When using accounting software, at year-end to prepare adjusting entries at year-end, you have to: do nothing, the financial statements are prepared automatically when statement reports are pulled prepare the balance sheet first to transfer total equity to the statement of cash flow in a journal entry prepare the income statement first to transfer net income to the balance sheet in a journal entry prepare the statement of cash flow first to transfer the ending cash balance to the balance sheet in a journal entry

Personal financial planning is the process of creating and achieving financial goals? true or false

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Post test question number 9 for entering the job market