FIN 1103-3 FIN1103-3 Individual Week 2
FIN 1103-3 Individual Week 2
1. Scott Bennett is preparing his balance sheet and income and expense statement for the year ending June 30, 2016. He is having difficulty classifying six items and asks for your help. Which, if any, of the following transactions are assets, liabilities, income, or expense items?
3. Use future or present value techniques to solve the following problems.
4. Greg Fredericks wishes to have $ 800,000 in a retirement fund 20 years from now. He can create the retirement fund by making a single lump- sum deposit today.