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kondaur [170]
2 years ago
8

On December 31, 2020, Windsor Company had $1,198,000 of short-term debt in the form of notes payable due February 2, 2021. On Ja

nuary 21, 2021, the company issued 23,200 shares of its common stock for $28 per share, receiving $649,600 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $548,400 cash, are used to liquidate the $1,198,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021.Show how the $1,198,000 of short-term debt should be presented on the December 31, 2020, balance sheet.
Business
1 answer:
emmasim [6.3K]2 years ago
6 0

Answer and Explanation:

The balance sheet is shown below:-

The computation of note payable is below:-

Notes Payable = $1,198,000 - $649,600

= $548,400

Total notes payable by the company are$1,198,000, of which $649,600 is common stock issue and $548,400 is cash liquidate.

                       Windsor Company

                     Partial Balance sheet

                       December 31, 2020

Particulars              Amount

Current Liabilities:

Notes Payable             $548,400

Long term Debt:  

Notes Payable            $649,600

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The​ full-employment level of employment​ is: A. the level of employment when aggregate demand is equal to​ short-run aggregate
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Answer:

The correct answer is letter "C": the equilibrium level of employment reached after all wages and prices have fully adjusted.

Explanation:

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4 0
2 years ago
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,220 in assets in exchange for its
nexus9112 [7]

Answer and Explanation:

The Preparation of statement of cash flows for Ernst Consulting is shown below:-

<u>Ernst Consulting</u>

<u>Cash Flows from Operating Activities</u>

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Paid cash for telephone expense            ($820)

Paid cash for miscellaneous expenses    ($630)

Net cash used in Operating Activities                            ($5,060 )

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Net cash used in Investing Activities                             ($17,200 )

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Cash dividends                                           ($1,280)  

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Net increase ( decrease) in cash                                       $13,840

Cash balance, October 1                                                       0

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Therefore we have considered cash inflow presented in positive amount

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4 0
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Assoli18 [71]

Answer:

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Explanation:

6 0
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