C) optional under generally accepted accounting principles D) rarely needed in large companies