Business, 13.11.2019 22:31 july00

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.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 21:00, TH3L0N3W0LF

The purpose of the transportation approach for location analysis is to minimize which of the following? a. total costsb. total fixed costsc. the number of shipmentsd. total shipping costse. total variable costs

Answers: 1

continue

Business, 22.06.2019 21:10, cece3467

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is:

Answers: 3

continue

Business, 23.06.2019 00:00, laylaaaaah2054

3. which of the following occupations relate to a skill category of mathematics and data? select all that apply. (2 correct answers) engineer financial analyst mechanic sales person 4. which of the following occupations relate to a skill category of words and literacy? select all that apply. (2 correct answers) educator lawyer marketing manager psychologist architect

Answers: 1

continue

Business, 23.06.2019 01:00, marioshadowman12

To travelers know what to expect researchers collect the prices of commodities

Answers: 2

continue

You know the right answer?

On january 1, 2017, grouper company makes the two following acquisitions. 1. purchases land having a...