1) A company has $50,000 today to invest in a fund that will earn 7%. How much will
the fund contain at the end of 8 years?
2) _________________ is net income divided by average total assets.
3) Describe the posting process for special journals.
4) A ________________________ is a potential obligation that depends on a future
event arising from a past transaction or event.
5) Noncash financing and investing activities are disclosed in the ____________ or in a
separate ____________________________.
6) A company produces two joint products (called 101 and 202) in a single operation
that uses one raw material called Casko. Four hundred gallons of Casko were purchased
at a cost of $800 and were used to produce 150 gallons of Product 101, selling for $5
per gallon, and 75 gallons of Product 202, selling for $15 per gallon. How much of the
$800 cost should be allocated to each product, assuming that the company allocates cost
based on sales revenue?
