menu
bartleby
search
close search
Hit Return to see all results
Subscribe
Sign in

Business
AccountingIntermediate Accounting: Reporting And Analysis3rd Edition

close solutoin list
Chapter M, Problem 4MC
BuyFindarrow_forward

Intermediate Accounting: Reporting...

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

Solutions

Chapter
Section
Problem 1GI
Problem 2GI
Problem 3GI
Problem 4GI
Problem 5GI
Problem 6GI
Problem 7GI
Problem 8GI
Problem 9GI
Problem 10GI
Problem 11GI
Problem 12GI
Problem 13GI
Problem 14GI
Problem 15GI
Problem 16GI
Problem 17GI
Problem 18GI
Problem 19GI
Problem 20GI
Problem 21GI
Problem 22GI
Problem 23GI
Problem 24GI
Problem 25GI
Problem 26GI
Problem 1MC
Problem 2MC
Problem 3MC
Problem 4MC
Problem 5MC
Problem 6MC
Problem 7MC
Problem 8MC
Problem 9MC
Problem 10MC
Problem 1RE
Problem 2RE
Problem 3RE
Problem 4RE
Problem 5RE
Problem 6RE
Problem 7RE
Problem 8RE
Problem 9RE
Problem 10RE
Problem 11RE
Problem 12RE
Problem 13RE
Problem 14RE
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
Problem 11E
Problem 12E
Problem 13E
Problem 14E
Problem 1P
Problem 2P
Problem 3P
Problem 4P
Problem 5P
Problem 6P
Problem 7P
Problem 8P
Problem 9P
Problem 10P
Problem 11P
Problem 12P
Problem 13P
Problem 14P
Problem 15P
Problem 16P
Problem 17P
Problem 18P
Problem 19P
Problem 1C
Problem 2C
Problem 3C
Problem 4C
Problem 5C
BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
5 views

Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs $2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.)

  1. a. $2,000 + ($2,000 × 0.926) + ($2,000 × 0. 857) + ($2,000 × 0.794)
  2. b. $ 2 , 000 0.735 × 4
  3. c. ($2,000 × 0.926) + ($2,000 × 0.857) + ($2,000 × 0.794) + ($2,000 × 0.735)
  4. d. $ 2 , 000 0.926 × 4

To determine

Determine the amount that Person B should have in his bank account.

Explanation

Present Value: The value of today’s amount expected to be paid or received in the future at a compound interest rate is called as present value.

Person B wants to withdraw $2,000 each year for 4 years consecutively, first withdraw starts from today. This is an annuity cash flow. In the absence of present value of annuity table, present value of an annuity withdrawal can be calculated using the present value of $1 table as follows:

Present valueof an annuity} = [C of Year 1 + (C of year 2×(Pn=1,i=8%))+(C of year 3×(Pn=2,i=8%))+(C of year 4×

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution
arrow_back
Chapter M,
Problem 3MC
Chapter M,
Problem 5MC
arrow_forward

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter M Solutions

Show all chapter solutions add
Ch-M P-1GICh-M P-2GICh-M P-3GICh-M P-4GICh-M P-5GICh-M P-6GICh-M P-7GICh-M P-8GICh-M P-9GICh-M P-10GI
Ch-M P-11GICh-M P-12GICh-M P-13GICh-M P-14GICh-M P-15GICh-M P-16GICh-M P-17GICh-M P-18GICh-M P-19GICh-M P-20GICh-M P-21GICh-M P-22GICh-M P-23GICh-M P-24GICh-M P-25GICh-M P-26GICh-M P-1MCCh-M P-2MCCh-M P-3MCCh-M P-4MCCh-M P-5MCCh-M P-6MCCh-M P-7MCCh-M P-8MCCh-M P-9MCCh-M P-10MCCh-M P-1RECh-M P-2RECh-M P-3RECh-M P-4RECh-M P-5RECh-M P-6RECh-M P-7RECh-M P-8RECh-M P-9RECh-M P-10RECh-M P-11RECh-M P-12RECh-M P-13RECh-M P-14RECh-M P-1ECh-M P-2ECh-M P-3ECh-M P-4ECh-M P-5ECh-M P-6ECh-M P-7ECh-M P-8ECh-M P-9ECh-M P-10ECh-M P-11ECh-M P-12ECh-M P-13ECh-M P-14ECh-M P-1PCh-M P-2PCh-M P-3PCh-M P-4PCh-M P-5PCh-M P-6PCh-M P-7PCh-M P-8PCh-M P-9PCh-M P-10PCh-M P-11PCh-M P-12PCh-M P-13PCh-M P-14PCh-M P-15PCh-M P-16PCh-M P-17PCh-M P-18PCh-M P-19PCh-M P-1CCh-M P-2CCh-M P-3CCh-M P-4CCh-M P-5C

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

STOCKHOLDERS EQUITY SECTION After closing its books on December 31, 20, Merrill Corporations stockholders equit...

College Accounting, Chapters 1-27

What is the OLAP operation of drill-down?

Accounting Information Systems

In a decentralized company in which the divisions are organized as investment centers, how could a. division be...

Financial & Managerial Accounting

Use the following information for Exercises 3-47 and 3-48: During the past year, the high and low use of three ...

Managerial Accounting: The Cornerstone of Business Decision-Making

Assume that when a purchase of supplies of 2,650 for cash was recorded, both the debit and the credit were jour...

