An investment will pay $21,500 at the end of the first year, $31,500 at the end...

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An investment will pay $21,500 at the end of the first year, $31,500 at the end of the second year, and $51,500 at the end of Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end

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Answer 1

Answer #1

1. Present value of the investment = 21500*0.9091+31500*0.8264+51500*0.7513

= $84269

2. Current liabilities = Accounts payable+ income tax payable+ liabilities for withholding taxes + rent rent collected in advance + wages payable+ property tax payable+ note payable+ interest payable

= 56000+14000+3000+7000+7000+3000+16000+800

= $106800

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Answer 2

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