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koban [17]
3 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]3 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

You might be interested in
list four strategies that individuals, families, businesses, and government apply when making financial decisions.
Agata [3.3K]

While making financial decision one should keep in mind the Cost-benefit analysis, marginal analysis, trade-offs, and opportunity costs.

<h3>What are the strategies for making better fianancial decision?</h3>

The success of your firm will depend on the wiser financial decisions you make, among other things. Financial errors can have devastating repercussions and seriously ruin your business venture. You must be familiar with your company's financial data in order to develop stronger financial decision-making techniques.

1. Consistently Use Reliable Accounts

2. Invest in financial education

3. Regularly compare cash flow forecasts to actuals

4. Ensure That Major Initiatives' Financial Impact Is Always Calculated

5. Have Your Team Participate In Decision-Making

6. Consistently monitor financial performance

Learn more about the Business finance with the help of the given link:

brainly.com/question/10024737

#SPJ4

6 0
2 years ago
Miller Company’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (37,000 uni
inn [45]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Total Per Unit Sales (37,000 units at $6) $ 222,000  

Variable expenses 111,000 ($3.00)

Contribution margin 111,000 ($ 3.00)

Fixed expenses 41,000

Net operating income $ 70,000

1) sales increase by 12%

Income= contribution margin* 1.12 - fixed expenses= 111,000*1.12 - 41,000= 83,320

2) selling price decreases by $1.30 per unit and the number of units sold increased by 19%.

Income= (37000*1.19)*(4.7-3) - 41,000= 33,851

3)  the selling price increases by $1.30 per unit, fixed expenses increase by $6,000, and the number of units sold decreased by 7%

Income= (37000*0.93)*(7.30-3) - 47000= $100,963

4) the selling price per unit increases by 20%, variable expenses increase by 20 cents per unit, and the number of units sold decreased by 13%

Income= (37000*0.87)*(7.2-3.2) - 41000= $87,760

8 0
3 years ago
Howard ​Services, Inc., has $ 8 comma 600 cash on hand on January 1. The company requires a minimum cash balance of $ 7 comma 60
skad [1K]

Answer:

The amount of cash to be borrowed = $18,040

Explanation:

The cash budget shows the expected cash payments and expected cash receipts and cash balance at the end of a particular period.

Note that in the cash budget only items of the cash are considered, therefore items like depreciation, amortization of intangible assets and apportionment of fixed costs are not included because they are not cash based.

The balance at the end = opening cash balance + cash receipts -cash payment  

Applying this to Howard ​Services, Inc.

The amount of cash to be borrowed = Minimum cash balance required - Net cash balance

DATA

Opening cash balance - 8600

Cash receipts- 548,570

Cash payment - 567,610

Net cash balance = 8600 + 548,570 - 567,610 = (10,440)

The amount of cash to be borrowed = 7,600 - (10,440)

                                                               =7,600+10,440=18040

The amount of cash to be borrowed = $18,040

<em>Note a negative amount of 10,400 would mean that that would be first borrowed to balance the deficit, and to take the balance to the minimum required cash balance, an addition 7,600 would need to be borrowed</em>.

6 0
3 years ago
A firm plans to begin production of a new small appliance. the manager must decide whether to purchase the motors for the applia
KengaRu [80]

For amounts over 35,000 units, in house option A is cheaper.

Find the break even quantity (aka make the equations equal) of the outside vendor compared to each in-house option.

Vendor vs in house option A:

10x = 175,000 + 5x  (subtract 5x from both sides)

5x = 175,000 (divide by 5)

x = 35,000 units

vendor is cheaper than option A up to 35,000 units

Vendor vs. in-house option B

10x = 190,000 + 4x (subtract 4x from both sides)

6x = 190,000 (divide by 6)

x = 31,667 (rounded to nearest unit)

vendor is cheaper than option B up to 31,667 units

7 0
3 years ago
ECG Company recorded two sales on March 1 of $20,000 and $30,000 under credit terms of 3/10, n/30 (3% discount if paid within 10
AlladinOne [14]

Answer:

In net method the discount not given is recorded as revenue and in gross method the discount allowed is recorded as expense.

Explanation:

ECG Company

Journal Entries

<u>Net  Method</u>

Date               Particulars                         Debit             Credit

1 March        Accounts Receivable       19400

                     Accounts Receivable     29,100

                              Sales                                              48500

( Calculation of net Sales ( 20,000* 3% = 600, 30,000* 3%= 900) 20,000- 600= 19,400 and 30,000- 900= 29,100)

8 Mar             Cash                         19400

                          Accounts Receivable                      19400

Receipt of 20,000 Sales within discount period.

25 Mar          Cash                        30,000

                      Accounts Receivable                          29,100

                    Interest Revenue                                        900

Receipt of payment after discount time period.

<u>Gross Method</u>

1 March        Accounts Receivable       20,000 Dr

                     Accounts Receivable      30,000 Dr

                              Sales                                              50,000 Cr

Transactions of Sales on gross method. Here discount is not calculated unless given.

8 Mar             Cash                         19400 Dr

                      Discount Allowed       600 Dr

                          Accounts Receivable                      20,000 Cr

Receipt of 20,000 Sales within discount period.

25 Mar          Cash                        30,000 Cr

                      Accounts Receivable                          30,000 Cr

           Receipt of Sales of 30,000 after the discount period.

6 0
3 years ago
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