Question
If on January 1, 2017, a company commits to deposit $12,000 annually starting at the end of December 2017 and it earns 8%, what will
If on January 1, 2017, a company commits to deposit $12,000 annually starting at the end of December 2017 and it earns 8%, what will the balance be on December 31, 2024? Please select the appropriate factor(s) from the following to calculate your response: 7 periods 8 periods 9 periods $107,075 $115,640 $127,640 $137,851 Present Value of Future Value of Ordinary Annuity @ 8% Ordinary Annuity @ 8% 5.2064 8.92280 5.7466 6.2469 10.63663 12.48756 QUESTION 21 On December 30, 2017, AGH, Inc. purchased a machine from Grant Corp. in exchange for a zero-interest-bearing note requiring eight payments of $150,000. The first payment was made on December 30, 2017, and the others are due annually on December 30. At the date of issuance, the prevailing rate of interest for this type of note was 11%. Please select the appropriate factor(s) from the following to calculate your response: Present Value of Ordinary Period Annuity of 1 at 11% 7 8 4.712 5.146 Present Value of Annuity Due of 1 at 11% 5.231 5.712 On AGH's December 31, 2017 balance sheet, the net note payable to Grant is $706,800. $771,900. $785,325. $856,800. QUESTION 22 Consider the following: Cash in Bank - checking account of $18,500, Petty Cash on hand of $500, Post-dated checks received totaling $3,500, and 180-day certificates of deposit totaling $124,000. How much should be reported as cash in the balance sheet? O $18,500. $ 19,000. $ 22,500. $136,500
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