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Questions -
a. Kristen deposits $1,000 into a GIC paying 4% per annum. What is the future value of the GIC if it is left untouched for 5 years?
b. Stacey and Steven will need $20,000 to pay for their wedding in 3 years' time. They can earn a return of 3% per annum. How much will they need to deposit in a lump sum amount today (present value) so that they will have the funds needed to pay for the wedding?
c. Every year end, Triton invests $3,000 in Canadian growth stocks via his mutual fund for retirement savings. If Triton averages a 10% annual return and plans to retire 30 years from now, how much will he have in his mutual fund at retirement? (Solve for future value of an annuity.)
d. Tim is 25 years old and plans to retire at age 65. He wishes to have a $500,000 lump sum available at retirement to cover annual living expenses beyond his pension income. If Tim invests in the stock markets and receives an average return of 9% per annum, how much would he have to deposit each year to save up the desired $500,000?
Current assets consist of $1,600 in cash, $15,700 in accounts receivable, and $42,900 in inventory. Accounts payable are $11,300. What is firm enterprise value
On December 31, 2016, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $12 million. The business segment qualifies as a component of the entity according to GAAP. Prepare the lower port..
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Concord sold the Sigma shares for $35.27 per share. Prepare Concord Corporation's journal entry to record the purchase of the investment
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At the beginning of 20X4, owners' equity for Riot Act Ltd. was $11,000. Riot Act's profit after tax for 2004 was $3,000, out of which they paid a dividend of $1, 800. During 20X4 Riot Act also issued $2,000 worth of shares. Riot Act's owners' equity ..
What amount should Thank Company report in its profit or loss from its investment in God Company for the year ended December 31, 2020
Motor vehicle service technicians usually must provide their own tools as part of their employment. These tools are the property of the technician, and service technicians generally receive an hourly wage. Some automobile dealerships split service te..
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Prepare general journal entries (narations are required) to record the balance-day adjustment if on the year end reporting date four days wages were owing
XYZ Manufacturing company has been producing cheese for the local market over the last 20 years. Direct materials price variance, Direct materials quantity
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