On 1 January 2020, GSS Limited purchased a three-year interest-bearing note issued by a financial institution, with a face value of $100,000, due on 1 January 2023. This note bears an annual interest at 5% payable on each 1 January, starting from 1 January 2021. The market rate of interest for a note of similar risk is 8%. Cash equal to the present value of this note was paid by GSS on the purchase date. GSS has a financial year ended 31 December.

Required:

(a) Calculate the present value of the note on 1 January 2020.

(b) Prepare all the journal entries for year 2020 and for 2021 respectively.

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Answer the following questions using the information below: southwestern college is planning to hold a fund raising banquet at one of the local country clubs. it has two options for the banquet: option one: crestview country club a. fixed rental cost of $1,000 b. $12 per person for food option two: tallgrass country club a. fixed rental cost of $3,000 b. $8.00 per person for food southwestern college has budgeted $1,800 for administrative and marketing expenses. it plans to hire a band which will cost another $800. tickets are expected to be $30 per person. local business supporters will donate any other items required for the event. which option has the lowest breakeven point?