Please help!!!!

Which of the following situations would not require that long-term liabilities be reported as current liabilities on a classifie

emmainna [20.7K]

Answer:

The situation that would not require the long-term liabilities to be reported as current liabilities on the balance sheet is :"The company intends to refinance the debt and did so prior to issuance of the financial statements".

Explanation:

Analyzing all the options given above:

The long-term debt matures within the upcoming year- which means that the liability payable is less than one year, therefore, it is a current liability.

The creditor has the right to demand payment due to a contractual violation- which means that the money is immediately payable. Therefore, it refers to the current liability.

The long term debt is callable by the creditor - which means it is also to be recorded as a current liability.

The above three statements clearly explain that they are recorded as a current liability, but when the company intends to refinance the debt and did so prior to issuance of the financial statements does not record the current liability.

6 0

3 years ago

As an elected official, you have been informed that real GDP is below its potential and that action should be taken to encourage

OverLord2011 [107]

Answer: a. Multiplier = 3.33

b. Stimulation = $2000 billion

Explanation:

In this particular case , it's given:

Marginal propensity to consume(MPC) = 0.7

Government spending = $600 billion

Therefore, we can evaluate the multiplier using the following formula:

$Multiplier\ = \frac{1}{(1-MPC)}$

$Multiplier\ = \frac{1}{1-0.7}$

Multiplier = 3.33

Noe, in order to find the stimulation in the economy we will multiple the new government spending with the multiplier. We will get ;

$Stimulation\ = Government\ spending\times Multiplier$

$Stimulation\ = 600\times3.33$

Stimulation = $2000 billion

5 0

3 years ago

When interest rates increase, the demand for commercial and residential real estate will _____ and the price of real estate will

Tems11 [23]

When interest rates increase, the demand for commercial and residential real estate will decrease and the price of real estate will decrease.

Hope that helps!

4 0

3 years ago

The Shirt Company manufactures shirts in two departments: cutting and sewing. The company allocates manufacturing overhead using

Degger [83]

Answer and Explanation:

1. The computation of predetermined OH allocation rate is shown below:-

Predetermined OH allocation Rate = Estimated overhead cost ÷ Estimated Direct labor hours

= 200,000 ÷ 100,000

= 2

2. The computation of the amount of OH allocated in June is shown below:-

Amount of OH allocated in June = Actual Direct labor hours × Overhead allocation Rate

= 15,500 × 2

= 3,100

3. The computation of predetermined OH allocation rates for each department is shown below:-

Overhead allocation Rate Estimated overhead costs ÷ Estimated Direct labor hour

For Cutting Dept = 259,600 ÷ 118,000

= 2.2

For Sewing Dept = 513,000 ÷ 190,000

= 2.7

4. The computation of the total amount of OH allocated in June is shown below:-

Amount of overhead allocated in June

= Machine hours × Predetermined OH allocation rate

For Cutting Dept = 13,000 × 2.2

= 28,600

For Sewing Dept = 7,000 × 2.7

= 18,900

5 0

3 years ago

Cody worked 59 hours last week. Of those hours, 40 hours were paid at the regular rate of $12.50. Ten hours were paid at time-an

vladimir2022 [97]

Answer:

Explanation:

a. What was the gross pay for regular hours?

This will be the regular pay multiplied by the regular hours. This will be:

= $12.50 × 40

= $500

b) What was Cody’s overtime wages?

Cody's overtime wages will be the total amount earned during overtime. This will be:

= [10 × ($12.50 × 1.5)] + [ 9 × ($12.50 × 2)]

= (10 × $18.75) + (9 × $25)

= $187.50 + $225.

= $412.50

c) What was Cody’s total gross pay for the week?

The total gross pay for the week will be the addition of the amount that was earned during regular hours and overtime. This will be:

= $500 + $412.50

= $912.50

4 0

3 years ago