Need accounting help?

1) Refer to Time Value of Money Tables. If a company wishes to accumulate $500,000 in 20 years at 5% by making equal yearly deposits into an account, calculation of the deposits is an application of the


future value of a single amount.


present value of a single amount.


future value of an annuity.


present value of an annuity.





2) On January 2, 2007, Williamson Construction, Inc. issued $500,000, 10-year bonds for $574,540. The bonds pay interest on June 30 and December 31. The face rate is 8% and the market rate is 6%.











Refer to Williamson Construction Inc. At the maturity date, besides an interest payment, Hi-Rise would repay the bondholders


$574,540


$520,000


$500,000


only the last interest payment





3) To determine whether a lottery winner would prefer to receive the money in a single lump sum immediately or receive an equal amount over a period of years, you would use which type of time value of money calculation?


The future value of a single amount


The present value of a single amount


The future value of an annuity


The present value of an annuity





4) Antonios Inc. has a weekly payroll of $8,000 for a 5-day workweek, Monday through Friday. If December 31, the last day of the accounting year, falls on Wednesday, Antonios would make an adjusting entry that would


increase wages expense $4,800.


decrease wages payable $4,800.


decrease cash $4,800.


increase wages payable $8,000





5) How much would have to be deposited in a savings account earning 6%, in order for equal annual withdrawals of $200 can be made at the end of each of 10 years? The balance at the end of the last year would be zero.


$ 528


$1,472


$2,000


$2,636





6) On January 2, 2007, Williamson Construction, Inc. issued $400,000, 10-year bonds. The bonds pay interest on June 30 and December 31. The face rate is 8% and the market rate is 6%. What amount of cash did the company receive for the sale of the bonds?


$400,000





$459,632


$458,720


$494,560|||1) Refer to Time Value of Money Tables. If a company wishes to accumulate $500,000 in 20 years at 5% by making equal yearly deposits into an account, calculation of the deposits is an application of the





future value of an annuity.








2) On January 2, 2007, Williamson Construction, Inc. issued $500,000, 10-year bonds for $574,540. The bonds pay interest on June 30 and December 31. The face rate is 8% and the market rate is 6%.











Refer to Williamson Construction Inc. At the maturity date, besides an interest payment, Hi-Rise would repay the bondholders





$500,000








3) To determine whether a lottery winner would prefer to receive the money in a single lump sum immediately or receive an equal amount over a period of years, you would use which type of time value of money calculation?





The present value of an annuity





4) Antonios Inc. has a weekly payroll of $8,000 for a 5-day workweek, Monday through Friday. If December 31, the last day of the accounting year, falls on Wednesday, Antonios would make an adjusting entry that would





increase wages expense $4,800. - $8,000 / 5 X 3 = $4,800





5) How much would have to be deposited in a savings account earning 6%, in order for equal annual withdrawals of $200 can be made at the end of each of 10 years? The balance at the end of the last year would be zero.





$1,472








6) On January 2, 2007, Williamson Construction, Inc. issued $400,000, 10-year bonds. The bonds pay interest on June 30 and December 31. The face rate is 8% and the market rate is 6%. What amount of cash did the company receive for the sale of the bonds?





$459,632 - I actually get $459,510, but this is the closest answer to that|||a


b


c


d


a


b