ew
.docx
keyboard_arrow_up
School
Monash University *
*We aren’t endorsed by this school
Course
2090
Subject
Finance
Date
Apr 3, 2024
Type
docx
Pages
18
Uploaded by DoctorRaccoonPerson1034
Financial Math Practice Solutions for Weekly Topic 2, 3,4 &5 The following questions have been divided into Fundamental, Intermediate and Short-answer questions
For the fundamental level questions, you should be able to attempt them on your own after your pre–class reading.
The intermediate level questions are those that you should be able to attempt after your weekly tutorial session.
Short-answer questions are slightly more challenging which assess your ability of applying the learned knowledge to solve questions that are more comprehensive. kjhniohopjp
Fundamental Level 1.
During the period 1990 to 2014, the average yield on 3-month U.S. Treasury bills was 3.04%, the average inflation rate was 2.64%, the average yield on 30-year Treasury bonds was 5.49%, and the average return on 30-year Aaa-rated corporate bonds was 6.35%. The real risk-free short-term interest rate is A) 0.40%.
B) 2.13%.
C) 2.97%.
D) 4.76%.
2.
You are considering an investment in a AAA-rated U.S. corporate bond but you are not sure what rate of interest it should pay. Assume that the risk-free rate of interest is 2.5%; inflation is expected to be 1.5%; the maturity risk premium is 2.5%; and, the default risk premium for AAA rated corporate bonds is 3.5%. What rate of interest should the U.S. corporate bond pay? A) 8.5%
B) 6.0%
C) 5.0%
D)9%
3.
You are considering an investment in a U.S. Treasury bond but you are not sure what rate of interest it should pay. Assume that the real risk-free rate of interest is 1.0%; inflation is expected to be 1.5%; the maturity risk premium is 2.5%; and, the default risk premium for AAA rated corporate bonds is 3.5%. What rate of interest should the U.S. Treasury bond pay?
A) 8.5%
B) 6.0%
C) 5.0%
D) 2.5%
4.
You discover an antique in your attic that you purchased at an estate sale 10 years ago for $400. You auction it on eBay and receive $8,000 for your item. What annual rate of return did you earn?
A.
20.00%
B.
30.47%
C.
34.93%
D.
200.00%
5.
wen expects to receive $20,000 at the beginning of next year from a trust fund. If a bank loans money at an interest rate of 7.5%, how much money can he borrow from the bank based on this information?
1
A.
$15,000
B.
$21,500
C.
$11,428
D.
$18,605
6.
You are scheduled to receive $10,000 in one year. An increase in the interest rate will have what effect on the present value of this cash flow?
A.
It will have no effect on the present value.
B.
It will cause the present value to fall.
C.
It will cause the present value to rise.
D.
The effect cannot be determined with the information provided.
1.
7.
Sara wants to have $500,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 8%, to ensure that she has $500,000 in 20 years' time?
A.
$180,884
B.
$107,274
C.
$144,616
D.
$231,480
8.
If you only earned interest on your initial investment, and not on previously earned interest, it would be called simple interest.
A.
True
B.
False
9.
Which of the following investments has the highest effective annual return (EAR)? (Assume that all CDs are of equal risk.)
A.
a bank CD that pays 7.25 percent compounded semiannually
B.
a bank CD that pays 7.00 percent interest compounded daily
C.
a bank CD that pays 7.30 percent annually
D.
a bank CD that pays 7.10 percent compounded monthly
10.
You believe in the power of compounding and decide to save $1 per day by avoiding the purchase
of a soda. You deposit the $1 at the end of each day in a bank account that pays 8% interest compounded daily. You are going to take a trip in 20 years with the money you have accumulated. How much money will you have in 20 years, assuming 365 days per year?
A.
$7,500 B.
$12,438 C.
$22,456
D.
$18,032
11.
A lender lends $10,000, which is to be repaid in annual payments of $2000 for 6 years. Which of the following shows the timeline of the loan from the lender's perspective?
A.
