Racing Horse Corporation reported net income for 2010 of 200,000, sales of 540,000, expenses
(excluding depreciation) of 180,000, and depreciation expense of 60,000.
The company's accounts
receivable balance increased by 40,000 during the year and its accounts payable balance remained
the same. The company's change in cash for the year is estimated to be
A) 160,000. B) 220,000. C) 380,000. D) 100,000.
Question 2
You sell valuable artifacts from your household estate for 200,000 and want to use the money to
supplement your retirement. You receive the money on your 60th birthday, the day you retire.
You
want to withdraw equal amounts at the end of each of the next 25 years. What constant amount can
you withdraw each year and have nothing remaining at the end of 20 years if you are earning 7
interest per year?
A) 37,574 B) 28,318 C) 17,162 D) 49,113
Humans turning a horse loose so that it can run
Arabian horse
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