On December 30, Year 12, AGH, Inc. purchased a machine from Grant Corp. inexchange for a zero-interest-bearing note requiring eight payments of $70,000. The first paymentwas made on December 30, Year 12, and the others are due annually on December 30.At date of issuance, the prevailing rate of interest for this type of note was 11%. Presentvalue factors are as follow: Period Present Value of Ordinary Annuity of 1 at 1100 Present Value of Annuity Due of 1 at 11%
7 4.712 5.231
8 5.146 5.712

On AGH's December 31, 2017 balance sheet, the net note payable to Grant is:

The following information is available for ellen's fashions, inc. for the current month. book balance end of month $ 7 comma 000 outstanding checks 700 deposits in transit 4 comma 500 service charges 120 interest revenue 45 what is the adjusted book balance on the bank reconciliation?

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.