29 Jun Question 1. The Embroidery Shoppe had beginnin
Question
1. The Embroidery Shoppe had beginning retained earnings of $18,670. During the year, the company reported sales of $83,490, costs of $68,407, depreciation of $8,200, dividends of $950, and interest paid of $478. The tax rate is 35 %. What is the retained earnings balance at the end of the year?
A. $21,883.25B. $22,193.95C. $22,833.24D. $23,783.24E. $30,393.95
2. Denbo’s, Inc. has total equity of $389,600, long-term debt of $116,400, net working capital of $1,600, and total assets of $627,600. What is the total debt ratio?
A. 0.19B. 0.38C. 0.67D. 1.49E. 3.85
3. Goshen Industrial Sales has sales of $828,900, total equity of $539,200, a profit margin of 4.6 %, and a debt-equity ratio of 0.55. What is the return on assets?
A. 3.89%B. 4.56 %C. 6.67%D. 12.86%E. 13.33%
4. You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn a 5 % rate of return and make no additional contributions, what will your account be worth when you retire in 35 years? What if you wait for 5 years before contributing?
A. $26,335.37; $23,011.60B. $27,311.20; $29,803.04C. $27,311.20; $22,614.08
D. $27,580.08; 21,609.71E. $31,241.90; $32,614.08
5. Turntable Industrial, Inc. owes your firm $138,600. This amount is seriously delinquent so your firm has offered to arrange a payment plan in the hopes that it might at least collect a portion of this receivable. Your firm’s offer consists of weekly payments for one year at an interest rate of 3 %. What is the amount of each payment?
A. $2,229.90B. $2,318.11C. $2,409.18D. $2,599.04E. $2,706.33
6. The Food Store is planning a major expansion for four years from today. In preparation for this, the company is setting aside $35,000 each quarter, starting today, for the next four years. How much money will the firm have when it is ready to expand if it can earn an average of 6.25 % on its savings?
A. $528,409.29B. $540,288.16C. $610,411.20D. $640,516.63E. $662,009.14
7. Kris will receive $800 a month for the next five years from an insurance settlement. The interest rate is 4 %, compounded monthly, for the first two years and 5 %, compounded monthly, for the final three years. What is this settlement worth to him today?
A. $36,003.18B. $38,219.97C. $41,388.71D. $43,066.22E. $45,115.16
8. Julie is borrowing $12,800 to purchase a car. The loan terms are 36 months at 7.5 % interest. How much interest will she pay on this loan if she pays the loan as agreed? Round your answer to the nearest whole dollar.
A. $1,338B. $1,414C. $1,459D. $1,506E. $1,534
9. Which one of the following statements is correct, all else held constant?
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.