If $1000 is deposited at the end of each year for 5 years into an ordinary annuity earning 7.59% compounded annually, construct a balance sheet showing the interest earned during each year and the balance at the end of each year.
Complete the balance sheet.
|
Period |
Amount |
Interest |
Balance |
|---|---|---|---|
|
1 |
$1000.00 |
|
|
|
2 |
$1000.00 |
|
|
|
3 |
$1000.00 |
|
|
|
4 |
$1000.00 |
|
|
|
5 |
$1000.00 |
|
|
(Round to the nearest cent as needed.)
In: Accounting
1. At the midpoint of the current year, a $16,000 check is given for land, and the buyer assumes the liability for unpaid taxes in arrears of $400 at the end of last year and those assessed for the current year of $360.
a. Determine the cost used for recording the land acquired.
| Cost of land | Answer |
b. Record the journal entry on the date of the land's
acquisition.
Note: Record your credit accounts in alphabetical
order using the first letter of the account name.
In: Accounting
A stock pays a dividend of $50 at the end of the first year, with each subsequent annual dividend being 5% greater than the preceding one. Mandy buys the stock at a price to earn effective annual yield of 10%. Immediately after receiving the 10th dividend, Mandy sells the stock for a price of P. Her effective annual yield over the 10-year period was 8%. Calculate P. (Answer $1,275.54)
In: Finance
A manager is looking at the number of sick days used by employees in a year.
H0: the average number is 8 or below
H1: the average is over 8
We know that the standard deviation of the number of sick days used by employees is 2, and we want to test at 10% significance level.
Say we took a random sample of 50 employees, and checked their records, and found that the average was 8.1
The manager figures that the critical value (z-sub-0.1) is 1.28.
What should be the decision?
| A. |
Employees are abusing their sick days |
|
|
B. Reject H0 |
||
|
C. We have insufficient information to make a decision |
||
|
D. Keep H0 |
In: Statistics and Probability
The revenues and expenses of Chickadee Travel Service for the year ended April 30, 2019, follow:
Fees earned $263,200
Miscellaneous expense 12,950
Office expense 63,000
Wages expense 131,700
Prepare an income statement for the year ended April 30, 2019.
In: Accounting
Assume that the one-year interest rate in the US is 4% and in the Eurozone is 6%. According to interest rate parity (IRP), What should the one-year forward premium or discount of the euro be (use of approximation is OK)? If the euro’s spot rate is $1.10, what should the one-year forward rate of the euro be?
In: Finance
Kinkaid Co. was incorporated at the beginning of this year and
had a number of transactions. The following journal entries
impacted its stockholders’ equity during its first year of
operations.
| General Journal | Debit | Credit | |
| a. | Cash | 310,000 | |
| Common Stock, $25 Par Value | 230,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 80,000 | ||
| b. | Organization Expenses | 190,000 | |
| Common Stock, $25 Par Value | 130,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 60,000 | ||
| c. | Cash | 43,000 | |
| Accounts Receivable | 18,000 | ||
| Building | 82,400 | ||
| Notes Payable | 59,800 | ||
| Common Stock, $25 Par Value | 53,600 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 30,000 | ||
| d. | Cash | 138,000 | |
| Common Stock, $25 Par Value | 77,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 61,000 | ||
Required:
2. How many shares of common stock are outstanding
at year-end?
3. What is the total paid-in capital at
year-end?
4. What is the book value per share of the common
stock at year-end if total paid-in capital plus retained earnings
equals $798,000? (include numerator and denominator for both)
part two
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
| Common stock—$25 par value, 100,000 shares authorized, 50,000 shares issued and outstanding |
$ | 1,250,000 | |
| Paid-in capital in excess of par value, common stock | 70,000 | ||
| Retained earnings | 400,000 | ||
| Total stockholders' equity | $ | 1,720,000 | |
During 2019, the following transactions affected its stockholders’
equity accounts.
| Jan. | 2 | Purchased 4,500 shares of its own stock at $20 cash per share. | ||
| Jan. | 5 | Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. | ||
| Feb. | 28 | Paid the dividend declared on January 5. | ||
| July | 6 | Sold 1,688 of its treasury shares at $24 cash per share. | ||
| Aug. | 22 | Sold 2,812 of its treasury shares at $17 cash per share. | ||
| Sept. | 5 | Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. | ||
| Oct. | 28 | Paid the dividend declared on September 5. | ||
| Dec. | 31 | Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. |
Required:
1. Prepare journal entries to record each of these
transactions.
2. Prepare a statement of retained earnings for
the year ended December 31, 2019.
3. Prepare the stockholders’ equity section of the
company’s balance sheet as of December 31, 2019.
part 3
At September 30, the end of Beijing Company’s third quarter, the
following stockholders’ equity accounts are reported.
| Common stock, $12 par value | $ | 360,000 |
| Paid-in capital in excess of par value, common stock | 100,000 | |
| Retained earnings | 320,000 | |
In the fourth quarter, the following entries related to its equity
are recorded.
| Date | General Journal | Debit | Credit |
| Oct. 2 | Retained Earnings | 70,000 | |
| Common Dividend Payable | 70,000 | ||
| Oct. 25 | Common Dividend Payable | 70,000 | |
| Cash | 70,000 | ||
| Oct. 31 | Retained Earnings | 79,000 | |
| Common Stock Dividend Distributable | 38,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 41,000 | ||
| Nov. 5 | Common Stock Dividend Distributable | 38,000 | |
| Common Stock, $12 Par Value | 38,000 | ||
| Dec. 1 | Memo—Change the title of the common stock | ||
| account to reflect the new par value of $4. | |||
| Dec. 31 | Income Summary | 250,000 | |
| Retained Earnings | 250,000 | ||
Required:
2. Complete the following table showing the equity
account balances at each indicated date.
In: Accounting
Put a JTextField in the north of the JFrame along with a JLabel that says: Year
Put a JSlider, vertically in the east side of the JFrame
Hints
Have typing in the TextField change the JSlider.
Hints
Add JRadioButtons with labels that are color names
Hints
In: Computer Science
The data show the population (in thousands) for a recent year of a sample of cities in South Carolina.
| 29 | 26 | 15 | 13 | 17 | 58 |
| 14 | 25 | 37 | 19 | 40 | 67 |
| 23 | 10 | 97 | 12 | 129 | |
| 27 | 20 | 18 | 120 | 35 | |
| 66 | 21 | 11 | 43 | 22 |
Source: U.S. Census Bureau.
Find the data value that corresponds to each percentile.
a. 40th percentile
b. 75th percentile
c. 90th percentile
d. 30th percentile
Using the same data, find the percentile corresponding to the given data value.
e. 27
f. 40
g. 58
h. 67
In: Math
There is a par 30 year, 6% bond. What is the % alteration, if the ytm alters by 2%? Do it with duration alone. Then, find the change, if you include convexity also. The convexity is 40.
Please show formula and show all work.
In: Finance