Author Question: A firm plans to depreciate a five year asset in the next planning period. The statements that will ... (Read 72 times)

vHAUNG6011 · **on:** Jul 10, 2018

A firm plans to depreciate a five year asset in the next planning period. The statements that will be directly affected are the ________.

A) pro forma income statement, pro forma balance sheet, and cash budget
B) pro forma balance sheet, cash budget, and statement of retained earnings
C) cash budget and pro forma balance sheet
D) pro forma income statement and pro forma balance sheet

Question 2

Upon taking his first job out of college, your Dad earned an annual salary of 38,000 and set a goal to earn 100,000 per year. If his salary increased at an average annual rate of 12, how long did it take to reach his goal?

A) At that rate of growth, your Dad still has not earned 100,000 in a single year.
B) 2.63 years
C) 26.31 years
D) 8.54 years

Ashley I · **Reply #1 on:** Jul 10, 2018

Answer to Question 1

D

Answer to Question 2

Answer: D
Explanation: D) n = = = 8.54 years
MODE = END
INPUT ? 12 -38,000 0 100,000
KEY N I/Y PV PMT FV
CPT 8.54