1) At the end of each year you deposit $750 in a retirement account that pays 6%. How much money will you accumulate for your retirement if you plan to retire 30 years from now?

2) Starting today Andrew will deposit $2,000 per year in a retirement account that pays 6%. How much money will he accumulate for his retirement if he plans to retire 50 years from now?

3)  You are looking into an investment that will pay you $12,000 per year for the next 15 years. If you require a 7% return, what is the most you would pay for this investment today?

4) If today you pay $100,000 in exchange for a 20 year annuity with 10% return, what will be the annual cash flow?

5) You are buying a house for $180,000. Your bank will lend you the money at 6% for 20 years. How much will you have to pay every month?

6) An insurance company is trying to sell you an investment policy that will pay you and your heirs $50,000 per year forever. If the required return on the investment is 5%, how much will you pay for the policy?

The financial statements of Aimi Enterprise for the year ended 31 December 2018 are as follows:

Required:

1. Calculate the following ratios:

1. Current ratio
2. Quick ratio
3. Inventory turnover ratio
4. Average collection period
5. Gross profit margin
6. Net profit margin

2. Give interpretation for each of the above ratios

           (Total: 30 marks)

The net income reported on the income statement for the current year was $257,354. Depreciation recorded on fixed assets and amortization of patents for the year were $38,458 and $8,183, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

$323,056

$246,653

$264,794

$275,688

Prepare the journal entries for the following transactions.

1. DFC has total sales for the year of $2,256,000. Included in the total sales figure are $160,500 of cash sales. During the year, the firm received $2,052,000 of payments on account.  
2. During the year, the firm determined that accounts totaling $7,500 were uncollectible. Moreover, a $2,000 receivable written off during the year was subsequently collected. The $2,000 is not included in cash collections in “A.” above.
3. DFC uses the allowance method to record bad debts. Specifically, the firm uses the percentage of receivables method to compute the allowance for doubtful accounts. For the year ended May 31, 2020, DFC estimates the required allowance for doubtful accounts to be 8% of the gross accounts receivable balance at May 31, 2020.
4. DFC purchased $1,400,000 of additional inventory on account during the year. The purchases are charged to accounts payable. Total payments made on account for the year were $1,411,200. Inventory at May 31, 2020 totaled $117,000.

2. The following information is available for the Roots Heritage Corp. for the year ended Dec. 31, 2015:

Collection of principal on long term loan to a supplier …… ……………    $35,000

Purchase of equipment for cash …     ……………………………………    10,000

Proceeds from sale of long-term investment at book value ……………..     27,000

Issuance of common stock for cash ……………………………………..     20,000

Depreciation expense for the year   …………………………………           25,000

Redemption of bonds at carrying value     ………………………….            24,000

Payment of cash dividends ………………………………………………        9,000

Net income ……………………………………………………………….    30,000

Purchase of land by issuing bonds payable ………………………………   40,000

In addition, the following information is available from the comparative balance sheet for 2015 & 2014:

                                                                                                   2015                2014            

                                                Cash ………………………. $102,000         $ 14,000

                                                Accounts receivable (net) …     20,000             15,000

                                                Prepaid insurance …………       17,000             13,000

                                                Total current assets ……….   $139,000         $ 42,000

                                                Accounts payable …………   $ 25,000         $ 19,000

                                                Salaries payable …………..          4,000               7,000

                                                Total current liabilities ……   $ 29,000         $ 26,000

            Required: Prepare a statement of cash flows using the indirect method

You are to draw up THE Income Statement for the year ending 31 December 2012 and the Statement of Financial Position as at that date for the following trail balance of Partido Limited

Additional information at 31 December 2012

1. Stock 317,426/=
2. Business rates outstanding 1,700/= and office expenses outstanding 245/=
3. Dividend proposed is 15%.
4. Transfers to reserves; General 70,000/=, Fixed asset replacement 30,000/=
5. Depreciation on cost; Buildings 5%; Equipment 15%
6. Debenture interest for the year has not been paid.

In 2005, 5.9% of people used marijuana.

This year, a company wishes to use their employment drug screening to test a claim. They take a simple random sample of 2488 job applicants and find that 120 individuals fail the drug test for marijuana. They want to test the claim that the proportion of the population failing the test is lower than 5.9%. Use .05 for the significance level. Round to three decimal places where appropriate.

Hypotheses:

Ho:p=5.9%Ho:p=5.9%

H1:p<5.9%H1:p<5.9%

Test Statistic: z =

Critical Value: z =

p-value:

Conclusion About the Null:

• Reject the null hypothesis
• Fail to reject the null hypothesis

Conclusion About the Claim:

• There is sufficient evidence to support the claim that the proportion of the population failing the test is lower than 5.9%
• There is NOT sufficient evidence to support the claim that the proportion of the population failing the test is lower than 5.9%
• There is sufficient evidence to warrant rejection of the claim that the proportion of the population failing the test is lower than 5.9%
• There is NOT sufficient evidence to warrant rejection of the claim that the proportion of the population failing the test is lower than 5.9%

Do the results of this hypothesis test suggest that fewer people use marijuana? Why or why not?

: An Islamic family is tending to a gravely ill 85-year old family member in the intensive care unit. They have asked that the bed be oriented toward the east, toward Mecca, so the Imam may hear the confession of sin and request for forgiveness. To orient the bed toward the east would require disconnecting it from the wall unit, including the oxygen valve and monitors for the arterial line.

1. How should the nurse try to solve this problem?
2. Identify the various cultures each patient might belong to, in addition to race/ethnicity.
3. How does this patient's age and developmental stage affect your care of this patient?
4. How does this person's culture or ethnicity affect your care of this patient?
5. Does this person's culture, ethnicity or age have an affect or relationship to the diagnosis.

Monty Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method.

What is the cost of the asset being depreciated?

What amount, if any, was used in the depreciation calculations for the salvage value for this asset?

Which method will produce the highest charge to income in Year 1?

Which method will produce the highest charge to income in Year 4?

Which method will produce the highest book value for the asset at the end of Year 3?

If the asset is sold at the end of Year 3, which method would yield the highest gain (or lowest loss) on disposal of the asset?