Business, 10.04.2020 23:51 chey1603

On December 31, 2016, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $550,000, a due date of December 31, 2019, and a stated rate of 5%, with interest receivable at the end of each year. The fair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10%.

The following interest factors are provided: Interest Rate Table Factors For Three Periods 5% 10%

QS) Prepare a Schedule of Note Discount Amortization for Green Company under the effective interest method.

Date 12/31/16 12/31/17 12/31/18 12/31/19 Cash Interest (5%) Effective Interest (10%) Discount Amortized Unamortized Discount Balance Present Value of Note 27500 27500 27500 82500

Future Value of 1 1.15763 // 1.33100

Present Value of 1 0.86384// 0.75132

Future Value of Ordinary Annuity of 1 3.15250 //3.31000

Present Value of Ordinary Annuity of 1 2.72325// 2.48685

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 23:10

At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. required: a. journalize the adjusting entry to record the accrued fees on december 31. refer to the chart of accounts for exact wording of account titles. b. if the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

Answers: 2

Answer

Business, 22.06.2019 15:30

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value

Answers: 2

Answer

Business, 22.06.2019 19:30

Each row in a database is a set of unique information called a(n) table. record. object. field.

Answers: 3

Answer

Business, 22.06.2019 20:40

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.

Answers: 2

Answer

You know the right answer?

On December 31, 2016, Green Company finished consultation services and accepted in exchange a promis...

Questions