2
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
$0
$2000
$2000
$2000
$2000
$2000
B.
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
-$10,000
$2000
$2000
$2000
$2000
$2000
C.
Year 0
Year l
Year 2
Year 3
Year 4
Year 5
Year 6
-$10,000
$2000
$4000
$6000
$8000
$10,000
$12,000
D.
Year 0
Year l
Year 2
Year 3
Year 4
Year 5
Year 6
-$10,000
$2000
$2000
$2000
$2000
$2000
$2000
12.
A tenant wants to lease a building for $48,000 per year. She signs a five-year rental agreement that states that she will pay $24,000 every six months for the next five years. Which of the following is the timeline for her rental payments, assuming she makes the first payment immediately?
A.
Year
0
1/2
1
1
1
2
2
2
1
2
3
3
1
2
4
4
1
2
5
CF ($000
)
-24
-24
-24
-24
-24
-24
-24
-24
-24
-24
0
B.
Year
0
1/2
1
1
1
2
2
2
1
2
3
3
1
2
4
4
1
2
5
CF ($000
)
24
24
24
24
24
24
24
24
24
24
24
C.
Year
0
1
2
3
4
5
CF
($000)
48
48
48
48
48
48
D.
Year
0
1
2
3
4
5
CF
($000)
-48
-48
-48
-48
-48
-48
Topic 4
13.
Samantha enters a rent-to-own agreement for living room furniture. She will pay $60 per
month for one year. Which of the following shows the timeline for her payments if the 3
first payment is one month from now?
A.
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
CFs ($)
0
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
B.
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
CFs($
)
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
-60
C.
Month
0
1
2
3
4
5
6
7
8
9
10
11
12
CFs ($)
-60
-
120
-180
-240
-
300
-360
-480
-
540
-
600
-
660
-720
-780
-
840
D.
Month
1
2
3
4
5
6
7
8
9
10
11
12
CFs
-
$60
-
$60
-
$60
-
$60
-
$60
-
$60
-
$60
-
$60
-
$60
-$60
-$60
-
$60
Topics 3 & 4
14.
The timeline shown below best describes the cash flow of which of the following people?
Date (years)
0
1
2
3
4
Cash Flows
-$3500
$1000
$1000
$1000
$1000
A.
Karen, who loans a friend $3500, and whose friend pays back the loan in four annual instalments of $1000
B.
Joe, who puts down $3500 to buy a car, and then makes annual payments of $1000
C.
Harry, who borrows $3500, and then receives an annual payment of $1000
D.
Leo, who borrows $3500, and then pays back the loan in four annual payments of $1000
15.
A homeowner in Queensland has the opportunity to install a solar water heater in his home for a cost of $2400. After installation, the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. How much must the homeowner save on water heating costs every year if this is to be a sound investment? (The interest rate is 9% per year.
A.
$216
B.
$248
C.
$240
D.
$262
16.
You are saving money to buy a car. If you save $300 per month starting one month from now at an interest rate of 4%, how much will you be able to spend on the car after saving
for 4 years?
A.
$41,778.96
4
B.
$15,287.27
C.
$13,286.65
D.
$15,587.88
17.
You are borrowing money to buy a car. If you can make payments of $300 per month starting
one month from now at an interest rate of 4%, how much will you be able to borrow for the car today if you finance the amount over four years?
A.
$15,587.88
B.
$6,358.54
C.
$13,067.62
D.
$13,286.65
Topic 4
18.
Dan buys a property for $250,000. He is offered a 20-year loan by the bank, at an interest rate of 6%
per year. What is the annual loan payment Dan must make?
A.
$21,796.14
B.
$32,684.66
C.
$64,486.34
D.
$24,864.98
19.
What is the present value of an annuity of $4,000 received at the beginning of each year for the next eight years? The first payment will be received today, and the discount rate is 9% (round to the nearest $1).
A.
$24,132
B.
$25,699
C.
$35,712
D.
$36,288
20.
Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 per cent interest per year, how many loan payments must the company make?
