Red Wings Inc. maintains accounting records on a cash basis. The following information is provided for 2018: Decrease in Wages Payable from 1/1 to 12/31 Cash Collected from Customers 1/1 Accounts Receivable 12/31 Accounts Payable Cash paid to vendors 1/1 Accounts Payable 12/31 Accounts Receivable 1/1 Prepaid Expenses Cash Paid for Expenses 12/31 Prepaid Expenses Decrease in Inventory from 1/1 to 12/31 4 100 5 2 60 5 8 30 1 Accrual-basis Expenses for 2018 are: Select one: a. $31 O b. $39 OC. $29 O d. $21 Black Hawks Inc. maintains accounting records on a cash basis. The following information is provided for 2018 4 100 son Decrease in Wages Payable from 1/1 to 12/31 Cash Collected from Customers 12/31 Accounts Receivable 12/31 Accounts Payable Cash paid to vendors 1/1 Accounts Payable 1/1 Accounts Receivable 12/31 Prepaid Expenses Cash Paid for Expenses 1/1 Prepaid Expenses Increase in Inventory from 1/1 to 12/31 2 60 5 8 7 30 2 1 Cost of Goods Sold for 2018 is: Select one: a. 561 b. 563 558 d. 557 e. 556 North Star Inc. maintains accounting records on a cash basis. The following information is provided for 2018: Decrease in Wages Payable from 1/1 to 12/31 Cash Collected from Customers 12/31 Accounts Receivable 12/31 Accounts Payable Cash paid to vendors 1/1 Accounts Payable 1/1 Accounts Receivable 12/31 Prepaid Expenses Cash Paid for Expenses 1/1 Prepaid Expenses Increase in Inventory from 1/1 to 12/31 4 100 5 2. 60 5 8 30 Accrual basis Sales for 2018 is: Select one: O a $103 O b. 597 O c 5105 O d. 5108 O e. 5100 all mindenre entered in Unearned Revenue. During Hyde Park Company purchases a machine and agrees to pay five $1,000 annual installments beginning on the purchase date. The computation to determine the true cost of the machine is based on the of estion Select one: a. Future Value of Annuity b. Present Value of Annuity c Future Value of Annuity Due d. Present Value of Annuity Due 0 Janice invests $100,000 in a savings account on 1/1/15. The account pays 5% annual interest through 12/31/18, and 10% thereafter. What is the approximate bank balance on 12/31/20? Select one: O a. 5147,077 b. $177,150 C5154,081 d. $205,081 e. $140,073