Homework Answers
| Answer | ||
| Note for Disclosure of long term debt at december 31,2020 | ||
| Year | Long term Debt | Working |
| 2021 | 0 | |
| 2022 | $ 2,968,000 | |
| 2023 | $ 4,988,000 | ($2,968,000+2,020,000) |
| 2024 | $ 10,028,000 | ($2,968,000+7,060,000) |
| 2025 | $ 2,968,000 | |
Please like
Add Answer to:
At December 31, 2020, Sheffield Company has outstanding three long-term debt issues. The first is a...
Accounting At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is...
Accounting
At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is a $1,960,000 note payable which matures June 30, 2023. The second is a $6,760,000 bond issue which matures September 30, 2024. The third is a $13,530,000 sinking fund debenture with annual sinking fund payments of $2,706,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023...
At December 31, 2020, Pharoah Company has outstanding three long-term debt issues. The first is a...
At December 31, 2020, Pharoah Company has outstanding three long-term debt issues. The first is a $2,370,000 note payable which matures June 30, 2023. The second is a $5,580,000 bond issue which matures September 30, 2024. The third is a $12,850,000 sinking fund debenture with annual sinking fund payments of $2,570,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020.
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017. Long-term Deb 2018 2019 2020 2022
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023 Prepare the required note disclosure for the long-term debt at December 31, 2017
PLEASE SHOW WORK IF POSSIBLE... THANKS!! Exercise 14-20 At December 31, 2017, Monty Company has outstanding...
PLEASE SHOW WORK IF POSSIBLE...
THANKS!!
Exercise 14-20 At December 31, 2017, Monty Company has outstanding three long-term debt issues. The first is a $1,840,000 note payable which matures June 30, 2020. The second is a $6,140,000 bond issue which matures September 30, 2021. The third is a $11,560,000 sinking fund debenture with annual sinking fund payments of $2,312,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017....
Classifying Debt On December 31, 2020, Millers Grocery Inc. had a 10 year, 7 note payable...
Classifying Debt 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 classifed on the balance sheet of Millers Grocery on December 31, 20207 a. The company intends to pay off the note payable when it comes due b....
E13.9B (L0 2) (Refinancing of Short-Term Debt) On December 31, 2020, Gibson Company has $18,200,000 of...
E13.9B (L0 2) (Refinancing of Short-Term Debt) On December 31, 2020, Gibson Company has $18,200,000 of short-term debt in the form of notes payable to Blue Lagoon State Bank due in 2021. On January 28, 2021, Gibson enters into a refinancing agreement with Blue Lagoon that will permit it to borrow up to 60% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $15,600,000 in May to a high of $20,800,000 in...
Sheffield Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from...
Sheffield Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from sale of division $2,400,000 Note receivable from officer 495,100 Transactions during 2020 and other information relating to Sheffield’s long-term receivables were as follows. 1. The $2,400,000 note receivable is dated May 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of Sheffield’s electronics division to New York Company. Principal payments of $800,000 plus appropriate interest are...
On December 31, 2020, Sage Company has $6,975,000 of short-term debt in the form of notes...
On December 31, 2020, Sage Company has $6,975,000 of short-term debt in the form of notes payable to Gotham State Bank due in 2021. On December 28, 2020, Sage enters into a refinancing agreement with Gotham that will permit it to borrow up to 67% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $5,983,000 in May to a high of $7,983,000 in October during the year 2021. The interest cost of...
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...
Accounting
At December 31, 2020, Tamarisk Company has outstanding three long-term debt issues. The first is a $1,960,000 note payable which matures June 30, 2023. The second is a $6,760,000 bond issue which matures September 30, 2024. The third is a $13,530,000 sinking fund debenture with annual sinking fund payments of $2,706,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020. Long-term Debt 2021 $ 2022 $ 2023...
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017. Long-term Deb 2018 2019 2020 2022
Exercise 14-20 At December 31, 2017, Sunland Company has outstanding three long-term debt issues. The first is a $2,120,000 note payable which matures June 30, 2020. The second is a $6,020,000 bond issue which matures September 30, 2021. The third is a $13,240,000 sinking fund debenture with annual sinking fund payments of $2,648,000 in each of the years 2019 through 2023 Prepare the required note disclosure for the long-term debt at December 31, 2017
PLEASE SHOW WORK IF POSSIBLE...
THANKS!!
Exercise 14-20 At December 31, 2017, Monty Company has outstanding three long-term debt issues. The first is a $1,840,000 note payable which matures June 30, 2020. The second is a $6,140,000 bond issue which matures September 30, 2021. The third is a $11,560,000 sinking fund debenture with annual sinking fund payments of $2,312,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017....
Classifying Debt 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 classifed on the balance sheet of Millers Grocery on December 31, 20207 a. The company intends to pay off the note payable when it comes due b....
Most questions answered within 3 hours.
-
Sodium carbonate is added to the tea mixture, in part, to form
the sodium salt of...
asked 18 minutes ago -
he plant started to purify its wastewater before discharging it
into the lake. How long will...
asked 37 minutes ago -
Thiazyl fluoride, F3NS is a colourless gas. Using concepts of
electronegativity, formal charge etc. determine the...
asked 40 minutes ago -
1. Why is an explicit inflation target a bad policy?
2. MV=PQ If M grows, then...
asked 13 minutes ago -
A 1.50 kg sample of water at 15.0°C is in a calorimeter. You
drop a piece...
asked 39 minutes ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 17 minutes ago -
For the assignment this week, use Microsoft Word or Microsoft
Excel to create your own Comparing...
asked 15 minutes ago -
Pratt Company acquired all of Spider, Inc.’s outstanding shares
on December 31, 2018, for $510,100 cash....
asked 17 minutes ago -
A
firm purchased telephone equipment for cash. By mistake, the person
who recorded the transaction debited...
asked 39 minutes ago -
Discuss the similarities and differences between static and
flexible Budgeting and Capital budgeting. · Why is...
asked 29 minutes ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 20 minutes ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 22 minutes ago