Waterway Industries will invest $26500 every January 1st for the next six years (2020-2025). If Waterway will earn 8% on the investment, what amount will be in the investment fund on December 31, 2025? A)209954 B)122506 C)194402 D)106370 Sheffield Corp. will invest $81000 every January 1st for the next six years (2020-2025). If Sheffield will earn 8% on the Investment, what amount will be in the Investment fund on December 31, 2025? A) 641747 B) 374454 C) 404412 D) 594211 Debra and Gary want to begin saving for their baby's college education. They estimate that they will need $140000 in eighteen years. If they are able to earn 4% per annum, how much must be deposited at the end of each of the next elghteen years to fund the education? A) 11059 B) 5908 C) 10659 D) 5459 Nancy wants to set aside funds to take an around the world cruise in four years. Assuming that Nancy has $21500 to invest today in an account expected to earn 4% per annum, how much will she have to spend on her vacation? A) 25152 B) 18376 C) 26158 D) 91299 Vaughn Manufacturing will receive $930000 in a future year. If the future receipt is discounted at an Interest rate of 8%, its present value is $542646. In how many years is the $930000 received? A) 9 Years B) 7 years C)_6 years D) 8 years Waterway Industries accepted a customer's $101100 zero-interest-bearing six-month note in a sales transaction. The product sold normally sells for $93000. If the sale was made on June 30, how much Interest revenue from this transaction would be recorded for the year ending December 317 A) 8100 B)4050 C)10110 DO Assume Marigold Corp., an equipment distributor, sells a plece of machinery with a list price of $905000 to Ivanhoe Co. Ivanhoe Co. will pay $985000 In one year. Marigold Corp. normally sells this type of equipment for 95% of list price. How much should be recorded as revenue? A)859750 B)985000 C)905000 D935750 Bonita Industries has outstanding accounts receivable totaling $1.27 million as of December 31 and sales on credit during the year of $6.46 million. There is also a debit balance of $5300 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? A)30700 B)25400 C)25294 D)20100 Vaughn Manufacturing made a $26200 sale on account with the following terms: 3/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue? A) 26986 B) 24628 C) 25414 D) 26200
