1lb ground beef (if you're worried about fat you can use ground chuck)
1/4 onion diced
1 Green bell pepper diced
2 cups uncooked rice
1 46fl oz can of tomato juice
Brown ground beef in a skillet with the diced onion and bell pepper. Add salt and pepper to your taste as you brown your beef, onion, and bell pepper mixture. Drain.
Put your ground beef mixture in a deep skillet or pot and add the whole can of tomato juice. Simmer till soft boil. In a separate pot make rice to the package directions. Once the rice is done add that to your soft boiling beef/tomato juice pan. Keep on a low heat/boil till juice is mostly absorbed into the rice, stirring occasionally. It should only be slightly moist/wet at this point.
You can add Parmesan cheese to the Spanish rice while it cooks at the low heat/boil stage if you like. (although be aware that the utensils you use will be a pain to clean from the melted cheese) Otherwise, I add my Parmesan to my own bowl before i sit down to eat and serve bread sticks, cheesy bread, or plain butter bread with it.