Answer:
Current liabilities $3.2 million
long-term liabilities =$16 million-$3.2 million-$3.2 million=$9.6 million
Explanation:
The amount classified as current liabilities as at 31st December 2018 is the portion of the loan repayable within a year,that the repayment due at 31st December 2019 which is $3.2 million.
The amount to be classified as long term liabilities is the balance of the loan after having taken out the payment in year 1 as well as the repayment to be made in year 2
The correct option is (c) note receivable
A formal credit arrangement between a creditor and debtor is called note receivable.
<h3>What receivable means?</h3>
Receivables, sometimes referred to as accounts receivable, are sums of money owing to a business by its clients for products or services that have already been provided or utilized but have not yet been paid for.
<h3>Is note receivable a debit or credit?</h3>
debit
Notes receivable typically have a debit balance. Debits increase notes receivable and credits decrease them, just like with other assets.
<h3>What type of account is notes receivable?</h3>
The value that a company is owed in promissory notes is recorded as notes receivable, which makes them an asset.
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Answer:
Peterson's finished goods inventory cost at December 31 under the variable costing method is $90,000
Explanation:
The computation of the Peterson's finished goods inventory cost is shown below:
= (Variable manufacturing cost ÷ units manufactured) × units difference
= ($630,000 ÷ 70,000 units) × 10,000 units
= $90,000
The units difference would be equal to
= Units manufactured - units sold
= 70,000 - 60,000
= 10,000 units
Answer: Raise additional capital by selling fixed Interest rate long term bonds
Explanation:
A firm can finance it's operations through equity or debts, the art of a firm financing it's operations through debts like bonds etc it's refered to as financial leverage.
A firm cannot increase it's financial leverage by selling common stock, neither through buying stock from his cash and financial leverage does relate with asset turnover.
