Marie opened a Printing shop by investing P200,000 out of her P300,000 pension. She also borrowed from UCPB another P200,000 for use in the business. With this, she bought a copying machine for P350,000 and supplies for P20,000. The remaining P30,000 she set aside for the operating needs of the business. For June, she received P48,000 from the customers for reproduction work and paid P5,000 for rent and P3,000 for power and water. Of the supplies bought 40% were used up. Continue with the Marie illustration. The following transactions took place for the month of July. Sales amounted to P52,000. Paper and ink were purchased and paid for 20,000. Total supplies available amounted to P32,000, half of these were used up. The monthly rent was again paid. Power and water were paid but it increased by P2,000. Marie made a P3,000 cash withdrawal. She paid her UCB loan for P50,000. REQUIRED: How much is Marie's Capital on July 31?

At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?

You want to buy a car.  A dealership in town has the SUV you want to buy for $22,510.  Your first financing option is to make a down payment of $2500 and finance the rest at 2.99% APR for 72 months. How much will you be financing?  $  How much will your monthly payments be under this financing option?  (Round to the nearest dollar.)  $  How much total money will you pay for the SUV at the end of the 72 months under this financing option?  (Don't forget to include your down payment in this total amount.) $

1 Ann and Sue sell their recreation property. They make $245,000 on the sale and deposit it immediately into a retirement fund. The fund earns 2.45%, compounded monthly, for the entire time. Exactly ten years after the sale, Ann retires. They now want to start supplementing their income with payments from the retirement fund. They want the payments to start one month after Ann retires. They want these payments to last for 5 years. How much can they withdraw per month from the retirement fund? (ANNUITY)

a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?

Rita is keen to grow her business and provided some information on two transactlons that she undertook during the year. The first was the purchase of an individual asset for the business called a Techpager. wwym ww The initial cost of the machine itself was $32,000 with several extra required fees and charges. Rita also decided to include a number of optional extras in the purchase. Installation of Techpager $1500 Transportation and Shipping Costs $600 Extended Warranty/Service Program $300 per year. This is an optional service offered by the company that covers all maintenance and repairs costs and is paid annually in advance Sorting and Stapling Unit $1200 (required to allow Rita to produce the booklets for her business) Custom Painting $400 (Rita does not need to have this done but has decided she wants the machine to match her office décor) Insurance $500 per year payable in advance Prepare a general Journal entry to record the individual of the purchase business called Techpager.

Rob borrowed $5,800 from Richard and signed a contract agreeing to pay it back 10 months later with 4.55% simple interest. After 3 months, Richard sold the contract to Chris at a price that would earn Chris 5.00% simple interest per annum. Calculate the price that Chris paid Richard.

Noor Patel has had a busy year! She decided to take a cross-country adventure. Along the way, she won a new car on The Price Is Right (valued at $14,600) and $500 on a scratch-off lottery ticket (the first time she ever played). She also signed up for a credit card to start the trip and was given a sign-up bonus of $100. How much from these will she have to include in her federal taxable income?

Yolanda is a cash basis taxpayer with the following tranasctions during the year: Cash received from sales of products       $70,000 Cash paid for expenses (except rent and interest) $40,000 Rent prepaid on a leased building for 18 monts beginning December 1 $48,600 Prepaid interest on a bank loan, paid on December 31 for the next 3 months 5,000 Calculate Yolanda's income from her business for this calendar year.

Talbot purchases business machinery for a price of $100,000. Talbot pays the seller $20,000 in cash and finances the rest by giving the seller a note for $80,000. What is Talbot’s initial basis in this machinery?