Current Portion of Long-Term Debt
Connie's Bistro, Inc., reported the following information about
its long-term debt...
Current Portion of Long-Term Debt
Connie's Bistro, Inc., reported the following information about
its long-term debt in the notes to a recent financial
statement:
Long-term debt is comprised of the following:
December 31
Current Year
Preceding Year
Total long term-debt
$377,900
$207,800
Less current portion
(109,600)
(102,000)
Long-term debt
$268,300
$105,800
a. How much of the long-term debt was disclosed
as a current liability on the current year’s December 31 balance
sheet?
$
b. How much did the total current...
Accounts payable-trade .......4,350,00
Accounts receivable-trade ......3,100,00
Bank loan, short-term borrowings..... 1,500,000
Processing formulas ......300,000
Land held...
Accounts payable-trade .......4,350,00
Accounts receivable-trade ......3,100,00
Bank loan, short-term borrowings..... 1,500,000
Processing formulas ......300,000
Land held for speculation...... 2,500,000
Land ......5,000,000
Change fund .....30,000
Prepaid advertising ......80,000
Unused office supplies .......20,000
Notes payable-trade ......2,500,000
Notes receivable ........1,000,000
Copyright ........300,000
Tools...... 100,000
Building...... 8,000,000
Machinery...... 5,000,000
Office furniture...... 1,800,000
Computer software ......500,000
Bonds payable .......5,000,000
Time deposit due december 31, 2023...... 5,000,000
Premium on bonds payable..... 500,000
Cash in PNB#001 .......2,300,000
Cash in PNB#002 .......(150,000)
Jenny, capital..... 17,880,000
Accumulates depreciation, building..........
West Oil Company, LLC has three long
term loans (interest bearing debt): loan #1 with a...
West Oil Company, LLC has three long
term loans (interest bearing debt): loan #1 with a balance of
$300,000 at 8% interest; loan #2 with a balance of $400,000 at 5%
interest, and loan #3 with a balance of $100,000 at 10% interest.
The company has accounts payable of $70,000 (non-interest bearing)
and equity of $1,200,000. It estimates that its cost of equity is
11%. Its tax rate is 34%
1. What is the company’s weighted average cost of capital...
At December 31, 2020, RB Company has outstanding three long-term
debt issues. The first is a...
At December 31, 2020, RB Company has outstanding three long-term
debt issues. The first is a $2,120,000 note payable which matures
June 30, 2023. The second is a $6,840,000 bond issue which matures
September 30, 2024. The third is a $12,580,000 sinking fund
debenture with annual sinking fund payments of $2,516,000 in each
of the years 2022 through 2026.
Prepare the required note disclosure for the long-term debt at
December 31, 2020.
Long-term Debt
2021
$enter a dollar amount
2022...
Sybil Inc. had sales of $1,600,000 last year. The company has
shown a steady profit margin...
Sybil Inc. had sales of $1,600,000 last year. The company has
shown a steady profit margin of 16% over the last few years and has
a consistent dividend payout of 60%. Both of these ratios are not
expected to change in future years. The balance sheet for the year
just ended is provided:
Sybil Inc.
Balance Sheet
As at December 31, 2017
Cash
50,000
Accounts receivable
130,000
Prepaid expenses
170,000
Total current assets
350,000
Property, plant and equipment (net)...
On July 31, 2020, Able Co. has a $500,000 15-year
mortgage outstanding. Over the next year...
On July 31, 2020, Able Co. has a $500,000 15-year
mortgage outstanding. Over the next year the company will make 12
payments of $5,000 representing $33,500 of interest and $26,500 of
principal repayment. Which of the following best represents how the
mortgage will be reported on the July 31, 2020 statement of
financial position?
Current liabilities Non-current liabilities
a) $26,500 , $473,500
b) $26,500, $440,000
c) $60,000 , $440,000
d) $60,000, $473,500
3. Mobile Company manufactures computer
technology devices. Selected financial data for Mobile is presented
below, use...
3. Mobile Company manufactures computer
technology devices. Selected financial data for Mobile is presented
below, use the information to answer the following questions:
(Hint: Review Chapter 5 PowerPoint notes and Chapter 5
formula sheet.)
Current Assets
As of Dec. 31, 2017
Dec. 31, 2016
Cash and short-term investments
$1,267,038
$ 616,604
Accounts Receivable (net)
490,816
665,828
Inventories
338,599
487,505
Prepaid Expenses and other current assets
292,511
291,915
Total Current Assets
$2,388,964
$2,061,852
Current Liabilities
Short-term borrowings
$ 25,190
$ 38,108
Current portion of...
A. The company has two interest -bearing long-term debt
accounts. Twenty-year, 3% Bonds 600,000 2% Notes...
A. The company has two interest -bearing long-term debt
accounts. Twenty-year, 3% Bonds 600,000 2% Notes Payable to Banks
30,000 1) What is the journal entry in order to accrue interest
expense? 2) Total interest paid on notes payable and bonds payable
amounted to $17,415. 3) Assuming no beginning balance, what is the
ending balance of Interest Payable? B. Gilbert Inc. closed a retail
store in Miami at a loss of $35,800. The Original cost of building
and equipment was...
Consider the
following financia statements for Green Valley Nursing Home, Inc.,
a for-profit, long term care...
Consider the
following financia statements for Green Valley Nursing Home, Inc.,
a for-profit, long term care facility:
Green Valley
Nursing Home, Inc., Statement of Income and Rretained Earnings,
Year-ended December 31, 2015
Green Valley
Nursing home, Inc., Balance sheet, December 31, 2015
Revenue:
Assets
Net patient service revenue
$ 3,163,258.00
Current assets:
other revenue
$ 106,146.00
cash
$ 105,737.00
total revenues
$ 3,269,404.00
marketable securities
$ 200,000.00
Expenses:
net patient accounts receivable
$ 215,600.00
salaries and benefits
$ 1,515,438.00
supplies...
Below you can find the comparative financial statements of
“Alpha – Beta” company
in € for...
Below you can find the comparative financial statements of
“Alpha – Beta” company
in € for years 2017 and 2018:
Comparative Balance Sheet of “Alpha- Beta”
Assets
2018
2017
Liabilities &
Stockholders’ Equity
2018
2017
Fixed Assets
Property, Plant and Equipment
Accumulated depreciation
Net Property, Plant and
Equipment
Other Assets
Total Fixed Assets
Current Assets
Cash and Cash
Equivalents
Accounts receivables
Inventory
Prepaid Expenses
Total Current Assets
Total Assets
3,250,000
(425,000)
2,825,000
725,000
3,550,000
300,000
900,000
1,100,000
100,000
2,400,000
5,950,000...