A.
12
B.
19
C.
13
D.
15
21.
You are interested in purchasing a new car that costs $35,000. The dealership offers you a special financing rate of 6% APR (0.5% per month) for 48 months. Assuming that you do not make a down payment on the car and you take the dealer's financing deal then your monthly car payments would be closest to the following:
A.
$822
B.
$647
C.
842
5
D.
$729
22.
A rich donor gives a hospital $100,000 one year from today. Each year after that, the hospital will receive a payment 5% larger than the previous payment with the last payment occurring in ten years' time. What is the present value (PV) of this donation, given that the interest rate is 9%? A) $585,987.27
B) $467,922.22
C) $779,843.27
D) $772,173.49 23.
The required rate of return reflects the costs of funds needed to finance a project.
A.
True B.
False
24.
The cash flows for four projects are shown below, along with the cost of capital for these
projects. If these projects are mutually exclusive, which one should be taken?
A.
Yea
r
0
1
2
3
4
5
CF
-
20,000
$6000
$6000
$6000
$6000
$6000
WACC
8%
B.
Yea
r
0
1
2
3
4
5
CF
-15,000
$4000
$4000
$4000
$4000
$4000
WACC
7%
C.
Yea
r
0
1
2
3
4
5
CF
-18,000
$5000
$5000
$5000
$5000
$5000
WACC
7.5%
D.
Year
0
1
2
3
4
5
CF
-12,000
$4000
$4000
$4000
$4000
$4000
WACC
5%
25.
An investor has the opportunity to invest in four new retail stores. The amount that can be invested in each store, along with the expected cash flow at the end of the first year, the growth rate of the concern, and the cost of capital, are shown for each case. It is 6
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Additionally, regarding the project, please do not assume that the reader is familiar with the subject areas that you are writing about. Therefore, definitions, assumptions, facts, and analyses are required in this assignment.
Further, there are four questions that are being asked. Three questions need supporting calculations to validate your answers. Please help me by showing the calculations and assumptions in each of the answers, otherwise I will receive an 0. Kindly show your calculations. Also, a review of Learning Objective 4 in chapter 21 would be a good place to start with this assignment (Lease Capitalization, Bargain purchase Option.) Below are the questions for your convenience.
What ethical issue is at stake?
Should the controller's argument be accepted if she does not really know much about copier technology? Would it make a difference if the controller were knowledgeable about the rate of change in copier technology?
What should Suffolk do?
arrow_forward
Urgent pls answer the question attached below.This is how you answer the problem:-Identify the given -What is being ask in the problem-Provide the formula(pls include this because this is my basis on what topic the problem all about)-Solution(plug in the given to the formula and show me the flow of the computation)That's all. Thanks in advance :)
arrow_forward
hre.7
arrow_forward
Ethics case: Uncollectible Accounts
Introduction
The purpose of this discussion forum is to give you an opportunity to apply your critical-thinking ability to the knowledge you’ve gained. The assignment provides you with an opportunity to develop your research, analysis, judgment, and communication skills. You also will work with other students, integrate what you’ve learned, apply it in real-world situations. This practice will broaden your knowledge and further develop your decision-making abilities. The assignment achieves learning objective 5.
