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  3. 5. woof dog food co. reported net income of $44,50

5. Woof Dog Food Co. reported net income of $44,500 for...

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Accounting

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5. Woof Dog Food Co. reported net income of $44,500 for the year ended December 31, 2003. January 1 balances in accounts receivable and accounts payable were $23,000 and $26,000 respectively. Year-end balances in these accounts were $22,000 and $28,000 respectively. Depreciation expense for the period was $500. Assuming that all relevant information has been presented, Woof's cash flows from operating activities would be: A) $48,000 B) $44,000 C) $46,000 D) $45,000 6. Reba wishes to know how much would be in her savings account if she deposits a given sum in an account and leaves it there at a 6% interest for five years. She should use a table for the: A) Future value of an ordinary annuity of 1 B) Future value of 1 C) Future value of an annuity of 1 D) Present value of an annuity due of 1 7. LeAnn wishes to know how much she should set aside now at 7% interest in order to accumulate a sum of $5,000 in four years. She should use a table for the: A) Present value of 1 B) Future value of 1 C) Present value of an ordinary annuity of 1 D) Future value of an annuity due of 1 At the end ofanob quarter Dotti donit AA : 10

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