All note payments include interest. Requirements: A. Record the 1/1/14 transaction for Fishbone Corporation and all necessary entries from 2014-2016, B. Record the 1/1/14 transaction for Lost Company and all necessary entries from 2014-2016. 1. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250.000 and that had accumulated depreciation of $100.000 on the date of sale. Fishbone received as consideration a $240,000 non- interest-bearing note due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1. 2014, was 690 Iyet ole 2. On January 1, 2014. Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5% 3. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a 5% interest bearing note requiring payments of $80,0000 annually for 3 years. The first note payment is to be made on January 1. 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 4. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a non-interest-bearing note requiring payments of $80.000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 5. On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of S100,000 on the date of sale. Fishbone received as consideration a 5% interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5% 6. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 7. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of S100,000 on the date of sale. Fishbone received as consideration a non-interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on January 1, 2014 The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 8. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a 5% interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. Nicot 1 ) .. 2015 15 12 58 122 TABLE PRESENT AVEO LE ENT 2 PIET HT CINE M VJ 11 TE LIGEN CH XENIRS 4 SHI M WE wTE HH 74 MU US NO 4 CO TE TUT 17 10m I. 14 ST DOWE SIER ES RS WIEDE TOOF II MIC SER WAKT 7 OR RU 316 Chapter Acting and the Time Value of Money TABLE PRESENT VALUE OF PRESENT VALUE OF A LINOLE SUS W WE NE ST 0420 V GRM w BEEN PG WE 06 ONE W SE -1000 SEINE WRZES T22 TA 360 MU 77005 . WOLLE . 24 5010 WE MAR . VAS MO D 99 00 KO 400 ASSA DE TO 880 12 1954 . 1000 500 PL ST LE I OCERY LIN 2 LES 2001 1811 SHEE WOLLE > DO ME NOCY 17 41552 3034 S700 PET LOF RE WIE w 33755 CRY 361 29412 w 114 Chapter Acord the The Valeny TALE FULL OF THE VALUE ON A MINOLEUM n NE 10000 1. 1.1 LE IT 1.1200 . . OURCE WiFi L NERE ww 120 CE HOME NE 0 LE ONE 11 GE WI RE 1 w sun WO LI 1. H I WE DET TS 1 HO DER NEAR DOME . NEG WER TI 21 CHE w TE 177 09041 2.00 1. 3.250 BOITE WS 2.42 2.000 1975 O 100Z WORE WWE OS 3.500 CE C 22261 CITES RE CE WEE 2. 2. USE 200155 M NE SIR E OT CE SOFT BRO IE IES w MORE Future Value of 1315 TABLE, ENTRE ALUE OF IN Pero NI son 1.100 BO 1.100 DET 0001 11010 i LO CEOVI NO LOVE 141 1.500 14641 16101 1.97150 1. 1. + 5 CI 1.6 1 TENTO 03470 WEPO COOP 020 0 017 0 si 01234 an DOS 2012 DOST GEO 318 Chapter Accounting and the Time Value of Money TABLE 3 FUTURE VALUE OF AN ORDINARY ANNUITY OF 74 Periode C N ES 1.000 1.00000 1 2 ZA DOGO 2.000 2.0 10000 2.09000 45 100000 2.04000 312100 4.20548 1000 2.05000 E 1060 612161 4 3.000 418353 630014 21590 ca 3.1030 43 4.159 5 520404 2012 TA 314 46841 70240 2 7. 7832 6.80191 14201 e 358297 8.8214 189747 6.7312 AS 9.2147) to 2011 . 