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: A. Fewer new businesses were started in 2010 than in other years
Explanation:
The answer to the blank space is data.
The contents of the spreadsheet are the annual record of airfares to different cities from Chicago. This is what we call data – which are facts or statistics collected together for reference or analysis. Since Silway Travels plans to use the annual record information to contrast airfares during peak and off-season, it is clear that the data in this case would be used for analysis.
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Answer:
Increase of $95,000
Explanation:
Stockholder equity: It records the issue of shares, retained earnings, and deduct the dividend amount if declared.
The expenses which are related to the business is directly or indirectly affect the stockholder equity.
So, the net effect is shown below:
Issuance of common stock = $200,000
Less - Payment of salaries expense = $105,000
So, the net effect would be equal to
= $200,000 - $105,000
= $95,000
The accounts payable does not affect stockholder equity. So, it would not be considered.
This $95,000 would increase stockholder equity.