The assignment information is given below;
You have recently been hired as the assistant controller for Stanton Industries, a large, publicly held manufacturing company. Your immediate superior is the controller who, in turn, is responsible to the vice president of finance. The controller has assigned you the task of preparing the year-end adjusting entries. In the receivables area, you have prepared an aging of accounts receivable and have…
arrow_forward
Critical Thinking Exercises
2-6 As a student you have individual experiences with your
college or university. These may include managing the ap-
plication process, enrolling, orientation, choosing a major,
setting schedules, and many more. Conduct a SWOT
analysis for your school from your perspective. Discuss
how your SWOT analysis would provide strategic insight
for future decisions at your college or university. (AACSB:
Communication; Reflective Thinking)
arrow_forward
1. Journal all transactions in Part One 2. Using the chart of accounts, open ledger accounts and post journals to the ledger account. 3. Prepare a trial balance 4. Prepare the following statements: 1. Income Statement 2. Retained Earnings Statements 3. Balance Sheet You need to use Microsoft Excel. Do not use Google Docs or Apple’s numbers. Place your submission in the appropriate journal labeled final project in the learning modules tab in Blackboard. The project is due in Module 15. Three points extra credit to final grade if submitted during Module 14. Part One A. The following transaction occurred for Scrooge Inc. for the month of December 31, 1820. B. Ebenezer Scrooge invested $50,000 cash along in the company in exchange for common stock. C. The company prepaid $500 for 12 month’s rent. D. The company purchased $100 in office supplies. Payment due withing 10 days E. Scrooge Inc. completed services for a client and immediately received $2,000. F. The company completed $1,500…
arrow_forward
7
arrow_forward
For this intro accounting class, Are there any study tips you have used in this class and past classes that were particularly
effective? Are there any habits you have used in prior courses that made you more successful? Provide a habit you found
that you have not used before, that you think might help you in your classes?
arrow_forward
Make a textual information from this Enrollment by Key Stage
arrow_forward
Need help with Part 1 and 2 please.
arrow_forward
Comprehensive Problem 1
Part 4 and Part 6:
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of th
concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional.
Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).
a. Insurance expired during May is $275.
b. Supplies on hand on May 31 are $715.
C. Depreciation of office equipment for May is $330.
d. Accrued receptionist salary on May 31 is $325.
e. Rent expired during May is $1i,600.
I Uneamed fees on May 31 are $3,210.
Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2.
a. Insurance expired during May is $275.
Account Name
Post. Ref.
Debit
Credit
b. Supplies on hand on May 31 are $715.
Account Name
Post. Ref.
Debit
Credit…
arrow_forward
Hi there! I've been stuck on these two problems for > two hours now and I'm not at all sure what to do. Is there any way someone can help me?
arrow_forward
Give reflection of this homework.
arrow_forward
Comprehensive Problem 1Part 4 and Part 6:
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional.
Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).
a. Insurance expired during May is $275.b. Supplies on hand on May 31 are $715.c. Depreciation of office equipment for May is $330.d. Accrued receptionist salary on May 31 is $325.e. Rent expired during May is $1,600.f. Unearned fees on May 31 are $3,210.
Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2.
a. Insurance expired during May is $275.
Account Name
Post. Ref.
Debit
Credit
fill in the blank 2
fill in the blank 4
b. Supplies…
arrow_forward
Milestone #1 – Research Project Overview (Week Two)
Introduction: Provide a brief overview of the research healthcare. Describe the topic you are focusing on and establish the rationale behind your choice. Use the model for introduction on page 111 in Creswell & Creswell.
Purpose: Describe the main topics that you will examine in the context of the survey. You do not need to discuss the specific survey questions here. Rather, focus on the broader topics and themes that you will address in the questionnaire. Creswell & Creswell (2023) discuss this in Chapter 6.
arrow_forward
You wish to take an Excel course. You may enroll at one within your school or you may take a community class at the local library. You've gathered the following information to aid in your decision-making process:
Costs/Benefits
College Course
Community Course
Cost
$4,300
$1,190
Distance to course
0.20 miles (walking distance)
18 miles (driving distance)
Timing of course
Weekday
Weekend
Number of meetings
16
8
Qualitative considerations
Convenience, quality of instruction
Flexibility, brief duration
Pretend transportation (gas, mileage, and parking) cost $220 per class session at the library. If you consider solely the cost - including transportation - of each alternative, which would you choose?
Multiple Choice
College course
Community course
Both alternatives
Neither alternative
arrow_forward
Creative thinking is the ability to look at things differently, and find new ways of solving problems. How does the Accountancy course sharpen your creative thinking? Answer in 1 sentence only
arrow_forward
>
Week 9
Assignment 9.4
Assignment 9.4 - BUSINESS PLAN
Upload your assignment through the link
provided in this week's assignments folder.
