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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Please Solve In 20mins

Transcribed Image Text:5. Alice purchased a new Ford truck for the business. The truck cost $28,750 + tax. Green Tree
Landscapes made a down payment of $2875.00. They're financing the rest of the cost. They've
received a loan for the remainder amount from Ford (Tip: setup Ford as a supplier). Setup the
accounts to track the original cost and depreciation of the new asset. Write a cheque to pay for
the asset (Tip: record the loan on the cheque). Use the next cheque # in order. Make the entry
on the 24th of last month.
This is for QuickBooks. I am not so worried about
the account name but more of the account type
and if it is increasing with credit or debit so I can be
sure I am setting this up correctly before I submit it.
I realize it says cheque. For those who can't tell this
question came from a Candian based resource. It
just means a check. I have no accounts set up yet
either.
Expert Solution

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- Suppose A=D+E, E=$350,000 and E/A=0.7. Solve for D.arrow_forwardDetermine the present value of the following single amounts. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Determine the present value of the following single amounts. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) 1. 2. 3. 4. Future Amount $ 25,000 $ 19,000 $ 30,000 $ 45,000 ¡= 6% 10% 12% 11% n = 11 14 29 10 Present Valuearrow_forwardDetermine the future value of the following single amounts. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) 1. 2. 3 4. Invested Amount 15,000 20,000 30,000 50,000 $ $ $ U $ i = 6% 8% 12% 4% n = 12 10 20 12 Future Valuearrow_forward
- 500 Calculate the value of X to suit this cash flow diagram with i = 9%. X is an end of period payment. Provide modified cash flow diagram(s) necessary for your solution, and show all work. 400 300 200 100 2.arrow_forwardCalculate I/YR with: PV = $1,750.22 FV = $1,000 N = 5 PMT = $80 pleasearrow_forward
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