Future Value of a Single Cash Flow
Jenkins Products has just been paid $25,000 by Shirley Enterprises, which has owed Jenkins this amount for 30 months but been unable to pay because of financial difficulties. Had it been able to invest this cash, Jenkins assumes that it would have earned an interest rate of 12% compounded monthly (1% per month).
Required:
Note: Round answers to two decimal places.
1. Prepare a cash flow diagram for the investment that could have been made if Shirley had paid 30 months ago.
2. Determine how much Jenkins has lost by not receiving the $25.000 when it was due 30 months ago.
3. CONCEPTUAL CONNECTION Indicate whether Jenkins would make an entry to account for this loss. Why or why not?
Financial & Managerial Accounting
Accounting Information Systems
Financial And Managerial Accounting
Corporate Financial Accounting
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Probability and Statistics for Engineering and the Sciences
Essentials of Business Communication (MindTap Course List)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Foundations of Business (MindTap Course List)
Principles of Economics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Fundamentals of Financial Management (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
ECON MICRO
Brief Principles of Macroeconomics (MindTap Course List)
Fundamentals of Information Systems
Principles of Information Security (MindTap Course List)
Fundamentals of Information Systems
Database Systems: Design, Implementation, & Management
Database Systems: Design, Implementation, & Management
Principles of Information Systems (MindTap Course List)
Principles of Information Systems (MindTap Course List)
Mechanics of Materials (MindTap Course List)
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
Precision Machining Technology (MindTap Course List)
Fundamentals of Geotechnical Engineering (MindTap Course List)
Automotive Technology: A Systems Approach (MindTap Course List)
Management Of Information Security
Systems Analysis and Design (Shelly Cashman Series) (MindTap Course List)
Principles of Geotechnical Engineering (MindTap Course List)
International Edition---engineering Mechanics: Statics, 4th Edition
Fundamentals of Chemical Engineering Thermodynamics (MindTap Course List)
Solid Waste Engineering
Steel Design (Activate Learning with these NEW titles from Engineering!)
Automotive Technology
EBK ELECTRICAL WIRING RESIDENTIAL
Electric Motor Control
Enhanced Discovering Computers 2017 (Shelly Cashman Series) (MindTap Course List)
Structural Analysis
Network+ Guide to Networks (MindTap Course List)
Cornerstones of Cost Management (Cornerstones Series)
College Accounting, Chapters 1-27
Financial Accounting
Financial & Managerial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Intermediate Accounting: Reporting And Analysis
Survey of Accounting (Accounting I)
Accounting Information Systems
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Managerial Accounting: The Cornerstone of Business Decision-Making
Corporate Financial Accounting
Financial Accounting
Accounting (Text Only)
Managerial Accounting
Understanding Management (MindTap Course List)
Purchasing and Supply Chain Management
Economics (MindTap Course List)
MKTG 12:STUDENT ED.-TEXT
Micro Economics For Today
Principles of Macroeconomics (MindTap Course List)
Practical Management Science
Microeconomics
Pkg Acc Infor Systems MS VISIO CD
Exploring Economics
Essentials of Economics (MindTap Course List)
Principles of Microeconomics
Fundamentals of Financial Management (MindTap Course List)
Contemporary Marketing
MACROECONOMICS FOR TODAY
Economics For Today
Economics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Management, Loose-Leaf Version
Macroeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics