This Morning,TL Trucking Invested $75,000 to Help Fund a Company

question 41

Multiple Choice

This morning,TL Trucking invested $75,000 to help fund a company expansion project planned for 4 years from now.How much additional money will the firm have 4 years from now if it can earn 5 percent rather than 4 percent on its savings?

• A)$2,940.09
• B)$3,423.58
• C)$4,008.17
• D)$4,219.68
• E)$4,711.08

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Definitions:

Expired Insurance

Refers to insurance policies where the coverage period has ended and has not been renewed or extended.

Assets

Resources owned or controlled by a business, entity, or individual, which are expected to produce economic value or future benefits.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.

Unearned Revenue

Income received by a company for goods or services that have yet to be provided to the purchaser.