The financial and accounting statements
provide the information needed to measure
the projected success of the business plan.
The recipient of the business plan will want to
have an understanding of this information in
assessing the performance of the proposed
business plan. The two questions to answer
are the following:
a. What information will be needed to
develop the accounting and financial
statements.
b. What information is needed to explain
the importance of these statements to
the other business functions.
The discussion shall be approximately 1½ to 2
pages in length, doubled space, using a size
12 font. Any direct quotes or the paraphrase of
unique thoughts of others should be properly
cited and referenced using general APA
arrow_forward
4. Power phrases for the skills section of a résumé include all of the following EXCEPT:
A. Ideal oral and written communication skills
B. Prepared reports and other materials requiring independent achievement
C. Strong attention to detail
D. Maintaining confidentiality
6. A chronological résumé will usually:
A. None of these
B. Only be one page long
C. Be brief
D. Be one or more pages long
7. A career objective is a statement that should:
A. Be given at the start of an interview
B. Be included on your résumé
C. Include your personal preferences
D. Be given to those in your network
arrow_forward
Determine the most valuable aspect of this course to you and explain how you plan to apply it
to your personal financial practices.Share two ways that you feel you will be able to apply the
concepts you learned in this course to your current or future work position.
arrow_forward
Directions:
1. Read and analyze the given scenario.
2. With the goal and role of financial management in business in mind, determine whether the project
should be continued or abandoned. Use the following facts and figures below as your reference.
3. Present your recommendation and explain the reasons in 4-6 sentences.
4. Write your answer on the blanks provided.
Company A accepts a project to create a Learning Management System (LMS) for a big client. This
company also creates and produces online training materials such as digital videos and ebooks. The LMS
project itself has a projected revenue of $850,000. So far, the expenses amounting to $600,000 have
been incurred by Company A on the project. This is way beyond the allocated budget. Due to this, the
management contemplates on whether the project should still be continued.
1. Customized Software/Program Already purchased for $80,000 (apart from the $600,000 mentioned
above), this software cannot be used for any other products of…
arrow_forward
Hi I need help on what is the answer to this problems? Below is the question and other concerns will be in the comment section. I hope you can help me and surely I will give you full positive feedback
arrow_forward
Using the following prompts, share your experience learning about Accounting Information Systems:
What is your overall reflection of the course?
What were one or two of the topics covered in Module 8 that you think are most relevant for accountants now?
Which course topic(s) did you find most interesting?
Which of the topics did you find most confusing or challenging?
arrow_forward
Please solve urgent
arrow_forward
Comprehensive Problem 1Part 5: Work Sheet
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4 before completing part 5.
Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.
Insurance expired during May is $275.
Supplies on hand on May 31 are $715.
Depreciation of office equipment for May is $330.
Accrued receptionist salary on May 31 is $325.
Rent expired during May is $1,600.
Unearned fees on May 31 are $3,210.
If an amount box does not require an entry, leave it blank or enter "0".
Kelly ConsultingEnd-of-Period Spreadsheet (Work Sheet)For the Month Ended May 31, 20Y8
Unadjusted Trial Balance
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Account Title
Debit
Credit
Debit…
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:9780134897264
Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:Pearson,
Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i...
