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omeli [17]
2 years ago
13

On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airli

nes would record the $40.1 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.)On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airlines would record the $40.1 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.)
Business
1 answer:
Zepler [3.9K]2 years ago
5 0

Answer and Explanation:

The Preparation of balance sheet is shown below:-

                                       Balance Sheet

Current liability

Long term debt of Current portion $40,100,000

Long term liability

Notes payable                                $31,900,000

($40,100,000 - $8,200,000)

Total liabilities                                      $72,000,000

So, to reach the total liabilities we simply add the long term debt of current portion with notes payable.

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Options for attacking the high costs of items purchased from suppliers do not include Multiple Choice pressuring suppliers for m
solniwko [45]

Answer:

raising prices to customers (in order to cover the high costs).

Explanation:

Supply-side economist can be defined as economists who believes that the ability and willingness of the producers of goods and services to manufacture or produce sets the pace for the economic growth of a country.

This ultimately implies that, increasing the supply of goods and services would cause an economic growth for a country.

Options for attacking or mitigating the high costs of items purchased from suppliers do not include, the seller such as a retailer raising prices to customers in a bid to cover the high costs incurred from the supply.

However, the seller could pressure his or her supplier to lower the cost, switch to a cheaper substitute products, and creating a collaborative effort with the supplier for mutual cost-saving opportunities in the market.

4 0
2 years ago
Many economists attribute part of the recent increase in European unemployment to A high birthrates. B slow rates of technologic
marta [7]

Answer:

The correct answer is C) generous benefits for unemployed workers.

Explanation:

Many people in a position to work see state aid as the way to dedicate themselves to household chores, instead of working in a company. This situation has a negative impact on the unemployment indicator, making one directly believe that there is a problem in this regard, when in fact it is located elsewhere. Governments should execute actions in order to achieve a better insertion of people in the labor field, and that they also see that there is a very big difference compared to the facilities offered by the state for their maintenance.

3 0
2 years ago
Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following
kumpel [21]

Answer: LAND                                 3.227,680

              BUILDING                              806,920

              LAND IMPROVEM                 134,000

Explanation:

Land 4 0.8 $       3.227,680  

Building 1  0.2 $          806,920  

               5  $       4.034,600

Land Improvement    

Parking Lot $         88,000    

Lanscaping $         46,000    

Total  $        134,000

Computation Of Cost Of Land And Building  

Purchase Price  $       4.000,000  

Add:      

Title Insurance Cost  $             22,000  

Legal Fees                  $                8,000  

State Transfer Fees  $                4,600  

Demolition of old building $            310,000  

Land Clearing Expenses $             85,000  

Less: Salvage Material  $              -9,000  

Total Cost Of Land  $      4.420,600    

6 0
2 years ago
Gaur sells Jensen equipment under an arrangement whereby Gaur delivers the equipment on January 1, 2021 and receives payment on
S_A_V [24]

Answer:

B. Credit to sales revenue

Explanation:

As per revenue recognition principle, revenue should be recognized when it is earned and not when cash is received.

As per accrual basis of accounting, revenue is to be recognized when the ownership of the goods has been passed by the seller to the buyer and there is reasonable assurance that payment would be received.

When a sale is effected and goods are delivered with reasonable certainty that payment would be received, following journal entry is recorded:

Accounts Receivable A/C                                Dr.

     To Sales Revenue

(Being equipment sold recorded)

5 0
3 years ago
If the required direct materials purchases are 24,000 pounds, the direct materials required for production is three times the di
ch4aika [34]

Begging direct material

24,000×3.5=84,000

Add material purchase

24000

Less material used for production

24,000×3=72000

Desired ending direct material

84,000+24,000−72,000

=36,000....answer


Hope it helps!

8 0
3 years ago
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