9.25453 10.15911 1140132 10 1004072 11.20330 130 12,16572 1341205 E 11.2017 12.46147 13.9566 15.14044 12.0780 54.79200 3.4M) 102561 NO 1691713 16.00 13 1403 11 21296 15.01779 1702 1688214 2101507 14 15.87394 16 10. 2001 20.023be 172342 17.500 21.5 10 17 18.63123 25,07253 2012 20.01207 1.36092 20673 22 22.14001 20.156 21.26159 23.41444 25.116.67 26.7037 236749 264047 28.73230 21.41231 21 2450 23.9251 25.84541 2747123 207710 1000 339 25 DOS 20 2429737 25.4 25.76012 33.93273 ZINT 20.8.200 217618 0.53611 31.000 34.247 35.7180 38.2 WTORE 056445 41.43041 46.90 36.17 39.00 30.42100 324528 34.42547 36.450 x204 445029 508155 3203030 15778 61.64501 47.721 540451 NR RR 26 33.67091 38.01171 3791200 38.55354 40.70963 51.11145 54.56813 63.70571 2011 3705121 42.99092 4431174 4708421 49.96756 52.90023 56.08494 30.85000 41.650 SAGS 36.225 4521855 73.63160 40.56600 43.90270 47 ST542 16.4MAS 79,05819 21 32 4237144 4422703 50,00 52.50276 5930834 62.70147 7078070 75. 14.01 0.97 33 461117 00007 68.15021 5035403 52.81280 56,92021 55.7784 NT 34310 14 40.00380 57.2016 85.000 104.18376 09.85791 73.85222 36 49.9944 60.46200 0.120 1113178 36 31 5.ST 54.03425 11411 57.30141 58.73335 da 27544 16.17422 0.15045 TIS 11,70225 04 15.83532 101.14 110.1708/ 127.2012 135,90421 8222730 39 56.723724 07 72 23423 107.000 11400500 120.79977 10.06648 154.76131 O ADV 67 A09:55 76.40120 05.02462 Future Value of an ordinary Annuity of 1310 TABLES FUTURE VALUE OF AN ORGARYANTO 0% 100000 10 133 w Perhe M 100000 2.000 324040 4.500 327810 47 5978 10000 211000 334910 4707 2. 1000 1000 464100 610510 2 100000 2.15000 3472 2.2000 137440 4.77903 35 WS 6.71339 4 5 7.71000 90 73000 9200 10.036 12.45 TA 2.20044 11.00047 200104 Y 7812 878321 11,8565 14,5 15.72201 6.1919 101 12.90 14 17 54324 +35 15 0743 8.75914 11.000 1373600 16.78 203002 10 16.5454 TE T13 2149520 24 2140 27.152-11 17 20.54012 22.050 2009019 29002 18.53117 213420 24.22 27:97890 2177248 22.71319 26.21164 20.0142 3440 20.65456 2013913 26.62911 20200 31.27972 24. M 20:00167 3435150 40.50471 47.58041 11 12 13 14 30.32425 23.750223 W.45004 414420 13.00-140 367371 4130134 46.01140 51,10012 355973 45.54470 45 S11 1.15000 377500 1006 4450084 505050 6.33445 620269 49.732 4. 35.74972 490 72.05044 55.71747 65.67509 75,83836 10 17 18 19 814 21 22 5042252 5545675 0.89330 66,76476 73.10 56.76459 62,87334 6853194 7676 14.70000 64.00250 71 40275 79.544.300 88.43733 984700 72.26514 2011 017 102.17415 MA41031 104.000 1165544 33.33387 1012 137.63 15027838 1840754 212 10 25 127 CELE OSU 30 79.95442 8735077 36.3363 1036594 11324321 90.32310 302.72314 112.00 124.13536 13630754 109.10177 121.0999 104.2004 108.630 164ADOR 150.8178 178.3979 190.0980 25451275 24133 3507 10400 STT 434.14515 27 20 20 1234582 31 32 149.57522 1640 17.02 198234 215.7107 134.21354 145 95062 ISROS? 172.3160 181,0433 2011 2202164 245 TO 271.00037 221.151 24732 2756 STA 141,5 2712001 39484772 ZAS 35450 OS 09 57710046 544. 76530535 001.17016 CE M 35 30 33 187.70215 200.000 220 31595 2384122 24005652 212472 3533745 0278 309.06648 337 BNS 28.12001 33363940 364.04343 401411 46250 36.641 0200219 40 1000 23.20473 ST 45445312 55100 60.83 684.01000 7670916 1014. 1187AOTS 1343.210 1546.10540 1779.00 40 320 Chapter 6 Accounting and the Time Value of Money TABLE 64 PRESENT VALUE OF AN ORDINARY ANNUITY OE 1 Pv0.11 Period 22% 3% All note payments include interest. Requirements: A. Record the 1/1/14 transaction for Fishbone Corporation and all necessary entries from 2014-2016, B. Record the 1/1/14 transaction for Lost Company and all necessary entries from 2014-2016. 1. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250.000 and that had accumulated depreciation of $100.000 on the date of sale. Fishbone received as consideration a $240,000 non- interest-bearing note due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1. 2014, was 690 Iyet ole 2. On January 1, 2014. Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5% 3. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a 5% interest bearing note requiring payments of $80,0000 annually for 3 years. The first note payment is to be made on January 1. 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 4. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a non-interest-bearing note requiring payments of $80.000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 5. On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of S100,000 on the date of sale. Fishbone received as consideration a 5% interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5% 6. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 7. On January 1, 2014. Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of S100,000 on the date of sale. Fishbone received as consideration a non-interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on January 1, 2014 The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. 8. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a 5% interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on December 31, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%. Nicot 1 ) .. 2015 15 12 58 122 TABLE PRESENT AVEO LE ENT 2 PIET HT CINE M VJ 11 TE LIGEN CH XENIRS 4 SHI M WE wTE HH 74 MU US NO 4 CO TE TUT 17 10m I. 14 ST DOWE SIER ES RS WIEDE TOOF II MIC SER WAKT 7 OR RU 316 Chapter Acting and the Time Value of Money TABLE PRESENT VALUE OF PRESENT VALUE OF A LINOLE SUS W WE NE ST 0420 V GRM w BEEN PG WE 06 ONE W SE -1000 SEINE WRZES T22 TA 360 MU 77005 . WOLLE . 24 5010 WE MAR . VAS MO D 99 00 KO 400 ASSA DE TO 880 12 1954 . 1000 500 PL ST LE I OCERY LIN 2 LES 2001 1811 SHEE WOLLE > DO ME NOCY 17 41552 3034 S700 PET LOF RE WIE w 33755 CRY 361 29412 w 114 Chapter Acord the The Valeny TALE FULL OF THE VALUE ON A MINOLEUM n NE 10000 1. 1.1 LE IT 1.1200 . . OURCE WiFi L NERE ww 120 CE HOME NE 0 LE ONE 11 GE WI RE 1 w sun WO LI 1. H I WE DET TS 1 HO DER NEAR DOME . NEG WER TI 21 CHE w TE 177 09041 2.00 1. 3.250 BOITE WS 2.42 2.000 1975 O 100Z WORE WWE OS 3.500 CE C 22261 CITES RE CE WEE 2. 2. USE 200155 M NE SIR E OT CE SOFT BRO IE IES w MORE Future Value of 1315 TABLE, ENTRE ALUE OF IN Pero NI son 1.100 BO 1.100 DET 0001 11010 i LO CEOVI NO LOVE 141 1.500 14641 16101 1.97150 1. 1. + 5 CI 1.6 1 TENTO 03470 WEPO COOP 020 0 017 0 si 01234 an DOS 2012 DOST GEO 318 Chapter Accounting and the Time Value of Money TABLE 3 FUTURE VALUE OF AN ORDINARY ANNUITY OF 74 Periode C N ES 1.000 1.00000 1 2 ZA DOGO 2.000 2.0 10000 2.09000 45 100000 2.04000 312100 4.20548 1000 2.05000 E 1060 612161 4 3.000 418353 630014 21590 ca 3.1030 43 4.159 5 520404 2012 TA 314 46841 70240 2 7. 7832 6.80191 14201 e 358297 8.8214 189747 6.7312 AS 9.2147) to 2011 . 