Answer: Actually refinance the obligation.
Management indicated that they are going to refinance the obligation.
Have a contractual right to defer settlement of the liability for at least one year after the balance sheet date.
The liability is contractually due more than one year after the balance sheet date.
Explanation:
A current liability is an obligation payable within a year. A short term liability can be excluded from current abilities if management indicates that they are going to refinance it and show that they are capable of doing so.
Also if the company has a contractual right to defer settlement of the liability for at least one year after the balance sheet date, the short term obligation can be excluded. The deferment means that it will be recognized in another period.
When the liability is contractually due more than one year after the balance sheet date, it stops being a current liability and becomes a non-current liability payable after a year.
Answer:
$15000
Explanation:
All types of bonds have some common characteristics which include;
- A face/par value
- A coupon rate (interest rate).
- Either redeemable/irredeemable or convertible.
The face value of one bond is $1000 so the total value of 300 bonds would be $300,000 (300×$1000). In this example these are redeemable bonds which means Whitefeather Industries would be liable to payback the capital amount of bonds after five years (maturity date).
The coupon rate (i.e interest) is charged on Par value. So the Interest can be calculated as $300,000×10% = $30,000 per year.
In this question interest is payable semi-annually, therefore The amount of interest that occurs on December 31, 2017 is $15000 (For the last six months - July 1st till Dec 31st; $30000×6÷12).
Answer:
Income Statement Dec. 31, 20Y6
<u> Glacier Travel Service </u>
Total revenue $900,000
- Wages expense ($425,000)
- Rent expense ($180,000)
- Utilities expense ($75,000)
- Supplies expense ($38,000
)
<u>- Miscellaneous expense ($37,000)
</u>
EBIT $145,000
<u>- Taxes ($30,000)</u>
Net profit $115,000
<span>the answer is several of the characteristics of a high performing strategic leader.
What unique about him is:
- He does not had a lavish lifestyle eventhough he held the most important position in the company.
- He let his office opened so all of his employees can get easy access to communicate with him
- He openly receive any ideas his employees gave to him as long as it's related to their growth as an organization.</span>
