1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnoma [55]
3 years ago
11

The Parry Glitter Company recently loaned $300,000 to FIX 92, a local radio station. The radio station signed a noninterest-bear

ing note requiring the $300,000 to be repaid in three years. As part of the agreement, the radio station will provide Parry with a specified amount of free radio advertising over the three-year term of the note.
The focus of this case is the valuation of the note receivable by Parry Glitter Company and the treatment of the "free" advertising provided by the radio station. The mission of this discussion is to reach a consensus on the appropriate note valuation and accounting treatment of the free advertising.
Mathematics
1 answer:
melomori [17]3 years ago
8 0

Answer:

The Parry Glitter Company

The Parry Glitter Company should record the Notes Receivable as $300,000.

It should also record the interest receivable per year as $24,000 and the advertising cost as $24,000 per year.  These bring into the accounting records the interest revenue and also the advertising expense, which eventually cancel each other.

Step-by-step explanation:

a) Data and Calculations:

Notes Receivable = $300,000

If the notes receivable are repaid at the end of 3 years and it is assumed that the interest on the notes receivable = 8%

Therefore, the cost of the free advertising will be equal to $24,000 ($300,000 * 8%), which is the cost of the interest to the radio station.

You might be interested in
What the answer to this problem
victus00 [196]
5n=30+3n You need to exclude the 4 due to for the first 4GB cost $30 then $3 for each additional GB used
4 0
3 years ago
Read 2 more answers
(PLEASE HELP) The histogram shows the number of hours that 25 college students spent studying for their final exams. Which state
Semmy [17]

The statement on the bottom left is correct. (6 students studied for 20 to 24 hours)

6 0
3 years ago
Read 2 more answers
Find all sets of four consecutive integers whose sum is between 95 and 105
Nat2105 [25]
Hello,

Let n-2,n-1,n,n+1 the foru numbers
s=n-2+n-1+n+n+1=4n-2

95<=4n-2<=105
==>97<=7n<=107
==>24.25<=n<=26.75
==>25<=n<=26
if n=25 s=98
if n=26 s=102
7 0
3 years ago
What is the answer please help me no links I will report because it’s not ok
Pepsi [2]
Answer: 150 minutes
5 0
2 years ago
The average American spent $8,508 on health care in 2011. The cost of health care is projected to rise about 5.8% per year for t
klio [65]
<h3>The projected amount the average American spent on health care in 2014  is $ 10075.91</h3>

<em><u>Solution:</u></em>

Given that,

The average American spent $8,508 on health care in 2011

The cost of health care is projected to rise about 5.8% per year for the years 2012-2022

<em><u>The increasing function is given as:</u></em>

y = a(1+r)^t

Where,

y is future value

a is initial value

r is growth rate in decimal

t is number of years

From given,

a = 8508

r = 5.8 \% = \frac{5.8}{100} = 0.058

t = 2011 to 2014 = 3 years

<em><u>Substituting the values, we get,</u></em>

y = 8508(1 + 0.058)^3\\\\y = 8508(1.058)^3\\\\y = 8508 \times 1.1842\\\\y = 10075.914 \approx 10075.91

Thus the projected amount the average American spent on health care in 2014  is $ 10075.91

4 0
3 years ago
Other questions:
  • Cereal companies often advertise with statements like "collect all 8 dinosaurs" or "one in each specially marked box." Assume th
    15·1 answer
  • What equation in slope intercept form represents the line that passes through the two points (2,5),(9,2)
    15·2 answers
  • Given f(x)=(x+5)(x-2), what are the x-intercepts?
    15·1 answer
  • A line with a slope of 6 passes through the point (2,3) . What is it’s equation in slope-intercept form
    14·2 answers
  • Melissa wants to purchase a digital camera.The listed price of the camera is $195.99.The camera is no sale for 10% off and Melis
    9·1 answer
  • El padre de Teresa tiene que poner un cristal hexagonal en la mesa del comedor. Si el lado mide 50 cm y la apotema mide mide 40
    12·1 answer
  • Each correct answer is worth 134 points, and each incorrect answer is worth −14 points.
    6·2 answers
  • NEGATIVE INTEGER LESS THAN -5
    6·2 answers
  • Here 2.4,1.6, 3.2,0.3, 1.5 . a)Calculate the means . b)Each piece of data is increased by 10. Calculate the new mean. c) Each ne
    15·1 answer
  • How do you this question (pre-cal)
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!