9.25453 10.15911 1140132 10 1004072 11.20330 130 12,16572 1341205 E 11.2017 12.46147 13.9566 15.14044 12.0780 54.79200 3.4M) 102561 NO 1691713 16.00 13 1403 11 21296 15.01779 1702 1688214 2101507 14 15.87394 16 10. 2001 20.023be 172342 17.500 21.5 10 17 18.63123 25,07253 2012 20.01207 1.36092 20673 22 22.14001 20.156 21.26159 23.41444 25.116.67 26.7037 236749 264047 28.73230 21.41231 21 2450 23.9251 25.84541 2747123 207710 1000 339 25 DOS 20 2429737 25.4 25.76012 33.93273 ZINT 20.8.200 217618 0.53611 31.000 34.247 35.7180 38.2 WTORE 056445 41.43041 46.90 36.17 39.00 30.42100 324528 34.42547 36.450 x204 445029 508155 3203030 15778 61.64501 47.721 540451 NR RR 26 33.67091 38.01171 3791200 38.55354 40.70963 51.11145 54.56813 63.70571 2011 3705121 42.99092 4431174 4708421 49.96756 52.90023 56.08494 30.85000 41.650 SAGS 36.225 4521855 73.63160 40.56600 43.90270 47 ST542 16.4MAS 79,05819 21 32 4237144 4422703 50,00 52.50276 5930834 62.70147 7078070 75. 14.01 0.97 33 461117 00007 68.15021 5035403 52.81280 56,92021 55.7784 NT 34310 14 40.00380 57.2016 85.000 104.18376 09.85791 73.85222 36 49.9944 60.46200 0.120 1113178 36 31 5.ST 54.03425 11411 57.30141 58.73335 da 27544 16.17422 0.15045 TIS 11,70225 04 15.83532 101.14 110.1708/ 127.2012 135,90421 8222730 39 56.723724 07 72 23423 107.000 11400500 120.79977 10.06648 154.76131 O ADV 67 A09:55 76.40120 05.02462 Future Value of an ordinary Annuity of 1310 TABLES FUTURE VALUE OF AN ORGARYANTO 0% 100000 10 133 w Perhe M 100000 2.000 324040 4.500 327810 47 5978 10000 211000 334910 4707 2. 1000 1000 464100 610510 2 100000 2.15000 3472 2.2000 137440 4.77903 35 WS 6.71339 4 5 7.71000 90 73000 9200 10.036 12.45 TA 2.20044 11.00047 200104 Y 7812 878321 11,8565 14,5 15.72201 6.1919 101 12.90 14 17 54324 +35 15 0743 8.75914 11.000 1373600 16.78 203002 10 16.5454 TE T13 2149520 24 2140 27.152-11 17 20.54012 22.050 2009019 29002 18.53117 213420 24.22 27:97890 2177248 22.71319 26.21164 20.0142 3440 20.65456 2013913 26.62911 20200 31.27972 24. M 20:00167 3435150 40.50471 47.58041 11 12 13 14 30.32425 23.750223 W.45004 414420 13.00-140 367371 4130134 46.01140 51,10012 355973 45.54470 45 S11 1.15000 377500 1006 4450084 505050 6.33445 620269 49.732 4. 35.74972 490 72.05044 55.71747 65.67509 75,83836 10 17 18 19 814 21 22 5042252 5545675 0.89330 66,76476 73.10 56.76459 62,87334 6853194 7676 14.70000 64.00250 71 40275 79.544.300 88.43733 984700 72.26514 2011 017 102.17415 MA41031 104.000 1165544 33.33387 1012 137.63 15027838 1840754 212 10 25 127 CELE OSU 30 79.95442 8735077 36.3363 1036594 11324321 90.32310 302.72314 112.00 124.13536 13630754 109.10177 121.0999 104.2004 108.630 164ADOR 150.8178 178.3979 190.0980 25451275 24133 3507 10400 STT 434.14515 27 20 20 1234582 31 32 149.57522 1640 17.02 198234 215.7107 134.21354 145 95062 ISROS? 172.3160 181,0433 2011 2202164 245 TO 271.00037 221.151 24732 2756 STA 141,5 2712001 39484772 ZAS 35450 OS 09 57710046 544. 76530535 001.17016 CE M 35 30 33 187.70215 200.000 220 31595 2384122 24005652 212472 3533745 0278 309.06648 337 BNS 28.12001 33363940 364.04343 401411 46250 36.641 0200219 40 1000 23.20473 ST 45445312 55100 60.83 684.01000 7670916 1014. 1187AOTS 1343.210 1546.10540 1779.00 40 320 Chapter 6 Accounting and the Time Value of Money TABLE 64 PRESENT VALUE OF AN ORDINARY ANNUITY OE 1 Pv0.11 Period 22% 3%