Author Question: The ________ method of developing a pro forma balance sheet estimates values of certain balance ... (Read 130 times)

Anajune7 · **on:** Jul 10, 2018

The ________ method of developing a pro forma balance sheet estimates values of certain balance sheet accounts while external financing is used as a balancing, or plug, figure.

A) percent-of-sales
B) accrual
C) judgmental
D) cash

Question 2

If college tuition and fees increase at an annual rate of 7 per year, and your little sister is currently starting her freshman year in high school,

what is the expected cost of her first year of college in four years if tuition and fees are currently 6,850 per year? How much for the start of her senior year of college starting three years after that?
What will be an ideal response?

mfedorka · **Reply #1 on:** Jul 10, 2018

Answer to Question 1

C

Answer to Question 2

Answer: FV = PV (1 + r)n = 6,850 (1.07)4 = 8,978.95. Three years later the annual tuition cost is 10,999.60.