At the beginning of 2016, Oak Consulting had the following normal balances in its accounts:

Account Balance
Cash $42,000
Accounts receivable 25,000
Accounts payable 8,400
Common stock 24,000
Retained earnings 34,600
The following events apply to Oak's Consulting for 2016:
1. Provided $185,000 of services on account.
2. Incurred $45,800 of operating expenses on account.
3. Collected $140,000 of accounts receivable.
4. Paid $120,000 cash for salaries expense.
5. Paid $31,400 cash as a partial payment on accounts payable.
6. Paid an $10,000 cash dividend to the stockholders.
Post the beginning balances and the transactions from Parts a&d to the appropriate accounts.

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When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

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