Old MathJax webview

Old MathJax webview

Old MathJax webview

number 4

4. Joanne wants to invest in an account that compounds semiannually. She would like the account to have a balance of $50,000 five years from now. How much must Joanne deposit to accomplish her goal? (Use the appropriate time value money table in your text.) A. $35,069 B. $43,131. C. $37,205. D. $35,000 CONTINUED ON THE BACK OF THIS PAGE 3. (CPA, adapted) Based on an aging of the receivables, Delta Co, determined that its expected future collections as of December 31, year I was $650,000. Additional information is as follows: $ 60,000 Allowance for uncollectible accounts, 1/1/year 1 Uncollectible accounts written off during year 1 36,000 Uncollectible accounts recovered during year 1 4,000 Accounts receivable at 12/31/yearl 700,000 What is Delta's bad debt expense for year 1? A. $10,000 B. $22,000 C. $30,000 D. $42,000 4. Joanne wants to invest in an account that compounds semiannually. She would like the account to have a balance of $50,000 five years from now. How much must Joanne deposit to accomplish her goal? (Use the appropriate time value money table in your text.) A. $35,069. B. $43,131. C. $37,205. D. $35,000 CONTINUED ON THE BACK OF THIS PAGE (CPA, adapted) On December 30, 20X1, Alpha Co. sold a machine to Omega Co. in exchange for a noninterest-bearing note requiring ten annual payments of $10,000. Omega made the first payment on December 30, 20X1. The market interest rate for similar notes at date of issuance was 8%. Information on present value factors is as follows: Number of Periods PV of $1 at 8% PV of Ordinary Annuity of $1 at 8% 9 0.50 6.25 10 0.46 6.71 In Alpha's December 31, 20X1 balance sheet, what is the carrying value of the note receivable? A. $67,100 B. $62,500 C. $46,000 D. $45,000 4. Joanne wants to invest in an account that compounds semiannually. She would like the account to have a balance of $50,000 five years from now. How much must Joanne deposit to accomplish her goal? (Use the appropriate time value money table in your text.) A. $35,069 B. $43,131. C. $37,205. D. $35,000 CONTINUED ON THE BACK OF THIS PAGE 3. (CPA, adapted) Based on an aging of the receivables, Delta Co, determined that its expected future collections as of December 31, year I was $650,000. Additional information is as follows: $ 60,000 Allowance for uncollectible accounts, 1/1/year 1 Uncollectible accounts written off during year 1 36,000 Uncollectible accounts recovered during year 1 4,000 Accounts receivable at 12/31/yearl 700,000 What is Delta's bad debt expense for year 1? A. $10,000 B. $22,000 C. $30,000 D. $42,000 4. Joanne wants to invest in an account that compounds semiannually. She would like the account to have a balance of $50,000 five years from now. How much must Joanne deposit to accomplish her goal? (Use the appropriate time value money table in your text.) A. $35,069. B. $43,131. C. $37,205. D. $35,000 CONTINUED ON THE BACK OF THIS PAGE (CPA, adapted) On December 30, 20X1, Alpha Co. sold a machine to Omega Co. in exchange for a noninterest-bearing note requiring ten annual payments of $10,000. Omega made the first payment on December 30, 20X1. The market interest rate for similar notes at date of issuance was 8%. Information on present value factors is as follows: Number of Periods PV of $1 at 8% PV of Ordinary Annuity of $1 at 8% 9 0.50 6.25 10 0.46 6.71 In Alpha's December 31, 20X1 balance sheet, what is the carrying value of the note receivable? A. $67,100 B. $62,500 C. $46,000 D. $45,000