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Oksana_A [137]
3 years ago
12

A company has the following liabilities at year end: Mortgage note payable; $16,000 due within 12 months $355,000 Short-term deb

t that the company is refinancing with long-term debt 175,000 Deferred tax liability arising from depreciation 25,000 What amount should the company include in the current liability section of the balance sheet?
Business
1 answer:
Grace [21]3 years ago
4 0

Answer:

The amount that the company should include in the current liability section of the balance sheet is $16,000

Explanation:

The short-term debt that the company is refinancing with long-term debt is non-current and  deferred tax liability arising from depreciation is also non-current and should be disclosed as such in the Balance sheet after the sub-heading long-term borrowings.

Therefore, The amount that the company should include in the current liability section of the balance sheet is $16,000

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A company has an unfavorable direct materials quantity variance. A possible reason for this variance is that:
ycow [4]

Answer:

e. any of the other answers can occur.

Explanation:

The reason for the decision above is variances are not dependent on the direct material quantity variance and the calculation of all is differ. We also know the total direct material variance is total of material quantity & price variance that is because total variance may be favorable or unfavorable. And the option(d) direct labor efficiency variance do not relate with material variance.

7 0
3 years ago
First Bank offers personal loans at 7.7 percent compounded monthly. Second Bank offers similar loans at 7.4percent compounded da
Korolek [52]

Answer:

The First Bank loan has an effective rate of 7.98 percent.

Explanation:

we calcualte the effective rate for both loand and check which statement is correct.

<u>First bank:</u>

(1+\frac{0.077}{12} )^{12} = 1 + r_e

(1+\frac{0.077}{12} )^{12} - 1 = r_e

     1.07977643  - 1 = 0.07977 = 7.98%

<u>Second bank:</u>

(1+\frac{0.074}{365} )^{365} = 1 + r_e

(1+\frac{0.077}{365} )^{365} - 1 = r_e

     1.076798729   - 1 = 0.076798729  = 7.68%

Notice tthis isthe effective rate not the annual percentage rate.

So only the statement abour the first bank effectibe rate is true.

7 0
3 years ago
Frequently, you’ll hear people say that “retirement age” is 65. What are they referring to?
VLD [36.1K]
Frequently, you’ll hear people say that “retirement age” is 65. What are they referring to? People who say this are referring to the age in which you can receive your full Social Security retirement benefits. At different ages starting at age 62, you are eligible to receive a percentage of the benefits, once you hit 65, you can receive your full percentage/allotted amount.
6 0
3 years ago
Read 2 more answers
John asked Ted why he failed to show up at the study group session. He found out that Ted had had a really tough day.
Kaylis [27]
The answer should be Perception-Checking

Perception checking is where you check someone's behavior, which is how John found out Ted was having a bad day. (based on Teds behavior)
7 0
3 years ago
Monty loaned his friend Ned $24,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remain
Airida [17]

Answer:

Short term capital loss and $10,800

Explanation:

Remaining balance - Capital gains

$18,000 - $7,200 = $10,800

Monty can report the bad debt of $18,000 as short term capital loss since it is expense for the business and receivables are not recoverable. This amount can be reported as loss of the business.

5 0
3 years ago
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