1. A company borrowed cash from the bank by signing a 6-year, 8% installment note. The present value for an annuity (series of payments) at 8% for 6 years is 4.6229. The present value of 1 (single sum) at 8% for 6 years is .6302. Each annual payment equals $75,100. The present value of the note is:

A.48,735.64 B.16,245.21 C.119,168..52 D. 450,600 E. 347,179.79

2. Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $303,000, and Atkins's beginning partnership capital balance for the current year is $317,000. The partnership had net income of $328,000 for the year. Barber withdrew $99,000 during the year and Atkins withdrew $28,000. What is Barber's ending equity?

A. 631,000 B. 532,000 C. 382,000 D. 467,000 E. 368,000

3. A company must repay the bank a single payment of $30,000 cash in 6 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value of 1 (single sum) at 8% for 6 years is .6302. The present value of an annuity (series of payments) at 8% for 6 years is 4.6229. The present value of the loan (rounded) is:

A. 30,000 B. 18,906 C. 23,829 D. 138,678 E. 6,489

4. Marlow Company purchased a point of sale system on January 1 for $6,000. This system has a useful life of 10 years and a salvage value of $700. What would be the depreciation expense for the second year of its useful life using the double-declining-balance method?

A. 530 B. 960 C. 1060 D. 896 E. 1200

5. Marwick Corporation issues 10%, 5 year bonds with a par value of $1,140,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%. What is the bond's issue (selling) price, assuming the following Present Value factors:

1n=			i=			Present Value of an Annuity (series of payments)				Present value of 1 (single sum)
	5		10	%			3.7908				0.6209
	10		5	%			7.7217				0.6139
	5		8	%			3.9927				0.6806
	10		4	%			8.1109				0.6756

A. 1,140,000 B. 677,679 C. 1,602,321 D. 1,232,505 E. 929,244