On january 1, 2017, grouper company makes the two following acquisitions. 1. purchases land having a fair value of $310,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $470,602. 2. purchases equipment by issuing a 6%, 9-year promissory note having a maturity value of $460,000 (interest payable annually on january 1). the company has to pay 11% interest for funds from its bank. (a) record the two journal entries that should be recorded by grouper company for the two purchases on january 1, 2017. (b) record the interest at the end of the first year on both notes using the effective-interest method.

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

The fiscal 2016 financial statements of nike inc. shows average net operating assets (noa) of $8,450 million, average net nonoperating obligations (nno) of $(4,033) million, average total liabilities of $9,014 million, and average equity of $12,483 million. the company's 2016 financial leverage (flev) is: select one: a. (0.477) b. (0.559 c. (0.323) d. (0.447) e. there is not enough information to determine the ratio.