As of December 31, 2016, Cady Construction has one construction job for which the construction in progress (CIP) account has a balance of $20,000 and the billings on construction contract account has a balance of$14,000. Cady has another construction job for which the construction in progress account has a balance of $3,000 and the billings on construction contract account has a balance of$5,000. Indicate the amount of contract asset and/or contract liability that Cady would show in its December 31, 2016, balance sheet.

If Lana Fodor paid $825.80 on a$3,169.78 credit card balance, what is the new balance? A. $2,343.98 B.$3,995.58 C. $3,087.02 D.$2,546.98

If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has a balance of$36,000, what is the carrying value of the bonds?

On January 1, 2016, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2017. The only interest-bearing debt the company had outstanding during 2016 was long-term bonds with a book value of $10,000,000 and an effective interest rate of 8%. Construction expenditures incurred during 2016 were as follows: January 1$500,000 March 1 600,000 July 31 480,000 September 30 600,000 December 31 300,000. Required: Calculate the amount of interest capitalized for 2016.

Zero-balance account Union Company is considering establishment of a zero-balance account. The firm currently maintains an average balance of $420,000 in its disbursement account. As compensation to the bank for maintaining the zero-balance account, the firm will have to pay a monthly fee of$1,000 and maintain a $300,000 non–interest-earning deposit in the bank. The firm currently has no other deposits in the bank. Evaluate the proposed zero-balance account, and make a recommendation to the firm, assuming that it has a 12% opportunity cost.

Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. The interest rates are from national averages from www.bankrate.com in April 2013.

Thirty-year mortgage for $210,000 at 3.54%; remaining balance after 12 years

If the Bonds Payable account has a balance of $900,000 and the Discount on Bonds Payable account has a balance of$120,000, what is the carrying value of the bonds?

Pixel Copies recorded a cash collection on account by debiting Cash and crediting Accounts payable. What will the trial balance show for this error? a. Too much for cash b. Too much for liabilities c. Too much for expenses d. The trial balance will not balance

John has a balance of $3000 on his Discover card that charges 1% interest per month on any unpaid balance. John can afford to pay$100 toward the balance each month. His balance each month after making a $100 payment is given by the recursively defined sequence$B_{0}=$3000, \quad B_{n}=1.01 B_{n-1}-100$. Using a graphing utility, determine when John will pay off the balance. What is the total of all the payments?

The City of Bagranoff holds $90,000 in cash that will be applied to make a bond payment when the debt comes due early next year. The assistant treasurer initially made the decision to set this money aside for this purpose. Just before the end of the current year, the city council formally approved using the money in this way. The city council is the highest level of decision-making authority for this government. What impact does the council’s action have on the reporting of fund financial statements?
a. Fund balance—unassigned goes down and fund balance—restricted goes up.
b. Fund balance—assigned goes down and fund balance—committed goes up.
c. Fund balance—unassigned goes down and fund balance—assigned goes up.
d. Fund balance—assigned goes down and fund balance—restricted goes up.

Illustrate the given equation, $45=x+18$, with a balance-scale model. The number $45$ is on the left side of the balance scale. The unknown number is on the right side of the balance scale added to $18$.

Select the operation that will isolate the variable, and write that operation on your paper.

Given the following selected account balances of Delray Mfg., prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. Include a listing of the individual overhead account balances in this schedule.

$$\begin{matrix} \text{Sales} \ldots\ldots\ldots & \text{\$1,250,000} & \text{Repairs—Factory equipment} \ldots\ldots\ldots & \text{\$ 5,250}\\ \text{Raw materials inventory, Dec. 31, 2016} \ldots\ldots\ldots & \text{37,000} & \text{Rent cost of factory building}\ldots\ldots\ldots & \text{57,000}\\ \text{Work in process inventory, Dec. 31, 2016} \ldots\ldots\ldots & \text{53,900} & \text{Advertising expense} \ldots\ldots\ldots & \text{94,000}\\ \text{Finished goods inventory, Dec. 31, 2016}\ldots\ldots\ldots & \text{62,750} & \text{General and administrative expenses}\ldots\ldots\ldots & \text{129,300}\\ \text{Raw materials purchases} \ldots\ldots\ldots & \text{175,600} & \text{Raw materials inventory, Dec. 31, 2017} \ldots\ldots\ldots & \text{42,700}\\ \text{Direct labor} \ldots\ldots\ldots & \text{225,000} \ldots\ldots\ldots & \text{Work in process inventory, Dec. 31, 2017} \ldots\ldots\ldots & \text{41,500}\\ \text{Factory computer supplies used} \ldots\ldots\ldots & \text{17,840} & \text{Finished goods inventory, Dec. 31, 2017}\ldots\ldots\ldots & \text{67,300}\\ \text{Indirect labor} \ldots\ldots\ldots & \text{47,000}\\ \end{matrix}$$

An investor deposits $\$10,000$ in an account that earns $3.5\%$ interest compounded quarterly. The balance in the account after $n$ quarters is given by

$$An=10000(1+0.035/4)^n, n=1, 2, 3, . . .$$

Is the balance after $20$ years twice the balance after $10$ years? Explain.

Scott Roan.
Previous balance: $2161.41.
Interest:$20.04.
Deposits: $345 and$575.80.
Withdrawals: $210 and$945.
What is his new balance?