Concord Corporation has $2930000 of short-term debt it expects to retire with proceeds from the sale...
Concord Corporation has $2930000 of short-term debt it expects to retire with proceeds from the sale of 82000 shares of common stock. There is no contractual agreement to retire the debt with the stock sale proceeds. If the stock is sold for $25 per share subsequent to the balance sheet date, but before the balance sheet is issued, what amount of short-term debt could be excluded from current liabilities? A) $880000. B) $2930000. C) $2050000. D) $0, No contractual agreement to retire the debt with stock proceeds.
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Concord Corporation has $2930000 of short-term debt it expects
to retire with proceeds from the sale...
1. Jump Corporation has $3,000,000 of short-term debt it expects to retire with proceeds from the...
1. Jump Corporation has $3,000,000 of short-term debt it expects to retire with proceeds from the sale of 85,000 shares of common stock. If the stock is sold for $25 per share subsequent to the balance sheet date, but before the balance sheet is issued, what amount of short- term debt could be excluded from current liabilities? a. $2,125,000 b. $3,000,000 c. $875,000 d. $0
Sunland Company has $2970000 of short-term debt it expects to retire with proceeds from the sale...
Sunland Company has $2970000 of short-term debt it expects to
retire with proceeds from the sale of 90000 shares of common stock.
If the stock is sold for $25 per share subsequent to the balance
sheet date, but before the balance sheet is issued, what amount of
short-term debt could be excluded from current liabilities?
$0
$720000
$2250000
$2970000
On December 31, 2017, Ivanhoe Company had $1,107,000 of short-term debt in the form of notes...
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...
On December 31, 2017, Wildhorse 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...
On December 31, 2020, Waterway Company had $1,313,000 of short-term debt in the form of notes...
On December 31, 2020, Waterway Company had $1,313,000 of short-term debt in the form of notes payable due February 2,2021. On January 21, 2021, 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, 2021, 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, 2020, balance sheet is issued on...
On December 31, 2020, Grand Company had $1,232,000 of short-term debt in the form of notes...
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...
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...
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...
Exercise 13-08 On December 31, 2020, Waterway Company had $1,085,000 of short-term debt in the form...
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...
Exercise 13-8 On December 31, 2017, Marin Company had $1,133,000 of short-term debt in the form...
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...
Sunland Company has $2970000 of short-term debt it expects to
retire with proceeds from the sale of 90000 shares of common stock.
If the stock is sold for $25 per share subsequent to the balance
sheet date, but before the balance sheet is issued, what amount of
short-term debt could be excluded from current liabilities?
$0
$720000
$2250000
$2970000
On December 31, 2020, Waterway Company had $1,313,000 of short-term debt in the form of notes payable due February 2,2021. On January 21, 2021, 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, 2021, 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, 2020, balance sheet is issued on...
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...
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