Paulsen Corp acquired 70% of the voting common stock of Shipley Stores at book value equal to fair value several years ago. Paulsen manufactures home furnishings which are sold at a standard markup to department stores, as well as to its own outlet shop, Shipley Outlet Stores. Separate incomes of Paulsen and Shipley for 2013 are follows: Paulsen Shipley Sales $ 800,000 $ 500,000 Cost of Sales $ 500,000 $ 300,000 Gross Profit $ 300,000 $ 200,000 Intercompany sales from Paulsen to Shipley for 2012 and 2013 are summarized as follows: Selling Price Unsold at year-end $375,000 40% 50% Cost Intercompany sales 2012 $ 300,000 Intercompany sales 2013 $ 200,000 $250,000

The following information is provided for the first month of operations for Legal Services Inc.: A. The business was started by selling $103,000 worth of common stock. B. Six months' rent was paid in advance, $4,100. C. Provided services in the amount of $1,500. The customer will pay at a later date. D. An office worker was hired. The worker will be paid $277 per week. E. Received $520 in payment from the customer in "C". F. Purchased $300 worth of supplies on credit. G. Received the electricity bill. We will pay the $120 in thirty days. H. Paid the worker hired in "D" for one week's work. I. Received $130 from a customer for services we will provide next week. J. Dividends in the amount of $1,800 were distributed. Prepare the necessary journal entries to record these transactions. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. A. B. 111

How to solve:S= 1/1.06[1-1/(1.06)^20]/1-1/1.06

Calculate: 1 1 (1+ r)" х 30 where r=0.093, and n=16