Homework Answers
answer: bond payable
Long term debts are the obligations that are not payable within
one year, or one business operating cycle, whichever is
longer
Examples:
- Bonds payable
- Long-term notes payable
- Mortgages
- Pension Liabilities
- Lease Liabilities
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QUESTION 10 1 poing The most common type of long-term debt is a note payable. bond...
Chapter 14 Long-Term Liabilities Directed Reading Guide LO1. How are long-term notes payable and mortgages payable...
Chapter 14 Long-Term Liabilities Directed Reading Guide LO1. How are long-term notes payable and mortgages payable accounted for? In your own words, what is a long-term liability? Long term-liabilities are liabilities that do not need to be paid within one year or within the entity’s operating cycle, whichever is longer. Both long-term notes payable and mortgages payable are common long-term liabilities. To record the purchase of a building for $150,000, paying $100,000 in cash and signing a 30-year mortgage...
24. A___________ is generally defined as a long-term debt with an initial maturity of 10 years...
24. A___________ is generally defined as a long-term debt with an initial maturity of 10 years or less, whereas a___________ is a long-term debt with an initial maturity of more than 10 years. A.Note; bond B.Bond; note C.Unfunded debt; note D.Note; unfunded debt 25.True or False. Compounding during the year can lead to a significant difference between the quoted rate and the effective annual rate.A.TrueB.False 26. Suppose XYZ Corporation wants to issue a $1,000 bond with 20years to maturity. This...
UUTUULLULO On January 1, Kelly Company purchased equipment of $240,000 with a long-term note payable. The...
UUTUULLULO On January 1, Kelly Company purchased equipment of $240,000 with a long-term note payable. The debt is payable in annual installments of $48,000 due on December 31 of each year. At the date of purchase, how will Kelly Company report the note payable? On the date of purchase, Kelly will report the following: O A. $48,000 as current portion of notes payable in the current liability section. The remaining $ 192,000 will show as a notes payable in the...
0 Bond payable. mortgage payable. d. pension. Bonds that mature in installments are called a. term...
0 Bond payable. mortgage payable. d. pension. Bonds that mature in installments are called a. term bonds. b. debenture bonds. zero coupon bonds. d. serial bonds. 23. If bonds are issued at a premium, the face interest a. lower than the market rate of interest
What long term debt instruments docorporations use? How can leasing be a type of long term...
What long term debt instruments docorporations use? How can leasing be a type of long term financing? What are the differences between financing with common stock and preferred stock
What is the long-term debt to equity ratio for the year ending 10/31/2011? (Note the current...
What is the long-term debt to equity ratio for the year ending 10/31/2011? (Note the current portion of long-term debts is short-term debt.) 0.601 0.727 0.844 0.938 1.213 Toro Co. (The) (NYS: TTC) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date 10/31/2011 Currency USD Audit Status Not Qualified Consolidated Yes Scale Thousands Cash & cash equivalents 80,886 Customer receivables, gross 144,364 Less: allowance for doubtful accounts 1,964 Customers receivables, net...
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of...
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of $800,000 was signed when Extra Const al 19. 2016. The entire note will be repaid in 3 years, but Interest will be issuance of the Long Term Note and the issue ad the Adjusting Entry on December 31st, 2016 for 6 months interest. If the Long Term Note Payable was to be repaid in 5 years, as stated above, in what section of the...
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of...
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of $800,000 was signed when Extra Const al 19. 2016. The entire note will be repaid in 3 years, but Interest will be issuance of the Long Term Note and the issue ad the Adjusting Entry on December 31st, 2016 for 6 months interest. If the Long Term Note Payable was to be repaid in 5 years, as stated above, in what section of the...
13. Short-term versus long-term financing Generally speaking, short-term debt is riskier than long-term debt, but it...
13. Short-term versus long-term financing Generally speaking, short-term debt is riskier than long-term debt, but it also has some advantages. In the following table, identify which type of funding (short-term debt or long-term debt) is being described in each case. Short-term Debt Long-term Debt This loan has more covenants that restrict the firm's actions. This loan is more flexible and can be used to adapt to changing market conditions. The lender will insist on a more thorough financial examination before...
Examples of liabilities include: A. accounts payable and long - term debt. O B. accounts payable...
Examples of liabilities include: A. accounts payable and long - term debt. O B. accounts payable and dividends. O C. investments and note payable. O D. accounts payable and common stock. A net loss occurs when: O A. total revenues and dividends exceed total expenses and losses. B. total revenues exceed total expenses. O C. total expenses and losses exceed total revenues and gains. O D. not enough cash exists. The income statement: A. reports the results of operations since...
UUTUULLULO On January 1, Kelly Company purchased equipment of $240,000 with a long-term note payable. The debt is payable in annual installments of $48,000 due on December 31 of each year. At the date of purchase, how will Kelly Company report the note payable? On the date of purchase, Kelly will report the following: O A. $48,000 as current portion of notes payable in the current liability section. The remaining $ 192,000 will show as a notes payable in the...
0 Bond payable. mortgage payable. d. pension. Bonds that mature in installments are called a. term bonds. b. debenture bonds. zero coupon bonds. d. serial bonds. 23. If bonds are issued at a premium, the face interest a. lower than the market rate of interest
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of $800,000 was signed when Extra Const al 19. 2016. The entire note will be repaid in 3 years, but Interest will be issuance of the Long Term Note and the issue ad the Adjusting Entry on December 31st, 2016 for 6 months interest. If the Long Term Note Payable was to be repaid in 5 years, as stated above, in what section of the...
STIOV #5 8 Long Term Note Equipment on July 1 Note Payable in the amount of $800,000 was signed when Extra Const al 19. 2016. The entire note will be repaid in 3 years, but Interest will be issuance of the Long Term Note and the issue ad the Adjusting Entry on December 31st, 2016 for 6 months interest. If the Long Term Note Payable was to be repaid in 5 years, as stated above, in what section of the...
13. Short-term versus long-term financing Generally speaking, short-term debt is riskier than long-term debt, but it also has some advantages. In the following table, identify which type of funding (short-term debt or long-term debt) is being described in each case. Short-term Debt Long-term Debt This loan has more covenants that restrict the firm's actions. This loan is more flexible and can be used to adapt to changing market conditions. The lender will insist on a more thorough financial examination before...
Examples of liabilities include: A. accounts payable and long - term debt. O B. accounts payable and dividends. O C. investments and note payable. O D. accounts payable and common stock. A net loss occurs when: O A. total revenues and dividends exceed total expenses and losses. B. total revenues exceed total expenses. O C. total expenses and losses exceed total revenues and gains. O D. not enough cash exists. The income statement: A. reports the results of operations since...
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