User Account

All Pages

What was the sales price of the property

Assignment Help Accounting Basics
Reference no: EM133096276

Question - On January 1, 2021, Sunland Company sold property to Blossom Company which originally cost Sunland $2,680,000. There was no established exchange price for this property. Blossom gave Sunland a $4,290,000 zero-interest-bearing note payable in three equal annual installments of $1,430,000 with the first payment due December 31, 2021. The note has no ready market. The prevailing rate of interest for a note of this type is 10%. What was the sales price of the property (i.e. what is the value of the note receivable/note payable at 1/1/21)?

Reference no: EM133096276

Questions Cloud

Case studies of different organizations : Choose two well documented case studies of different organizations.
What are the five major frameworks in accounting : Question - What are the five major frameworks in accounting literature that are the basis for the concept of sustainability
International human resource management by dowling : Discuss how an expatriate can perceive that an overseas assignment is 'devalued' and explain at least three ways in which the MNE can work to prevent this perce
Discuss the ways that you could respond to harassment : Discuss the ways that you could respond to harassment or bullying in the workplace and their (b) merits and (c) drawbacks.
What was the sales price of the property : The note has no ready market. The prevailing rate of interest for a note of this type is 10%. What was the sales price of the property
Productivity impacting revenue-marketshare : HR discuss role of compensation leading to productivity impacting revenue/marketshare.
Characteristics of behaviorally based structured interviews : Discuss the components and characteristics of behaviorally based structured interviews.
Explain two types of complementary currency : Explain TWO types of complementary currency. Discuss TWO differentiate between complemenatry currency and fiat money
Minimize union membership growth : Discuss some employer tactics used to prevent or minimize union membership growth prior to the passage of the National Labor Relations Act in 1935. Which, if an

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd