Financial Accounting

BE2-25 Smolinski Company is considering an investment which will return a lump sum of $500,000 five years from now. What amount should Smolinski Company pay for this investment to earn a 15% return?

Present value of annuity

BE2-27 Kilarny Company is considering investing in an annuity contract that will return $20,000 annually at the end of each year for 15 years. What amount should Kilarny Company pay for this investment if it earns a 6% return?

Cash proceeds from issuance of bonds: Bond price

Galway Bay Enterprises issued 10%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2002, and are issued on that date. The discount rate of interest for such bonds on April 1, 2002, is 12%. What cash proceeds did Galway Bay receive from issuance of the bonds ...continues

Financial Accounting 363 (II)

Please see attached.

Financial Accounting 363 (II)

Please see attached.

Financial Accounting 363 (II) Multiple choice questions on current assets and current liabilities

Please highlight the correct answer 51. The relationship between current liabilities and current assets is a. useful in determining income. b. useful in evaluating a company's liquidity. c. called the matching principle. d. useful in determining the amount of a company's long-term debt. 52. Most companies pay current liabi ...continues

Financial Accounting 363 (II)

76. Ron's Pharmacy has collected $600 in sales taxes during March. If sales taxes must be remitted to the state government monthly, what entry will Ron's Pharmacy make to show the March remittance? a. Sales Tax Expense 600 Cash 600 b. Sales Taxes Payable 600 Cash 600 c. Sales Tax Expense 600 Sales Taxes Payable 600 d. No ...continues

number properties

Simplify each of the following expressions further and identify the number property(ies) used in each. 1. 2 x (15+8)= (2 x 15)+ (2 x 8)= 2. 5/2 x (3/4 x 2/5)= (5/2 x 2/5)x 3/4=

Divisibility

Test the following for divisibility by 2,3,4,5,6,8,9,and 10. (No calculator, explain your thinking. i. 6 543 210 b. What is the smallest whole number that is divisible by 2,3,4,5,6,8,9 and 10.

Prime factorization

Rewrite in the simplest form. State the GCF(greatest common factor) of numerator and denominator in each case. 1. 34/85 2. 123123/567567 Find 5/9+7/12 using three different denominators. Give your answers as mixed numbers in lowest terms. State the LCM (least common multiple)of the denominators.