Q 1 please Choose the correct answers for the following questions:1. Calculate the final amount in a bank account after 2 years if $1000 is deposited at 6% per yearinterest compounded quarterly.500120mvongB) $1136A) $1126C) $1226D) $112602. Jan decides to invest $9,000 in a 401(k). If this is invested for 40 years, how much will there be inthe account at the end? Assume that he invests in a broad stock market no-load index fund that hashistorically returned 12% per year.B) $877,458.73A) $537,458.73C) $837,458.73D) $837,968.733. Jeff opens a charge card account with a department store. In the charge account agreement, thestore indicated it charges 1.5% each month on the unpaid balance. What nominal annual interestrate is being charged?B) 18%A) 8%C) 16%D) 14%4. Sue opens a charge card account with a department store. In the charge account agreement, thestore indicated it charges 2% each month on the unpaid balance. If the nominal annual interest rateis being charged is %24, what is the effective annual interest rate?B) 20.82%A) 19.82%C) 16.82%5. The basic requirement(s) that must be met for an asset to be depreciated?A) It must be used in business or held for production of income.B) It must have a definite service life, and that life must be longer than 1 year.C) It must be something that wears out, decays, gets used up, becomes obsolete, or loses value fromnatural causes.D) 26.82%D) All of the mentioned.6. How long would it take for an investment to triple if the interest rate is 10% compoundedannually?A) n = 13 yearsB) n = 1.53 yearsC) n = 12.53 yearsD) n=11.53 years7. An asset purchased for $50,000 is to be depreciated over 5 years using the straight-line method.Salvage value is $10,000. Its book value after 3 years is:nasy?YA) $24.000B) $26.000C) $25.500D) $25.000

Time value of money :— According to this concept, value of money in present day is greater than the…

Choose the correct answers for the following questions: 1. Calculate the final amount in a bank account after 2 years if $1000 is deposited at 6% per year interest compounded quarterly. izom e vonont to slee A) $1126 B) $1136 C) $1226 40 D) $11260 m

Choose the correct answers for the following questions: 1. Calculate the final amount in a bank account after 2 years if $1000 is deposited at 6% per year interest compounded quarterly. izom e vonont to slee A) $1126 B) $1136 C) $1226 40 D) $11260 m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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J 7 Choose from list of answer choices and show/explain work.
Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,100 units, but its actual level of activity was 5,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting: Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses Actual results for May: Revenue Direct labor Direct materials Fixed element per month $0 $0 0 41,500 22,700 $ 64,200 $ 197,810 $ 28,565 $ 80,265 $ 47,905 $ 22,680 Manufacturing overhead Selling and administrative expenses The spending variance for manufacturing overhead in May would be closest to: Variable element per unit $ 39.60 $ 5.50 15.70 1.30 0.20 $ 22.70
j 1 2 3 4 5 Pr 0.15 0.10 0.55 0.15 0.05 Return, r 20.00% 5.00% 0.00% - 5.00% - 10.00%
1 . S u p p o s e t h a t s o m e o n e s t o l e y o u r A T M c a r d a n d w i t h d r e w P 5 0 , 0 0 0 . 0 0 f r o m y o u r c h e c k i n g a c c o u n t . H o w m u c h m o n e y c o u l d y o u l o s e i f y o u r e p o r t e d t h e s t o l e n c a r d t o t h e b a n k : a ) T h e d a y t h e c a r d w a s st o l e n b ) 6 d a y s a f t e r t h e t h e f t c ) 7 5 d a y s a f t e r r e c e i v i n g y o u r p e r i o d i c s t a t e m e n t 2 . Y o u ' r e g e t t i n g m a r r i e d a n d a r e u n h a p p y w i t h y o u r p r e s e n t b a n k . D i s c u s s y o u r s t r a t e g y f o r c h o o s i n g a n e w b a n k a n d o p e n i n g a n a c c o u n t . C o n s i d e r t h e f a c t o r s t h a t a r e i m p o r t a n t t o y o u i n s e l e c t i n g a b a n k - s u c h a s t h e t y p e a n d o w n…
Question list O Question 1 O Question 2 O Question 3 O Question 4 More Info N 1 2 3 4 5 6 7 8 9 10 To Find F Given P FIP 1.1200 1.2544 1.4049 1.5735 1.7623 1.9738 2.2107 2.4760 2.7731 3.1058 K 0.8929 0,7972 0.7118 0.6355 0.5674 0.5066 0.4523 0.4039 Most likely estimates for a project are as follows. 0.3606 0.3220 To Find P Given F PIF Choose the correct choice below. Determine whether the statement "This project (based upon the most likely estimates) is profitable." is true or false. ✔Click the icon to view the relationship between the PW and the percent change in parameter. Click the icon to view the interest and annuity table for discrete compounding when the MARR is 12% per year False O True To Find F Given A FIA 1.0000 2.1200 3.3744 4.7793 6.3528 8.1152 10.0890 12.2997 14.7757 17.5487 To Find P Given A PIA 0.8929 1.6901 2.4018 3.0373 3.6048 4.1114 4.5638 4.9676 5.3282 5.6502 To Find A Given F AIF 1.0000 04717 0.2963 0.2092 0.1574 0.1232 0.0991 0.0813 0.0877 0.0570 To Find A Given P…
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