What's the future value of $1,300 after 5 years if the appropriate interest rate is 6%, compounded monthly?
A. $1,385.27
B. $1,753.51
C. $1,841.18
D. $1,928.86
E. $1,683.36
Answer: B
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Smith Company records pre-tax book income of $500,000 after accruing $1,000,000 in warranty expense in its first year of operations. No warranty claims were paid in the first year. The tax rate is 30%.Suppose that prior to completing its first year's financial statements Smith determines it is unlikely to earn enough taxable income in future years to realize more than $250,000 of its deferred tax asset.Prepare an appropriate journal entry to recognize this information.
What will be an ideal response?
The following information relates to the Fowler Company for 2016: Sales discounts $ 700 Beginning accounts receivable 5,000 Collections on accounts receivable 20,000 Total sales reported on income statement 82,500 Ending accounts receivable 7,000 ? What was the amount of cash sales?
A) $61,200 B) $59,800 C) $63,800 D) $65,200
A ______ is an agreementbetween an ownerof property and another in whichthe owner of the property gives theother person the right to use theproperty for a set period of time
Fill in the blanks with correct word
Budgeted production needs are determined by:
A. adding budgeted sales in units to the desired ending inventory in units. B. adding budgeted sales in units to the beginning inventory in units and deducting the desired ending inventory in units from this total. C. adding budgeted sales in units to the desired ending inventory in units and deducting the beginning inventory in units from this total. D. deducting the beginning inventory in units from budgeted sales in units.