Accounting

Question 14 Sharon Walsh has developed an educational software package. She agrees to sell the patent to Pensca for four annual payments of $50,000 each. The payments are to begin five years from today. Given an annual rate of 5%, what is the approximate present value of the four payments? Not yet answered Points out of 3.00 Select one: a. $145,863 b. $138,917 P Flag question @c. $281,420 d. $275,046 e. $289,310 Question 15 Not yet answered Points out of 3.00 Flag question On January 1, 2015, Oxford Company finished consultation services and accepted in exchange a promissory note with a face value of $500,000 and a due date of December 31, 2017. The stated rate of terest is 10% with interest receivable at the end of each year through 12/31/17 Assume an effective interest rate of 5% implicit in the agreed upon price. The effective amortization method is used Oxford's journal entry on 1/1/15 will record approximately what amount of service revenue? Select one: a $500,000 b. $450,000 5562,171 d. 5437,820 $568,081 Question 16 Not yet answered Points out of 3.00 On January 1, 2015, Oxford Company finished consultation services and accepted exchange a promissory note with a face value of $600.000 and a due date of December 31, 2017. The stated rate of interest is 5% with interest receivable at the End of each year through 12/31/17. Assume an effective interest rate of 10% is implicit in the agreed upon price. The effective amortization method is used Oxford's interest revenue to be reported on the 2015 Income statement is T Flag Gestion Select one: a $30,000 6. $60,000 c. $52,540 d. $164,003 .. $175,321