1) The balance sheet show them A) For a point ) For a period of c) For the Dj Since the company was established E) None 2) Which of the following is A) Dividends payable B) Income tax payable C) Accounts payable es receivables E) None 3) a business bill clients $130,000 for services performed during the year but collects y 5100.000 inches reported on the income statement will be A) $100,000 B) $30.000 C) $130,000 D) $50.000 E) None 4) a business incurs $70,000 of expenses associated with operating the business during the year, of which only 550.000 was paid in cash, expenses on the income statement will be DOD A) $20,000 B) $70,000 C) $50,000 D) $30,000 E) None ODO 5) a business reports revenues of $85,000 and expenses of $65.000 and had $70,000 cash received from customers and $50,000 cash payments for expenses, its cash flow from operating activities 86 DO 5. A) $25,000 B) $20,000 C) $15,000 D) $10,000 E) None 05.000 6) Gross profit DOO 000 A) is the excess of the cash received on sales over the cash paid for goods sold B) Represents the excess of net sales revenue over the cost of goods sold C) is the same as net income D) Equals revenues minus operating expenses GOOD E) None 220 7) Equipment purchased at an original cost of $6,000 has a book value of $2,800. What is the accumulated depreciation expense? A) $2800 B$3200 C) $3600 D) $4000 E) None 8) Given the following, calculate current ratio. Cash-$10000; Accounts Payable(Short-term}=$30000; Notes Payable(Short- term}=$10000; Accounts Receivable(Short-term)-$9000, Inventories=55000 10.000 A) 0.625 B) 0.34 C) 1.8 D) 0.975 E) None 30 OOO 9) At the beginning of the year, a corporation had $400,000 of common stock and $600,000 of retained earnings. During the year, the corporation issued $300,000 of additional common stock, eamed net income of $400,000, and paid cash dividends of $350,000. Total stockholders' equity at year end is. A) $ 1,450,000 B) $ 1,250,000 C) $ 1,350,000 D) $ 1,150,000 E) None PATA Clue the flame value of 510 000. Given that it will be invested for 7 years te of 3 percent (5 marks) Theodore Log Annual Interest Rate Compounding Periods Per Year (M) Compound Periods (Years Amount Deposited 5 1.100 96.000 7.000 122.000 32.000 17.000 10 Robinson ==== Kacavens 3 12 3 5 8 16 8 MANO 5 3 Calculate the amount of money that will be in each of the following accounts at the end of the given diegosit period Theodore Logan III (5 marks) & Tina Elliot (5 marks) c Kelly Cravens (5 marks) 3. How many years will it take for $490 to grow to $1051.49 if it's invested at 7 percent? compounded annually? (7 marks) 4. You are considering investing in a security that will pay you $2000 in 31 years. If the appropriate discount rate is 8 percent, what is the present value of this investment? (7 marks) 5. Assume an investments sell for $375 in return for which you receive $2000 in 31 years. What is the rate of return investors eam on this investment? (5 marks) b. At what annual interest rate, compounded annually, would $510 have to be invested for to grow to $1,946,97 in 15 years? (7 marks) PART B 6. Mr. Bill S. Preston, Esq., purchased a new house for $150 000. He paid $20 000 upfront and agreed to pay the rest over the next 15 years in 15 equal annual payments that includi