Question Details

(Solved by Expert Tutors) ?On December 31, 2016, Green Company finished consultation services and

with a face value of $800,000, 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%??
?
Future Value of 1
1.15763
1.33100
?
?
Present Value of 1
.86384
.75132
?
?
Future Value of Ordinary Annuity of 1
3.15250
3.31000
?
?
Present Value of Ordinary Annuity of 1
2.72325
2.48685
?
????????Instructions (Part 1)
(a)????Determine the present value of the note.
(b)????Record the journal entries for December 31, 2016 and December 31, 2017.
?

Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Apr 19, 2020
PRICE: $15
Solution~000.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

×
Please Enter The Email Where You Want To Receive Solution.

Get this solution for only: $

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Apr 19, 2020

EXPERT

Tutor

ANSWER RATING

YES, THIS IS LEGAL

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

As a reference for in-depth understanding of the subject.
As a source of ideas / reasoning for your own research (if properly referenced)
For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).

This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.