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
The purpose of this discussion is to provide an opportunity to review and reflect on your growth in this class. This helps you place the course meaningfully into your life and plans.
Be sure to post an initial, substantive response by Thursday at 11:59 p.m. MT, to the following prompt:
Reflect on what you have learned in this course. Choose two of the following questions to discuss:
What topic or subject did you like best in this course?
What topic or subject did you struggle with most in this course?
What would you do differently if you had the option to take this course again?
What did you learn in this course that you think will benefit you in your future studies or career path?
Work to demonstrate your understanding of the material from this module and, where necessary, include your sources.
arrow_forward
Learning Outcome 7. Answer the following question in a short answer of 100-150 words; provide comprehensive information and examples in applicable, to support your answer. How Financial Statements are Interconnected? Explain.
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
Unit VI Assignment Instructions: This assignment involves answering a series of questions, and each question provides you with an opportunity to accomplish the following course learning outcome: 8. Critique interview techniques. Be sure to answer each question, save all of your work in this template, and submit it in Blackboard for grading. 1. After answering the last question, Jason said thank you and the interview was over. Briefly describe one or more techniques that Jason could have used to improve the conclusion of his interview. Your response should be at least 75 words. 2. Danielle was interviewing for a position, and the interviewer asked for her salary requirements. As Danielle was not expecting to hear that question, she mumbled for a minute before eventually saying $40,000.00, which is low for someone with her experience. Briefly describe one or more techniques…
arrow_forward
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
A Quantitative Synthesis of Emotions Experienced of Aspiring Law Students Inside The Classroom
Can you define the purpose of the study?
Minimum of 2 sentences
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
Part 3: Kolb's Learning style inventory
a. Briefly describe Kolb's Learning Style Model
b. Take the test and identify your preferred
learning style (Diverging, Assimilating,
Converging or Accommodating) based on the
test. Discuss whether you think that this is
true.
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
Good day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not.
Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used.Lastly, box the final answers.
Pps. Answer only letter c to f.Thanks in advance tutor :)
arrow_forward
Good day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not.
Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used.Lastly, box the final answers. Thanks in advance tutor :)
arrow_forward
Define measurement as per the conceptual framework. List and briefly explain the measurement
methods reviewed in class this week. Does the Conceptual framework prescribe which
measurement base should be used?
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
Dlhos - YouT
A Apex Learning
- Apex Learning - Courses
A https://course.apexlearning.com/public/activity/7001002/assessment
cial Literacy
1 7.1.2 Exam: Exam
Question 1 of 40
Which of these options for saving money offers the most liquidity?
A. A savings bond
B. A money market account
C. A piggy bank
D. A basic savings account
SUBMIT
E PREVIOUS
re to search
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
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
Instruction: In the chart are words you have encountered from the discussion. In the
second column, write the meaning of the words. In the third column, provide example of
each word.
Words
Meaning
Example
4. Fortuitous event
5.Diligence of
father of the family
a good
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
Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below.
arrow_forward
please help me analyze and asnwer the questions with formula so that i can learn and get ready for my exam :<
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
Question content area top
Part 1
(Comprehensive Problem) Suppose that you are in the fall of your senior year and are faced with the choice of either getting a job when you graduate or going to law school. Of course, your choice is not purely financial. However, to make an informed decision you would like to know the financial implications of the two alternatives. Let's assume that your alternatives are as follows:
If you take the "get a job" route you expect to start off with a salary of
$35,000
per year. There is no way to predict what will happen in the future, your best guess is that your salary will grow at
4
percent per year until you retire in
42
years. As a law student, you will be paying
$30,000
per year tuition for each of the
3
years you are in graduate school. However, you can then expect a job with a starting salary of
$75,000
per year. Moreover, you expect your salary to grow by
7
percent per year until you retire
36
years later.
Clearly, your…
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
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Related Questions
- The purpose of this discussion is to provide an opportunity to review and reflect on your growth in this class. This helps you place the course meaningfully into your life and plans. Be sure to post an initial, substantive response by Thursday at 11:59 p.m. MT, to the following prompt: Reflect on what you have learned in this course. Choose two of the following questions to discuss: What topic or subject did you like best in this course? What topic or subject did you struggle with most in this course? What would you do differently if you had the option to take this course again? What did you learn in this course that you think will benefit you in your future studies or career path? Work to demonstrate your understanding of the material from this module and, where necessary, include your sources.arrow_forwardLearning Outcome 7. Answer the following question in a short answer of 100-150 words; provide comprehensive information and examples in applicable, to support your answer. How Financial Statements are Interconnected? Explain.arrow_forwardEthics 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
- Unit VI Assignment Instructions: This assignment involves answering a series of questions, and each question provides you with an opportunity to accomplish the following course learning outcome: 8. Critique interview techniques. Be sure to answer each question, save all of your work in this template, and submit it in Blackboard for grading. 1. After answering the last question, Jason said thank you and the interview was over. Briefly describe one or more techniques that Jason could have used to improve the conclusion of his interview. Your response should be at least 75 words. 2. Danielle was interviewing for a position, and the interviewer asked for her salary requirements. As Danielle was not expecting to hear that question, she mumbled for a minute before eventually saying $40,000.00, which is low for someone with her experience. Briefly describe one or more techniques…arrow_forwardAdditionally, 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_forwardA Quantitative Synthesis of Emotions Experienced of Aspiring Law Students Inside The Classroom Can you define the purpose of the study? Minimum of 2 sentencesarrow_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_forwardPart 3: Kolb's Learning style inventory a. Briefly describe Kolb's Learning Style Model b. Take the test and identify your preferred learning style (Diverging, Assimilating, Converging or Accommodating) based on the test. Discuss whether you think that this is true.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
- Good day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not. Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used.Lastly, box the final answers. Pps. Answer only letter c to f.Thanks in advance tutor :)arrow_forwardGood day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not. Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used.Lastly, box the final answers. Thanks in advance tutor :)arrow_forwardDefine measurement as per the conceptual framework. List and briefly explain the measurement methods reviewed in class this week. Does the Conceptual framework prescribe which measurement base should be used?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax CollegePkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L