Otto Co. borrows money on April 30, 2016, by promising to make four payments of $29,000 each on November 1, 2016; May 1, 2017; November 1, 2017; and May 1, 2018. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

a. How much money is Otto able to borrow if the interest rate is 4%, compounded semiannually?

b. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually?

c. How much money is Otto able to borrow if the interest rate is 10%, compounded semiannually?

Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places.)

A promise to repay $93,000 five years from now at an interest rate of 9%.

An agreement made on February 1, 2016, to make three separate payments of $20,000 on February 1 of 2017, 2018, and 2019. The annual interest rate is 6%.

Use the following Income Statement and Balance Sheet of firm X to answers Questions (1) & (2)

Sales in 2017 are expected to grow at a rate of 9% with respect to the values of 2016. Assume the company pays out 55% of its net income.

1. Use the percent sales method to forecast the value of next year's stockholder's equity for firm X.

2. Use the percent sales to estimate the firm s net new financing for firm X.

For question 1 i know the answer is 2,931,366 and for question 2 i know the answer is -136,126. but how do i get those answers?

Problem 9-4A Accounts receivable transactions and bad debts adjustments LO C1, P2, P3

Liang Company began operations on January 1, 2016. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.

2016

Sold $1,347,400 of merchandise (that had cost $975,400) on credit, terms n/30.

Wrote off $20,900 of uncollectible accounts receivable.

Received $665,400 cash in payment of accounts receivable.

In adjusting the accounts on December 31, the company estimated that 2.70% of accounts receivable will be uncollectible.

2017

Sold $1,532,600 of merchandise (that had cost $1,269,300) on credit, terms n/30.

Wrote off $27,500 of uncollectible accounts receivable.

Received $1,248,700 cash in payment of accounts receivable.

In adjusting the accounts on December 31, the company estimated that 2.70% of accounts receivable will be uncollectible.

  
Required:
Prepare journal entries to record Liang’s 2016 and 2017 summarized transactions and its year-end adjustments to record bad debts expense. (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable.) (Round your intermediate calculations to the nearest dollar amount.)

Question (5)

Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at December 31, 2016, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following:

                                                                                                              Estimated Percentage

                                                                                                                       Uncollectible                                                                                       

         Current Accounts                                            $120,000                 1%

         1–30 days past due                                              20,000                 3%

         31–60 days past due                                            10,000                 6%

         61–90 days past due                                            10,000               12%

         Over 90 days past due                                           8,000               30%

         Total Accounts Receivable                             $168,000

Instructions

(a)   Prepare the adjusting entry on December 31, 2016, to recognize bad debt expense.

(b)   Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts.

(c)   Assume that the company has a policy of providing for bad debts at the rate of 1% of sales, that sales for 2016 were $550,000, and that Allowance for Doubtful Accounts had a $650 credit balance before adjustment. Prepare the adjusting entry for the current year's provision for bad debts.

Answer

Madhuri Ltd. gives you the following information for the year ended 31st March 2016: (a) Sales for the year totaled Rs.96,00,000. The company sells goods for cash only. (b) Cost of goods sold was 60% of sales. (c) Closing inventory was higher than opening inventory by Rs.43,000. (d) Trade creditors on 31st March 2016 exceeded those on 31st March 2015 by Rs.23,000. (e) Tax paid amounted to Rs.7,00,000. (f) Depreciation on fixed assets for the year was Rs.3,15,000 whereas other expenses totaled Rs.21,45,000. Outstanding expenses on 31st March 2015 and 31st March 2016 totaled Rs.82,000 and Rs.91,000 respectively. (g) New machinery and furniture costing Rs.10,27,500 in all were purchased. (h) A rights issue was made of 50,000 equity shares of Rs.10 each at a premium of Rs.3 per share. The entire money was received with applications. (i) Dividends totaling Rs. 4,00,000 were distributed among shareholders. (j) Cash in hand and at bank as of 31st March 2015 totaled Rs.2,13,800. You are required to prepare a cash flow statement using direct method.

Question # 3 — Production and Direct Materials Budgets
Walsh Company has budgeted the following unit sales for the first quarter of 2017:
Units
January 36,000
February 54,000
March 45,000

It takes two pounds of direct materials, which cost $6 per pound, to manufacture one unit of product. It is the company's policy to have a finished goods inventory on hand at the end of each month equal to 20% of next month's sales and to maintain a direct materials inventory at the end of the month equal to 30% of the next month's production needs. The inventory levels at December 31, 2016, were in accordance with company policy.

Instructions: Answer the following independent questions and show computations which support your answers.

1. What was the number of units in ending finished goods inventory at December 31, 2016?


2. Calculate the number of units that should be scheduled for production in the month of February.




3. What was the number of units in ending direct materials inventory at December 31, 2016?



4. What was the number of units and the dollar amount of direct materials purchases budgeted for the month of January?
 

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Abdul-Rahim Taysir

Consider a simple economy that produces two goods: pens and muffins. The following table shows the prices and quantities of the goods over a three-year period.

Use the information from the preceding table to fill in the following table.

From 2016 to 2017, nominal GDP decrease or increase , and real GDP decrease or increase

The inflation rate in 2017 was A- -25% B- 0.3%, C- 25%, D- 80%, E- 125%

Why is real GDP a more accurate measure of an economy's production than nominal GDP?

A) Real GDP includes the value of exports, but nominal GDP does not.

B) Real GDP is not influenced by price changes, but nominal GDP is.

C) Real GDP measures the value of the goods and services an economy produces, but nominal GDP measures the value of the goods and services an economy consumes.