Homework Answers
Facts of the Question:
|
Annual Contribution |
$ 75,300 |
|
Tenure |
11 years |
|
Annual Interest rate |
9% p.a. |
Answer)
Calculation of value of sinking fund at the end of 11 years
Maturity value of sinking fund = (Annual Contribution X Future value of Annuity of $ 1 at 9% rate of interest for 11 years)
= ($ 75,300 X 17.56029)
= $ 1,322,289.84
Therefore the value of sinking fund at the end of 11 years will be $ 1,322,289.84
Calculation of Future value of Annuity of $ 1 at 9% p.a. for 11 years:
|
Opening Balance |
Contribution |
Interest on Opening Balance |
Closing Balance |
|
- |
1 |
- |
1.00000 |
|
1.00000 |
1 |
0.09000 |
2.09000 |
|
2.09000 |
1 |
0.18810 |
3.27810 |
|
3.27810 |
1 |
0.29503 |
4.57313 |
|
4.57313 |
1 |
0.41158 |
5.98471 |
|
5.98471 |
1 |
0.53862 |
7.52333 |
|
7.52333 |
1 |
0.67710 |
9.20043 |
|
9.20043 |
1 |
0.82804 |
11.02847 |
|
11.02847 |
1 |
0.99256 |
13.02104 |
|
13.02104 |
1 |
1.17189 |
15.19293 |
|
15.19293 |
1 |
1.36736 |
17.56029 |
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund...
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund deposits of $75,300. The deposits are made at the end of each year into an account paying 9% annual interest cick here to view the factor table Future Value 1 Cick here to the factor table Future Value of an Annuity of 1 (For calculation purposes, se decimal places as displayed in the factor table provided.) What amount will be in the sinking fund...
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund...
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund deposits of $75,300. The deposits are made at the end of each year into an account paying 9% annual interest cick here to view the factor table Future Value 1 Cick here to the factor table Future Value of an Annuity of 1 (For calculation purposes, se decimal places as displayed in the factor table provided.) What amount will be in the sinking fund...
Hallo B I U a. Av obca v ili u A1 fx Amount B C D...
Hallo B I U a. Av obca v ili u A1 fx Amount B C D E F G 1 اهم الا Amount 2 20.50 3 14.63 23.77 29.96 6 29.49 7 32.70 8 9.20 9 20.89 10 28.87 11 15.78 12 18.16 13 12.16 14 11.22 15 16.43 16 17.66 17 9.59 18 18.89 19 19.88 20 23.11 21 20.11 22 20.34 23 20.08 24 30.36 25 21.79 26 21.18 27 19.22 28 34.13 29 27.49 30 36.55 31...
Answer question B only!. I add the other picture for you to make reference to. thanks...
Answer question B only!. I add the other picture for you to
make reference to. thanks alot
Problem 7-05A a-b (Part Level Submission) (Video) The bank portion of the bank reconciliation for Cullumber Company at October 31, 2020, is shown below. Cullumber Company Bank Reconciliation October 31, 2020 Cash balance per bank Add: Deposits in transit $12,167.90 1,330.20 13,498.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,060.40 484.20 644.50...
Question 4 --/1 View Policies Current Attempt in Progress Bates Company issued $1,200,000, 11-year bonds. It...
Question 4 --/1 View Policies Current Attempt in Progress Bates Company issued $1,200,000, 11-year bonds. It agreed to make annual deposits of $78,000 to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 11 years. The deposits are made at the end of each year into an account paying 7% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places...
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund deposits of $75,300. The deposits are made at the end of each year into an account paying 9% annual interest cick here to view the factor table Future Value 1 Cick here to the factor table Future Value of an Annuity of 1 (For calculation purposes, se decimal places as displayed in the factor table provided.) What amount will be in the sinking fund...
Brief Exercise G-4 Cullumber Company issued $1,300,000, 11-year bonds and agreed to make annual sinking fund deposits of $75,300. The deposits are made at the end of each year into an account paying 9% annual interest cick here to view the factor table Future Value 1 Cick here to the factor table Future Value of an Annuity of 1 (For calculation purposes, se decimal places as displayed in the factor table provided.) What amount will be in the sinking fund...
Hallo B I U a. Av obca v ili u A1 fx Amount B C D E F G 1 اهم الا Amount 2 20.50 3 14.63 23.77 29.96 6 29.49 7 32.70 8 9.20 9 20.89 10 28.87 11 15.78 12 18.16 13 12.16 14 11.22 15 16.43 16 17.66 17 9.59 18 18.89 19 19.88 20 23.11 21 20.11 22 20.34 23 20.08 24 30.36 25 21.79 26 21.18 27 19.22 28 34.13 29 27.49 30 36.55 31...
Answer question B only!. I add the other picture for you to
make reference to. thanks alot
Problem 7-05A a-b (Part Level Submission) (Video) The bank portion of the bank reconciliation for Cullumber Company at October 31, 2020, is shown below. Cullumber Company Bank Reconciliation October 31, 2020 Cash balance per bank Add: Deposits in transit $12,167.90 1,330.20 13,498.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,060.40 484.20 644.50...
Question 4 --/1 View Policies Current Attempt in Progress Bates Company issued $1,200,000, 11-year bonds. It agreed to make annual deposits of $78,000 to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 11 years. The deposits are made at the end of each year into an account paying 7% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places...
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