1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Leona [35]
3 years ago
11

Swifty owes $2.2 million that is due on February 28. The company borrows $1670000 on February 25 (5-year note) and uses the proc

eeds to pay down the $2.2 million note and uses other cash to pay the balance. How much of the $2.2 million note is classified as long-term in the December 31 financial statements?a. $2,000,000.b. $0.c. $1,600,000.d. $400,000.
Business
1 answer:
andreev551 [17]3 years ago
6 0

Answer: b. $0

Explanation:

Long-term liabilities are those that the company will owe for more than one trading period of the company which is usually a year. If the debt is going to be repaid within a year, it will be considered short term.

The $2.2 million is payable on February 28 which means that on 31 December, it is less than a year till it is paid. All of it therefore is to be considered short term and no portion considered long.

You might be interested in
Evaluate how organizations can use one-sample hypothesis testing to determine if there are performance issues in the organizatio
Lilit [14]

Answer:

Explanation:

For example: Suppose you want to check the average working hour of employees. You may think that the average duration of an employees is 7.6 hours. You want to check this claim so you collect a sample of 20 employees and note their duration of work. (please check attached file for this, and continue)

NULL HYPOTHESIS H0:u= 7.6 HOURS

ALTERNATIVE HYPOTHESIS Ha: ≠7.6 HOURS

alpha=0.05

t= 7.765-7.6/1.25/sqrt(20)

t= 0.165/1.25/4.47

t= 0.165/0.28

t= 0.589

degrees of freedom= n-1=20-1=19

t critical = 2.09

Since t critical is GREATER than t calculated therefore we fail to reject null hypothesis H0.

From this we can conclude that We don't have enough or sufficient evidence to say that the mean working duration is different than 7.6 hours.

5 0
3 years ago
Start business 10500 with cash
vlabodo [156]
If you have anything you want to sell, you can setup an online business on eBay or Amazon for a monthly subscription for as little as $20/month.
7 0
3 years ago
In two to three sentences, explain online banking and its purpose.
Strike441 [17]

Answer:

It is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. It is usually used as an easier and faster way to connect with your bank and to access your banking information.

Explanation:

5 0
3 years ago
Read 2 more answers
Serendipity Inc. is re-evaluating its debt level. Its current capital structure consists of 80% debt and 20% common equity, its
Dmitriy789 [7]

Answer:

8.76%

Explanation:

Using the CAPM formula:

Ke = Rf + Beta Factor * Risk premium

Here

Rf is 5%,

Beta Factor is 1.6

And

Risk Premium is 6%

By putting values, we have:

Ke = 5% + 1.6 * 6%

Ke = 14.6%

Now we will find new firm's cost of equity under 40% debt by simply multiplying it with the equity percentage:

Weighted Cost of Equity = 14.6% * 60% = 8.76%

8 0
3 years ago
The addition of acceptance criteria factors to the milestone schedule in a project charter helps the team understand who will ju
tester [92]

Answer: The criteria or standards they will use.

Explanation: Project Charter is a major component of project management system,the project charter Describes the roles and responsibilities of the team members,the task descriptions,the time lines,it is an important and reference for both present and future projects.

The project Charter also sets the project deliverables with each mile stone,the criteria and standards through which the project deliverables associated with each milestone will be judged.

4 0
3 years ago
Other questions:
  • True or False: Entrepreneurs are willing to accept risks for an opportunity to earn a salary by producing a new, innovative prod
    11·1 answer
  • A 5.75 percent coupon bond with 10 years left to maturity is priced to offer a 6.5 percent yield to maturity. You believe that i
    12·1 answer
  • What subjects does TSA emphasize?
    11·1 answer
  • Consider a hypothetical economy in which onlycomputers and shoes are produced and in whichcomputer production is capital intensi
    10·1 answer
  • On June 1, CamCo received a signed agreement to sell inventory for ¥500,000. The sale would take place in 90 days. CamCo immedia
    14·1 answer
  • The balance sheet below is for the First Federal Bank. Assume the required reserve ratio is 20 percent.
    9·1 answer
  • Which of the following would result if a business purchased equipment with a 40% down payment in cash
    14·1 answer
  • An asset is acquired by signing a note payable. The note does not indicate an interest rate, and the fair value of the asset can
    8·1 answer
  • Suppose that an economy is currently experiencing a Contractionary Gap due to a recession. The government decides to help the ec
    5·1 answer
  • When the direct write-off method is used, an entry for bad debt expense is required Multiple choice question. when each sale is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!