What should be the estate deficit, ending- July 31, 20x6? The Solid Company had a very unstable financial condition caused by a Deficiency of liquidassets. On February 20x6, the following information was available:CASH112,000Assets Not Realized:80,000160,000Accounts Receivable.Merchandise inventory-Investment in common stock26 400Land100,00060,000BuildingsMachinery and equipment48000Liabilities Not Liquidated:Notes PayableAccounts payableSalaries and WagesТахes payableBank loan244,000288,00040,0008,000180,000(173,600)Estate deficitDuring the six-month period ending July 31, 20x6, the trustee sold the investment in Commonstock for P26,000, realized P84,000 for the accounts receivable sold the merchandise forP12,000, and paid-off P26,000 of the bank loan and all liabilities with priorities (salaries, andwages payable, taxes payable) as well P7,440 for estate administration expenses. The estatedeficit, ending – (July 31, 20x6) should be:

Note:- 1 Cash Account Particulars Amount ($) Opening Balance…

The Solid Company had a very unstable financial condition caused by a Deficiency of liquid assets. On February 20x6, the following information was available: CASH 112,000 Assets Not Realized: Accounts Receivable.. 80,000 160,000 Merchandise inventory- Investment in common stock 26 400 Land Buildings Machinery and equipment 100,000 60,000 48000 Liabilities Not Liquidated: Notes Payable Accounts payable Salaries and Wages Taxes payable 244,000 288,000 40,000 8,000 180,000 (173,600) Bank loan Estate deficit During the six-month period ending July 31, 20x6, the trustee sold the investment in Common stock for P26,000, realized P84,000 for the accounts receivable sold the merchandise for P12,000, and paid-off P26,000 of the bank loan and all liabilities with priorities (salaries, and wages payable, taxes payable) as well P7,440 for estate administration expenses. The estate deficit, ending – (July 31, 20x6) should be:

The Solid Company had a very unstable financial condition caused by a Deficiency of liquid assets. On February 20x6, the following information was available: CASH 112,000 Assets Not Realized: Accounts Receivable.. 80,000 160,000 Merchandise inventory- Investment in common stock 26 400 Land Buildings Machinery and equipment 100,000 60,000 48000 Liabilities Not Liquidated: Notes Payable Accounts payable Salaries and Wages Taxes payable 244,000 288,000 40,000 8,000 180,000 (173,600) Bank loan Estate deficit During the six-month period ending July 31, 20x6, the trustee sold the investment in Common stock for P26,000, realized P84,000 for the accounts receivable sold the merchandise for P12,000, and paid-off P26,000 of the bank loan and all liabilities with priorities (salaries, and wages payable, taxes payable) as well P7,440 for estate administration expenses. The estate deficit, ending – (July 31, 20x6) should be:

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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question 5
17. What is the present value of a $5,500 perpetuity starting in a year's time, then growing by 4% per annum with a discount rate is 14%? A $55,000 B $50,000 C $37,500 D $44,650
Use the table below to answer the following questions: Present Value of 1 Factor Present Value of an Annuity of 1 Factor Period 1/2 Yr Full-Yr 1/2 Yr Full-Yr 1 0.9578 0.9174 0.9578 0.9174 2 0.9174 0.8417 1.8753 1.7591 3 0.8787 0.7722 2.7540 2.5313 4 0.8417 0.7084 3.5957 3.2397 5 0.8062 0.6499 4.4019 3.8897 6 0.7722 0.5963 5.1740 4.4859 Assumption: Required annual effective rate (EPR) of return is 9%. If an investment pays you $108,000 at the end of each year for 3 years, what is its present value? Group of answer choices $291,703 $273,380 $279,396 $250,193
10. A salesman earns P2,500 on the 1st month, P2,800 on the 2nd month, P3,100 on the 3rd month and so on. Find the accumulated amount of his income at the 15th month if money worth 18% compounded monthly. What is the final annuity? (2 decimal places, rounded off) What is the final gradient sum amount? (2 decimal places, rounded off) What is the final accumulated earning of the salesman? (use the answer in the previous question to solve, final answer must be 2 decimal places, rounded off)
Use the table below to answer the following questions: Present Value of an Annuity of 1 Future Value of an Annuity of 1 Period 4% 5% 8% 10% 4% 5% 8% 10% 4 3.6299 3.5460 3.3121 3.1699 4.2465 4.3101 4.5061 4.6410 5 4.4518 4.3295 3.9927 3.7908 5.4163 5.5256 5.8666 6.1051 6 5.2421 5.0757 4.6229 4.3553 6.6330 6.8019 7.3359 7.7156 7 6.0021 5.7864 5.2064 4.8684 7.8983 8.1420 8.9228 9.4872 8 6.7327 6.4632 5.7466 5.3349 9.2142 9.5491 10.6366 11.4359 9 7.4353 7.1078 6.2469 5.7590 10.5828 11.0266 12.4876 13.5795 10 8.1109 7.7217 6.7101 6.1446 12.0061 12.5779 14.4866 15.9374 11 8.7605 8.3064 7.1390 6.4951 13.4864 14.2068 16.6455 18.5312 Bobby gets a yearly alimony payment from his ex-wife and wants to saves enough to put a 15% down payment on a home in 4 years. Median…
3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum? A. Rs. 4462.50 В. Rs. 8032.50 C. Rs. 8900 D. Rs. 8925 E. None of these
8. What annuity is required over 12 years to equate with a future amount of 20,000? Assume i = 6% A. 4,185,54 B. 2,185.54 C. 3,185.54 D. 1.185.54
Following is a table for the present value of $1 at compound interest: Year 6% 10% 12% 1 0.943 0.909 0.893 0.890 0.826 0.797 3 0.840 0.751 0.712 4 0.792 0.683 0.636 0.747 0.621 0.567 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 12% 1 0.943 0.909 0.893 1.833 1.736 1.690 2.673 2.487 2.402 4 3.465 3.170 3.037 4.212 3.791 3.605 Using the tables provided, the present value of $13,265.00 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is O a. $47,820 Ob. $40,286 Oc. $31,863 Od. $13,265
Am. 409.
What is the present value of RM30,256 perpetuity per year discounted at 7%? Select one: a. RM432,228.57 b. RM321,000.90 c. RM245,973.11 d. RM451,980.32
Bill needs to determine the equivalent value in 1 quarter of a payment of $1200 due in 3.33 quarters. Money is worth 7% compounded semiannually. Select one: a. $1138.22 b. $1249.14 c. $1152.79 d. $1108.92
If 55 periodic payments per year for 18 years amount to 7,885 what is the annual rate?