Answer:
Waterway company |
|
Partial Balance sheet |
|
December 31-2020 |
|
Current liability |
|
Notes Payable |
269,000 |
Long term debt |
|
Short term debt expected to Refinance |
1,044,000 |
Explanation to the answer:
In this question we are required to show partial balance sheet that is portion of the current liability . The total Notes payable for the company is $1,313,000 and out of which 1,044,000 are refinance through issue of common stock so it can be considered a long term debt and rest of 269,000 are liquidated using cash which is short term
On December 31, 2020, Waterway Company had $1,313,000 of short-term debt in the form of notes...
On December 31, 2017, Wildhorse Company had $1,313,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 23,200 shares of its common stock for $45 per share, receiving $1,044,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $269,000 cash, are used to liquidate the $1,313,000 debt. The December 31, 2017, balance sheet is issued...
Exercise 13-08 On December 31, 2020, Waterway Company had $1,085,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 23,800 shares of its common stock for $28 per share, receiving $666,400 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $418,600 cash, are used to liquidate the $1,085,000 debt. The December 31, 2020, balance sheet...
On December 31, 2020, Grand Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 25,500 shares of its common stock for $48 per share, receiving $1,224,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,000 cash, are used to liquidate the $1,232,000 debt. The December 31, 2020, balance sheet is issued...
On December 31, 2020, Marigold Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 25,500 shares of its common stock for $48 per share, receiving $1,224,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,000 cash, are used to liquidate the $1,232,000 debt. The December 31, 2020, balance sheet is issued...
On December 31, 2020, Bluesky Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 25,500 shares of its common stock for $48 per share, receiving $1,224,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,000 cash, are used to liquidate the $1,232,000 debt. The December 31, 2020, balance sheet is issued...
On December 31, 2020, Whispering Company had $1,094,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 24,000 shares of its common stock for $28 per share, receiving $672,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $422,000 cash, are used to liquidate the $1,094,000 debt. The December 31, 2020, balance sheet is issued...
IFRS 13-07 On December 31, 2020, Waterway Company had $1,104,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 23,000 ordinary shares for $33 per share, receiving $828,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the share sale, supplemented by an additional $276,000 cash, are used to liquidate the $1,104,000 debt. The December 31, 2020, statement of financial position is...
On December 31, 2017, Ivanhoe Company had $1,107,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 26,800 shares of its common stock for $29 per share, receiving $777,200 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $329,800 cash, are used to liquidate the $1,107,000 debt. The December 31, 2017, balance sheet is issued...
Exercise 13-8 On December 31, 2017, Marin Company had $1,133,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 27,100 shares of its common stock for $29 per share, receiving $785,900 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $347,100 cash, are used to liquidate the $1,133,000 debt. The December 31, 2017, balance sheet...
On December 31, 2017, Indigo Company had $1,206,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 23,700 shares of its common stock for $33 per share, receiving $782,100 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $423,900 cash, are used to liquidate the $1,206,000 debt. The December 31, 2017, balance sheet is issued...