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GenaCL600 [577]
3 years ago
15

On December 30, Year 12, AGH, Inc. purchased a machine from Grant Corp. inexchange for a zero-interest-bearing note requiring ei

ght payments of $70,000. The first paymentwas made on December 30, Year 12, and the others are due annually on December 30.At date of issuance, the prevailing rate of interest for this type of note was 11%. Presentvalue factors are as follow:
Period Present Value of Ordinary Annuity of 1 at 1100 Present Value of Annuity Due of 1 at 11%
7 4.712 5.231
8 5.146 5.712

On AGH's December 31, 2017 balance sheet, the net note payable to Grant is:______
Business
1 answer:
andrey2020 [161]3 years ago
6 0

Answer:

$329,840

Explanation:

Calculation to determine the net note payable to Grant

Net note payable to Grant=$70,000 × 4.712

Net note payable to Grant= $329,840

OR

Net note payable to Grant= ($70,000 × 5.712) – $70,000

Net note payable to Grant= $329,840

Therefore On AGH's December 31, 2017 balance sheet, the net note payable to Grant is:$329,840

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According to the employment statistics, Elementary education employs the least, and Crop production employs the largest number.

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On September 1, 2020, Windsor Company sold at 104 (plus accrued interest) 3,840 of its 8%, 10-year, $1,000 face value, nonconver
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the journal entry for recording the bond issuance:

September 1, 2020, 3,840 8% bonds issued

Dr Cash 3,993,600

    Cr Bonds payable 3,840,000

    Cr Premium on bonds payable 138,240

    Cr Additional paid in capital - warrants 15,360

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Why would a smart person keep at least a $100 balance in their checking account
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It’s going to be A and it’s self explanatory so i don’t have an explanation
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13. In a market system, how are the terms of exchange established? a. Consumer advocacy groups establish fair prices for items,
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The forces underlying supply and demand interact to determine the market price.

<h3><u>Explanation:</u></h3>

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1 year ago
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