What is the future value of a series of $500 annual payments received at the end of each of the next 5 years' worth if they are invested at an annual rate of return of 6%?
A) $1,223.44
B) $2,176.65
C) $2,818.50
D) $3,309.76
Answer: C
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What are the effects on the accounting equation from the purchase of a short-term investment?
a. Assets and stockholders' equity decrease. b. No effects—assets increase and decrease by the same amount. c. Assets and liabilities decrease. d. Stockholders' equity decreases and liabilities increase.
Andy and Ian formed a partnership on April 1, 2019. Andy contributes equipment to the business that originally cost $82,000 and on which accumulated depreciation of $16,000 has been recorded. The current market value of the equipment is $74,000. The value of the equipment recorded in the partnership journal is ________.
A) $66,000 B) $74,000 C) $58,000 D) $82,000
Few actual production processes fit the definitions of job order costing or process costing exactly
Indicate whether the statement is true or false
Bixby offered a reward of $50 in the local newspaper for the return of his lost college ring. Harris, not knowing of the published reward, found and returned the ring. Harris could not legally claim the reward because
a. the offer was not definite. b. the offer was not communicated to him. c. the offer was not intended to be an enforceable obligation. d. an offer of a reward is not binding.