Corporate Financial Accounting

The following cash receipts journal headings have been suggested for a small service firm. List the errors you ...

Financial Accounting

Capital rationing decision for a service company involving four proposals Clearcast Communications Inc. is cons...

Accounting

Which of the following items would not be considered a manufacturing cost? a. Cream for an ice cream maker. b. ...

Financial And Managerial Accounting

Why do economists make assumptions?

Principles of Microeconomics (MindTap Course List)

(LongRun Costs) Suppose the firm has only three possible scales of production as shown below: a. Which scale of...

ECON: MICRO4 (New, Engaging Titles from 4LTR Press)

An increase in the aggregate demand for goods and services has a larger impact on output _____ and a larger imp...

Brief Principles of Macroeconomics (MindTap Course List)

FINANCIAL STATEMENTS AND TAXES Donna jamison, a 2011 graduate of the University of Florida, with 4 years of ban...

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Using the diagram n exercise 5, illustrate the effect of the change in Japanese tastes if exchange rates are fi...

Economics:

(Supply) Why is a firm willing and able to increase the quantity supplied as the product price increases?

ECON MICRO

How does a product line differ from a product mix?

Foundations of Business (MindTap Course List)

Explain whether each of the following government activities is motivated by a concern about equality or a conce...

Essentials of Economics (MindTap Course List)

NONCONSTANT GROWTH VALUATION Holt Enterprises recently paid a dividend, D0, of 2.75. It expects to have noncons...

Fundamentals of Financial Management (MindTap Course List)

Pew Research Center is a nonpartisan polling organization that provides information about issues, attitudes, an...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Assume the market for corn is depicted as in the table that appears below. Complete the table below. What marke...

ECON MACRO

Consider an economy that produces only chocolate bars, in year 1, the quantity produced is 3 bars and the price...

Principles of Macroeconomics (MindTap Course List)

Identify the impact of technology on a firm

MKTG 12:STUDENT ED.-TEXT

Suppose that there are 10 million workers in Canada and that each of these workers can produce either 2 cars or...

Principles of Economics (MindTap Course List)

Given a description of a companys marketing mix, classify the elements of the marketing mix and the category of...

Contemporary Marketing

An enterprise system supports a business process by: a. Facilitating the functioning of the business process. b...

Accounting Information Systems

Rate each of the following questions according to the Following scale: I am never like this. I am rarely like t...

Management, Loose-Leaf Version

Adjustment: Responding to TV Claim Christopher Sanchez is Regional Manager at Digital Depot in New Orleans, Lou...

Essentials of Business Communication (MindTap Course List)

Name and describe the five elements of internal control. Is any one element of internal control more important ...

Financial & Managerial Accounting

What is a mixed account? A contra account? Give an example of each.

College Accounting (Book Only): A Career Approach

During the preparation of the bank reconciliation for Building Concepts Co., Joel Knolls, the assistant control...

Financial Accounting

Great Manufacturing Company received and paid a premium notice on January 2 for workers compensation insurance ...

College Accounting (Book Only): A Career Approach

Revaluing and contributing assets to a partnership Demarco Lee invested 60,000 in the Camden and Sayler partner...

Accounting (Text Only)

A sample of midterm grades for five students showed the following results: 72, 65, 82, 90, 76. Which of the fol...

Statistics for Business & Economics, Revised (MindTap Course List)

To get information about Apples dividend policy, enter its ticker quote (AAPL) and select OVERVIEW FULL REPOR...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Plea...

Fundamentals of Financial Management (MindTap Course List)

Draw a graph showing a monopolistically competitive firm in a short-run equilibrium where it is earning economi...

Exploring Economics

The following information is provided for a building: Cost 500,000 Depreciation expense per year 25,000 Accumul...

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

Based on the definition of float presented in the chapter, discuss several possibilities for improving the cash...

Pkg Acc Infor Systems MS VISIO CD

When an adverse supply shock shifts the short-run aggregate-supply curve to the left, it also a. moves the econ...

Principles of Macroeconomics (MindTap Course List)

Predetermined factory overhead rate Novus Engine Shop uses a job order cost system to determine the cost of per...

Survey of Accounting (Accounting I)

The wages and hours information for five employees of McNeese Enterprises for the week ended July 7 is given be...

PAYROLL ACCT.,2019 ED.(LL)-TEXT

A firm has consistently adjusted its allowance account at the end of the fiscal year by adding a fixed percent ...

Corporate Financial Accounting

What is the difference between the equation of exchange and the simple quantity theory of money?

Macroeconomics

Insert needed commas. Write correct if you find no errors. The employee who is featured in our latest televisio...

Bcom

Olympus, Inc., manufactures three models of mattresses: the Sleepeze, the Plushette, and the Ultima. Forecast s...

Cornerstones of Cost Management (Cornerstones Series)

Draw a diagram that shows a smaller increase in supply than the increase in demand.

Microeconomics

Explain how the classical economists concluded that Says Law is valid and long-term unemployment is impossible.

Economics For Today

Some supply management experts argue that suppliers should not receive rewards for doing something that is alre...

Purchasing and Supply Chain Management

On average, 50 customers arrive per hour at a small post office. Interarrival times are exponentially distribut...

Practical Management Science

In monetarism, how will each of the following affect the price level in the short run? a. An increase in veloci...

Economics (MindTap Course List)

bartleby
© bartleby 2019