On January 1, 2019, Ellen Greene Company makes the following acquisition.
Purchases land having a fair value of $200,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $337,012.
On December 31, 2019, how much interest expense should be recognized on the zero-interest-bearing promissory note? (Hint: First solve for the implied interest rate) Round your final answer to the nearest dollar.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On January 1, 2019, Ellen Greene Company makes the following acquisition. Purchases land having a fair value of $200,000 by issuing a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
An example of communicating category membership by relying on the product descriptor is ford's positioning of its freestyle automobile, which combines the attributes of an suv, a minivan, and a station wagon, as a "sports wagon."
Answers (1)
In competitive markets: Group of answer choices firms set the prices for their products with little concern for the consumer. firms control the prices they charge. market forces are much stronger than individual firms are.
Answers (1)
Universal Containers has built a Partner Community for its users. Users must accept an agreement when logging into the community for the first time. What are three ways for a Salesforce administrator to meet this requirement?
Answers (1)
Suppose a local government decides to increase the tax rate on residential properties under its jurisdiction.
Answers (1)
Corporate Fund started the year with a net asset value of $12.90. By year-end, its NAV equaled $12.30. The fund paid year-end distributions of income and capital gains of $1.40. What was the rate of return to an investor in the fund
Answers (1)
New Questions in Business
A nut store normally sells cashews for $4.00 per pound and peanuts for $1.50 per pound. But at the end of the month the peanuts had not sold well, so, in order to sell 40 pounds of peanuts, the manager decided to mix the 40 pounds of peanuts with
Answers (1)
The Bolen Company forecasts that total overhead for the current year will be $8,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $10,000,000 and the actual machine hours are 80,000 hours.
Answers (1)
Four trends in the past decade have significantly influenced the landscape of global marketing. one of them is
Answers (1)
Badger Corporation declared a stock distribution to all shareholders of record on March 25 of this year. Shareholders will receive one share of Badger stock for each 10 shares of stock they already own.
Answers (1)
Marketing ethics is most important for advertising agencies. maximizes an organization's positive impact on society. refers to principles and standards that define acceptable conduct in marketing. are laws and regulations that govern marketing.
Answers (2)