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Vaselesa [24]
3 years ago
13

Region Jet has a $68 million liability at December 31, 2021, of which $14 million is payable in 2022. In its December 31, 2021 b

alance sheet, the company reports the $68 million debt as a:________
a) $54 million current liability and a $14 million long-term liability in the balance sheet
b) $68 million long-term liability in the balance sheet.
c) $68 million current liability in the balance sheet
d) $14 million current liability and a $54 million long-term liability in the balance sheet.
Business
1 answer:
DaniilM [7]3 years ago
6 0

Answer:

The answer is D.

Explanation:

Current liability is the obligation or liability that are due within a year(12months). Example, accounts payable

Long-term liability is the obligation that has a life span of more than a year(i.e it takes more than a year to settle them). Example, bonds.

The opening balance for debt January 1 2022 is $68 million.

$14 million is a curren asset asset because it will be repaid within 2022 calendar year(within a year) while $54million($68 million - $14million) will definitely be a long-term liability.

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Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial st
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Answer:

The CPA rebuts the allegations

Explanation:

The Securities Act of 1933 requires that investors receive financial and other significant information regarding any and all securities being sold publicly and prohibits deceit, misrepresentations, and other fraud in the sale of securities. Therefore, since there was material misstatement or omission in the financial statements, the only chance the CPA has is if they rebut the allegations. Meaning that they provide actual evidence, such as physical statements or witnesses that contradict or nullify the evidence that is being presented against them regarding the material misstatement or omission

3 0
3 years ago
Samuel K. Jenkins is thirty-five years old and lives in New Mexico. He would like to run for President. What else do we need to
lyudmila [28]
Since he is 35 and lives in the United States we would need to know if he has been a resident within the United States for at least 14 years, and if he was a natural born citizen of the U.S.A.<span />
6 0
3 years ago
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The difference between a budget and a standard is that:_________.
8090 [49]

Answer:

The answer is A. Standards refer to a company's projected revenues, costs, or expenses

Explanation:

The explanation is the following:

A budget refers to a department's or a company's projected revenues, costs, or expenses, while on the other hand A standard usually refers to a projected amount per unit of product, per unit of input (such as direct materials, factory overhead), or per unit of output.

Standard costing is intensive in appli­cation as it calls for detailed analysis of variances.

In standard costing, variances are usu­ally revealed through accounts.

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8 0
3 years ago
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He decides to take the company public through an IPO, issuing 2 million new shares. Assuming that he successfully completes the
Salsk061 [2.6K]

Answer:

$36.79

Explanation:

Calculation to determine What will be the IPO price per share

First step is to calculate the Cumulative shares

Cumulative shares = 375,000 + 400,000 + 250,000 + 400,000 + 2 million

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