Homework Answers
| a | Current Liability | 215200 | ||
| b | Current Liability change | 14900 | Increase | =215200-200300 |
| c | Total Notes payable | 526800 |
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1. Current Portion of Long-Term Debt 2. Connie's Bistro, Inc. reported the following information about its...
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 (in millions): WN Long-term debt is composed of the following: December 31 Current Year Preceding Year Total Notes payable $742,000 (215,200) $408,100 (200,300) Less current portion Long-term debt $526,800 $207,800 a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? co. O b. How much...
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 (in millions): Long-term debt consists of the following: December 31 Current Year Preceding Year Total long-term debt $463,100 $254,700 (134,300) (125,000) Less current portion Long-term debt $328,800 $129,700 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...
F cons Log in to y... hot music.. quentin w December 31 Current Preceding Year Year 655,000 $360,...
F cons Log in to y... hot music.. quentin w December 31 Current Preceding Year Year 655,000 $360,300 (190,000) (176,900) 465,000 $183,400 Total Notes payable Less current portion Long-term debt a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? b. How much did the total current liabilities...
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...
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...
pters 7-9 Match the following Current portion of long-term debt Notes payable Recording a contingent liability...
pters 7-9 Match the following Current portion of long-term debt Notes payable Recording a contingent liability Disclosure of a contingent liability Deferred revenues Match each of the options above to the Items below. A written promise to repay the amount borrowed plus interest Loss is probable and amount is reasonably estimable Debt that will be paid within one year of the balance sheet date. Loss is reasonably possible and amount is reasonably estimable. A liability that requires the sacrifice of...
Required information [The following information applies to the questions displayed below.] The note about debt...
Required information [The following information applies to the questions displayed below.] The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2017 disclosed the following: 7.35% notes due 2018 $ 202,400,000 7.85% notes due 2023 $ 346,200,000 8.10% notes due 2032 $ 227,000,000 7.73% notes due 2040 $ 202,000,000 6.65% notes due 2019 $ 25,200,000 The above table summarizes the long-term debt of the Company at December 31, 2017. All of...
TER 10 Liabilities LO 10-2 M10-5 Reporting Current and Noncurrent Portions of Long-Term Debt Assume that...
TER 10 Liabilities LO 10-2 M10-5 Reporting Current and Noncurrent Portions of Long-Term Debt Assume that on December 1, 2015. your company borrowed $15.000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2016, $2,000; 2017, $3,000: 2018. $4,000; and 2019, $6,000. Show how this loan will be reported in the December 31, 2016 and 2015 balance sheets, assuming that principal payments will be made when required....
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term...
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term note payable for $10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Which of the following entries needs to be made at July 1, 2013 to reclassify the current portion of the note? A) Long-term notes payable 2,000 Cash 2,000 B) Current portion of long-term notes payable 2,000 Long-term notes payable 2,000 C) Long-term notes...
Problem 9-91A (Algorithmic) Reporting Long-Term Debt Fridley Manufacturing's accounting records reveal the following account balances after...
Problem 9-91A (Algorithmic) Reporting Long-Term Debt Fridley Manufacturing's accounting records reveal the following account balances after adjusting entries are made on December 31, 2020: Accounts payable $59,400 800,000 41,500 Bonds payable (9.4%, due in 2027) Capital lease liability Bonds payable (8.7%, due in 2023) Deferred tax liability Discount on bonds payable (9.4%, due in 2027) Income taxes payable 50,000 133,400 12,600 26,900 38,700 Interest payable 120,000 400,000 Installment note payable (8% equal installments due 2021 to 2024) Notes payable (7.8%,...
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 (in millions): WN Long-term debt is composed of the following: December 31 Current Year Preceding Year Total Notes payable $742,000 (215,200) $408,100 (200,300) Less current portion Long-term debt $526,800 $207,800 a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? co. O b. How much...
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 (in millions): Long-term debt consists of the following: December 31 Current Year Preceding Year Total long-term debt $463,100 $254,700 (134,300) (125,000) Less current portion Long-term debt $328,800 $129,700 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...
F cons Log in to y... hot music.. quentin w December 31 Current Preceding Year Year 655,000 $360,300 (190,000) (176,900) 465,000 $183,400 Total Notes payable Less current portion Long-term debt a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? b. How much did the total current liabilities...
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...
pters 7-9 Match the following Current portion of long-term debt Notes payable Recording a contingent liability Disclosure of a contingent liability Deferred revenues Match each of the options above to the Items below. A written promise to repay the amount borrowed plus interest Loss is probable and amount is reasonably estimable Debt that will be paid within one year of the balance sheet date. Loss is reasonably possible and amount is reasonably estimable. A liability that requires the sacrifice of...
TER 10 Liabilities LO 10-2 M10-5 Reporting Current and Noncurrent Portions of Long-Term Debt Assume that on December 1, 2015. your company borrowed $15.000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2016, $2,000; 2017, $3,000: 2018. $4,000; and 2019, $6,000. Show how this loan will be reported in the December 31, 2016 and 2015 balance sheets, assuming that principal payments will be made when required....
Discussion questions for "Chapter 1 1) On July 1, 2013, Avery Services issued a 4% long-term note payable for $10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Which of the following entries needs to be made at July 1, 2013 to reclassify the current portion of the note? A) Long-term notes payable 2,000 Cash 2,000 B) Current portion of long-term notes payable 2,000 Long-term notes payable 2,000 C) Long-term notes...
Problem 9-91A (Algorithmic) Reporting Long-Term Debt Fridley Manufacturing's accounting records reveal the following account balances after adjusting entries are made on December 31, 2020: Accounts payable $59,400 800,000 41,500 Bonds payable (9.4%, due in 2027) Capital lease liability Bonds payable (8.7%, due in 2023) Deferred tax liability Discount on bonds payable (9.4%, due in 2027) Income taxes payable 50,000 133,400 12,600 26,900 38,700 Interest payable 120,000 400,000 Installment note payable (8% equal installments due 2021 to 2024) Notes payable (7.8%,...
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