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koban [17]
4 years ago
14

On September 1, 2021, Southwest Airlines borrows $40.3 million, of which $8.6 million is due next year. Show how Southwest Airli

nes would record the $40.3 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:
alexandr402 [8]4 years ago
4 0

Answer and Explanation:

The presentation of the liabilities side of the balance sheet is presented below:

<u>                                                  Southwest Airlines </u>

<u>                                                    Liabilities side</u>

<u>                                                      Balance sheet</u>

Current liability

Current portion of the long term debt $8,600,000

Long term liability

Notes payable                                       $31,700,000   ($40,300,000 - $8,600,000)

Total liabilities                                      $40,300,000

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ELO Corporation purchased a patent for $135,000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, ELO
LUCKY_DIMON [66]

Answer: $30,000

Explanation:

Amortization from September 1, 2019 - January 1, 2021 :

September 1, - december 31 = 4/12 = 0.333333

(1 + 0.333333) × (135000 × 10) = $18,000

Value left before patent defense :

$(135,000 - 18,000) = $117,000

Amount reported for patent amortization expense 2021:

$(117,000 + 33,000) ÷ 5

$150,000 ÷ 5 = $30,000

7 0
3 years ago
Non-verbal communication influences the way a message is received and functions in at least five different ways. Read the follow
Readme [11.4K]

Answer:

A. Smiling

A. She wishes to promote open communication.

C. He is not very professional and is not interested in the job.

Your answer

Explanation:

Non verbal communication is the transmission of information without the use of words.

Non verbal communication can be carried out through eye contact, facial expressions, physical appearance or settings, tone of voice and distance.

Smiling is an example of non verbal communication using facial expressions. It communicates friendliness and honesty.

By arranging the chairs in a certain manner, physical settings is the mode of non verbal communication used.

I hope my answer helps you

5 0
3 years ago
Read 2 more answers
Hedging transactions in an active future market have zero.<br> A. True<br> B. False
Evgen [1.6K]

Answer:

A. True

Explanation:

Hedging transactions can be described as derivative that are purchased in order to reduce investment risk of investments by using options, futures or forward contracts as insurance.

A futures market refers to a central financial exchange where standardized futures contracts are bought and sole as defined by the exchange.

Generally, positive net present value (NPV) is yielded by hedging. But the NPV will be zero or even slightly negative as when the market becomes active about the future.

Based on this explanation, the correct option is <u>A. True</u>. That is, hedging transactions in an active future market have zero.

7 0
3 years ago
Generally accepted auditing standards are Group of answer choices 1. Required procedures to be used to gather evidence to suppor
IRISSAK [1]

Answer:

"1"

Explanation:

Generally accepted auditing standards are established rules and procedures guiding the conduct of an accountant during the audit of the financial statements of an organization.

It helps to confirm the quality of audit reviews conducted and reports generated by the auditor.

It covers field work , general standards and reporting.

It requires the auditor to have technical training and skills , due professional care and be objective in his engagements as an auditor.

5 0
3 years ago
Fill in each blank with the correct number from the table.
klasskru [66]

Opportunity costs are the measures of things you must give up when you make a certain decision.

In this case, if country A decides to produce all petroleum, they are choosing not to produce 8 units of seafood. This is their opportunity costs because they are giving up the 8 units of seafood to make petroleum.

The same is true for country B. If they choose petroleum, they are giving up the ability to make 8 units of seafood.

3 0
3 years ago
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