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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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What is a deferred ordinary annuity? How does it differ from one that is not deferred? Draw a time line of each.

To determine

Explain deferred ordinary annuity and explain the way in which the deferred ordinary annuity differs from non- deferred ordinary annuity with timeline.

Explanation

 Annuity: An annuity is referred as a sequence of payment of fixed amount of cash flows that occurs over the equal intervals of time.  Cash flow occurs during the first day of each time period is known as an annuity due, whereas cash flow occurs during the last day of each time period is known as an ordinary annuity.

Deferred ordinary annuity: First cash flow of annuity payment starts on a future date is represented as deferred ordinary annuity...

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