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NeTakaya
3 years ago
12

At December 31, 2020, Wildhorse Company has outstanding three long-term debt issues. The first is a $1,810,000 note payable whic

h matures June 30, 2023. The second is a $4,830,000 bond issue which matures September 30, 2024. The third is a $13,760,000 sinking fund debenture with annual sinking fund payments of $2,752,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020.
Business
1 answer:
grandymaker [24]3 years ago
4 0

Answer and Explanation:

The Preparation of note disclosure for the long-term debt is shown below:-

              Note disclosure for the long-term debt

               At the year end 31, December 2020

Year                Amount                 Working note

2021                    0

2022             $2,752,000   From annual sinking fund payment

2023             $4,562,000        ($1,810,000 annual sinking fund payment + $2,752,000 note payable maturity)

2024             $7,582,000         ($4,830,000 annual sinking fund          payment + $2,752,000 bond maturity)

2025             $2,752,000    From annual sinking fund payment

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3 years ago
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Answer:

The fund raising committee can be organized in 3,276 different ways.

Explanation:

The committee can have the following structures:

Accounting majors            Finance majors

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C(10,0) x C(8,5) = (10! / 10!) x (8! / 3!5!) = 1 x 56 = 56

C(10,1) x C(8,4) = (10! / 9!1!) x (8! / 4!4!) = 10 x 70 = 700

C(10,2) x C(8,3) = (10! / 8!2!) x (8! / 5!3!) = 45 x 56 = 2,520

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3 years ago
35. Porter's national diamond can be used to:
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The above statement is false.

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The most common legal structure of business are as follows:

Sole proprietor : It is a form of business in which a business is fully controlled by only one person. He takes all the decision himself . He has unlimited liability. His personal assets are used by the creditors to recover their money

Partnership: It is a form of business in which minimum 2 person come together to form a partnership firm. They share profit and loss as agreed between them. They have a partnership deed . Every partner have unlimited liability .

Limited liability Partnership : This form is recently introduced. This form come under the limited liability 2008. It has separate legal entity.

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S-Corporation: This business structure is more simple than corporation. It is more beneficial for small owners and also have some tax benefits. S Corporation can also cash accounting system rather than accural method of accounting.  

Thus, the statement is false that the legal structure of business is only four.

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