Ron Sewert owes $30,000 on a non-interest-bearing note due January 1, 2029. He offers to pay...
Homework Answers
Amount to be paid is equal to the present value of amount due in future
= Future value/(1+Interest rate)^number of years
Number of years = 10
= 30,000/(1.10)^10
= $11,566.30
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Ron
Sewert owes $30,000 on a non-interest-bearing note due January 1,
2029. He offers to pay...
Reforged purchased equipment on January 2, 2019. They issued a $500,000, five-year, non-interest bearing note to...
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On January 1, 2010, Ball Co. exchanged equipment for a $160,000 zero-interest-bearing note due on January...
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1. The following transaction is for a non-interest bearing note reported by the gross amount. We...
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On January 1, 2019, Crouser Company sold land to Chad Company, accepting a 2-year, $150,000, non-interest-bearing...
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On January 1, 2017 Hoff sold land to Run Company, accepting a 3-year $200,000 non-interest-bearing note...
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Question 1: Last year the company exchanged a piece of land for a non-interest-bearing note. The...
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40. A note on which no rate of interest is specified is atn) market-rate note interest-bearing...
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Exhibit 13-03 On January 1, 2017, Train, Inc., accepted an $80.000 non-interest bearing 3 year note in exchange for equipment it sold to Steam Company. Train originally purchased the equipment for $125,000, and it had a book value of $75,000 on the date of the sale. The note was non-interest-bearing. An assumed 11% interest rate is implicit in the agreement. Actual information for 11%, three periods, follows: Present value of 1 Present value of annuity of 1 0.73119 2.44371 Refer...
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