# 4a 4b Payment and frequency (PMT) $1,200 end of quarter $475.50 per month (end) 4c S per every six months (end) 4d $985.55 per quarter (end) Time in years (n) 6 years 190 payments 9 years Interest rate and compound frequency (I/Y) 5% compounded quarterly 6%% compounded quarterly 4% compounded monthly 17.95% compounded years monthly Present Value (PV) Not Applicable $18,000 Not Applicable Future Value (FV) Not Applicable Not Applicable $1,000,000

Q: None

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Completing the Accounting cycle

An accounting cycle is a multiple-step process that analyzes, verify, record and summarize the entities financial data. The accounting cycle starts when the transaction occurs between two parties and ends when the transaction is completed. The accounting cycle changes the entity's financial position as it involves identifying, verifying, and recording the financial transaction in chronological order. Financial position is the summary of business transactions that occurred throughout the particular accounting period. The accounting cycle recurs at the beginning of each financial year.