Finance
ISBN:9780077861759
Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:McGraw-Hill Education
Related Questions
- Additionally, regarding the project, please do not assume that the reader is familiar with the subject areas that you are writing about. Therefore, definitions, assumptions, facts, and analyses are required in this assignment. Further, there are four questions that are being asked. Three questions need supporting calculations to validate your answers. Please help me by showing the calculations and assumptions in each of the answers, otherwise I will receive an 0. Kindly show your calculations. Also, a review of Learning Objective 4 in chapter 21 would be a good place to start with this assignment (Lease Capitalization, Bargain purchase Option.) Below are the questions for your convenience. What ethical issue is at stake? Should the controller's argument be accepted if she does not really know much about copier technology? Would it make a difference if the controller were knowledgeable about the rate of change in copier technology? What should Suffolk do?arrow_forwardUrgent pls answer the question attached below.This is how you answer the problem:-Identify the given -What is being ask in the problem-Provide the formula(pls include this because this is my basis on what topic the problem all about)-Solution(plug in the given to the formula and show me the flow of the computation)That's all. Thanks in advance :)arrow_forwardhre.7arrow_forward
- Ethics case: Uncollectible Accounts Introduction The purpose of this discussion forum is to give you an opportunity to apply your critical-thinking ability to the knowledge you’ve gained. The assignment provides you with an opportunity to develop your research, analysis, judgment, and communication skills. You also will work with other students, integrate what you’ve learned, apply it in real-world situations. This practice will broaden your knowledge and further develop your decision-making abilities. The assignment achieves learning objective 5. The assignment information is given below; You have recently been hired as the assistant controller for Stanton Industries, a large, publicly held manufacturing company. Your immediate superior is the controller who, in turn, is responsible to the vice president of finance. The controller has assigned you the task of preparing the year-end adjusting entries. In the receivables area, you have prepared an aging of accounts receivable and have…arrow_forwardCritical Thinking Exercises 2-6 As a student you have individual experiences with your college or university. These may include managing the ap- plication process, enrolling, orientation, choosing a major, setting schedules, and many more. Conduct a SWOT analysis for your school from your perspective. Discuss how your SWOT analysis would provide strategic insight for future decisions at your college or university. (AACSB: Communication; Reflective Thinking)arrow_forward1. Journal all transactions in Part One 2. Using the chart of accounts, open ledger accounts and post journals to the ledger account. 3. Prepare a trial balance 4. Prepare the following statements: 1. Income Statement 2. Retained Earnings Statements 3. Balance Sheet You need to use Microsoft Excel. Do not use Google Docs or Apple’s numbers. Place your submission in the appropriate journal labeled final project in the learning modules tab in Blackboard. The project is due in Module 15. Three points extra credit to final grade if submitted during Module 14. Part One A. The following transaction occurred for Scrooge Inc. for the month of December 31, 1820. B. Ebenezer Scrooge invested $50,000 cash along in the company in exchange for common stock. C. The company prepaid $500 for 12 month’s rent. D. The company purchased $100 in office supplies. Payment due withing 10 days E. Scrooge Inc. completed services for a client and immediately received $2,000. F. The company completed $1,500…arrow_forward
- 7arrow_forwardFor this intro accounting class, Are there any study tips you have used in this class and past classes that were particularly effective? Are there any habits you have used in prior courses that made you more successful? Provide a habit you found that you have not used before, that you think might help you in your classes?arrow_forwardMake a textual information from this Enrollment by Key Stagearrow_forward
- Need help with Part 1 and 2 please.arrow_forwardComprehensive Problem 1 Part 4 and Part 6: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of th concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional. Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. C. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1i,600. I Uneamed fees on May 31 are $3,210. Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2. a. Insurance expired during May is $275. Account Name Post. Ref. Debit Credit b. Supplies on hand on May 31 are $715. Account Name Post. Ref. Debit Credit…arrow_forwardHi there! I've been stuck on these two problems for > two hours now and I'm not at all sure what to do. Is there any way someone can help me?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Essentials Of InvestmentsFinanceISBN:9781260013924Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.Publisher:Mcgraw-hill Education,
- Foundations Of FinanceFinanceISBN:9780134897264Author:KEOWN, Arthur J., Martin, John D., PETTY, J. WilliamPublisher:Pearson,Fundamentals of Financial Management (MindTap Cou...FinanceISBN:9781337395250Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage LearningCorporate Finance (The Mcgraw-hill/Irwin Series i...FinanceISBN:9780077861759Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan ProfessorPublisher:McGraw-Hill Education
Essentials Of Investments
Finance
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:9780134897264
Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:Pearson,
Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i...
Finance
ISBN:9780077861759
Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:McGraw-Hill Education