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3. At December 31, 2019 Telmark Companmy owed bonds payable of $1,750,000 due on May 15,...
4. On December 31, 2020, Largo, Inc. had a $400,000 note payable outstanding, due July 31,...
4. On December 31, 2020, Largo, Inc. had a $400,000 note payable outstanding, due July 31, 2021. Largo also had substantial excess cash on that date and on January 12, 2021, Largo prepaid $150,000 of the note. In February 2021, Largo completed a $1,500,000 long term bond offering. Largo will use the bond offering proceeds to repay the remainder of the note payable at its maturity and to pay construction costs during 2021. On March 3, 2021, Largo issued its...
On December 31, 2019, Yel Co. has €3,000,000 of short-term notes payable due on February 14,...
On December 31, 2019, Yel Co. has €3,000,000 of short-term notes payable due on February 14, 2020. On January 10, 2020, Yel arranged a line of credit with ROY Bank which allows Irey to borrow up to €2,000,000 at one percent above the prime rate for three years. On February 2, 2020, Irey borrowed €1,800,000 from ROY Bank and used €750,000 additional cash to liquidate €2,550,000 of the short-term notes payable. The amount of the short-term notes payable that should...
At their last year end, December 31, 2019, the liabilities outstanding of ICAP Corp. included the...
At their last year end, December 31, 2019, the liabilities outstanding of ICAP Corp. included the following: 1. Cash dividends on common shares, $100,000, payable on January 15, 2020 2. Note payable to Lombard Bank, $850,000, due January 26, 2020 3. Serial bonds, $2,000,000, of which $500,000 matures during 2020 4. Note payable to UBI Banca, $200,000, due January 27, 2020 The following transactions occurred early in 2020: January 15: The cash dividends were paid. January 25: ICAP entered into...
help me please ? thank you ? 25) Nieva Company had the following liabilities on December...
help me please ? thank you ?
25) Nieva Company had the following liabilities on December 31, 2019: Accounts payable 500,000 Accrued expenses 50,000 Note payable - due March 31, 2020 1,000,000 Note payable - due May 1, 2020 800,000 Bonds payable - due December 31, 2021 2,000,000 Bonds payable - due December 31, 2020 (net of discount P100,000) 4,900,000 On March 1, 2020 before the 2019 financial statements were issued, the note payable of P1,000,000 was replaced by an...
please provide work (Ch. 13) At the financial statement date of December 31, 2019, the liabilities...
please provide work
(Ch. 13) At the financial statement date of December 31, 2019, the liabilities outstanding of Pollard Corporation included the following: 1. Cash dividends on common stock, $70,000, payable on January 15, 2020. 2. Note payable to Wabaso State Bank, S570,000, due January 20, 2020 3. Serial bonds, $2,100,000, of which $520,000 mature during 2020, 4. Note payable to Orlando National Bank, $400,000, due January 27, 2020. Hint: review the Ch. 13 PPTs (slides 42 and 44) that...
On December 31, 2020, Millers Grocery Inc. had a 10-year, 7% note payable balance of $100,000....
On December 31, 2020, Millers Grocery Inc. had a 10-year, 7% note payable balance of $100,000. The note payable was originally issued on June 30, 2011. The company will issue its financial statements on March 15, 2021. How will the note payable in each of the following separate scenarios be classified on the balance sheet of Millers Grocery on December 31, 2020? a. The company intends to pay off the note payable when it comes due. b. The company intends...
On December 31, 2020, SoBou Co. has $5,000,000 of short-term notes payable due on February 14,...
On December 31, 2020, SoBou Co. has $5,000,000 of short-term notes payable due on February 14, 2021. On January 10, 2021, SoBou arranged a line of credit with Suntrust Bank, which allows SoBou to borrow up to $3,500,000 at one percent above the prime rate for three years. On February 3, 2021, SoBou borrowed $3,500,000 from Suntrust and used $500,000 additional cash to liquidate $4,000,000 of the short-term notes payable. The amount of the short-term notes payable that should be...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14%...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14% notes payable issued October 1, 2019, maturing - September 30, 2021 P 1,250,000 - 16% note payable issued April 1, 2004, due on April 2021 2,000,000 On December 31, 2020, the company expects to refinance P 2,000,000 by the issuance of a long-term note payable in lump sum. The refinancing of the P 2,000,000 is at the discretion of the enterprise. Levi's December 31,...
At December 31, 2020, Kingbird Corporation owes $529,700 on a note payable due February 15, 2021....
At December 31, 2020, Kingbird Corporation owes $529,700 on a note payable due February 15, 2021. A) If Kingbird had restructured the note on December 15, 2020, such that Kingbird has the contractual right to defer payment of $264,850 of the note until February 15, 2022, how much of the $529,700 should be reported as a current liability at December 31, 2020? The amount to be reported as a current liability at December 31, 2020. ???? B) If Kingbird pays...
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021....
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021. If Monty had restructured the note on December 15, 2020, such that Monty has the contractual right to defer payment of $262,650 of the note until February 15, 2022, how much of the $525,300 should be reported as a current liability at December 31, 2020? The amount to be reported as a current liability at December 31, 2020 $ e Textbook and Media If...
4. On December 31, 2020, Largo, Inc. had a $400,000 note payable outstanding, due July 31, 2021. Largo also had substantial excess cash on that date and on January 12, 2021, Largo prepaid $150,000 of the note. In February 2021, Largo completed a $1,500,000 long term bond offering. Largo will use the bond offering proceeds to repay the remainder of the note payable at its maturity and to pay construction costs during 2021. On March 3, 2021, Largo issued its...
help me please ? thank you ?
25) Nieva Company had the following liabilities on December 31, 2019: Accounts payable 500,000 Accrued expenses 50,000 Note payable - due March 31, 2020 1,000,000 Note payable - due May 1, 2020 800,000 Bonds payable - due December 31, 2021 2,000,000 Bonds payable - due December 31, 2020 (net of discount P100,000) 4,900,000 On March 1, 2020 before the 2019 financial statements were issued, the note payable of P1,000,000 was replaced by an...
please provide work
(Ch. 13) At the financial statement date of December 31, 2019, the liabilities outstanding of Pollard Corporation included the following: 1. Cash dividends on common stock, $70,000, payable on January 15, 2020. 2. Note payable to Wabaso State Bank, S570,000, due January 20, 2020 3. Serial bonds, $2,100,000, of which $520,000 mature during 2020, 4. Note payable to Orlando National Bank, $400,000, due January 27, 2020. Hint: review the Ch. 13 PPTs (slides 42 and 44) that...
At December 31, 2020, Monty Corporation owes $525,300 on a note payable due February 15, 2021. If Monty had restructured the note on December 15, 2020, such that Monty has the contractual right to defer payment of $262,650 of the note until February 15, 2022, how much of the $525,300 should be reported as a current liability at December 31, 2020? The amount to be reported as a current liability at December 31, 2020 $ e Textbook and Media If...
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