A company paid the $1,350 premium on a three-year insurance policy on April 1 Year 1. The policy gave protection beginning on that date. How many dollars of the premium will appear as an expense on the annual income statement for the year ended December 31, Year 1, assuming the accrual basis of accounting is used? Assuming the cash basis of accounting is used?

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th?

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as

You need $87,000 in 12 years. required: if you can earn .54 percent per month, how much will you have to deposit today?