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Nostrana [21]
2 years ago
8

On December 31, 2020, Wildhorse Company had $1,211,000 of short-term debt in the form of notes payable due February 2, 2021. On

January 21, 2021, the company issued 23,700 shares of its common stock for $46 per share, receiving $1,090,200 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $120,800 cash, are used to liquidate the $1,211,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021. Show how the $1,211,000 of short-term debt should be presented on the December 31, 2020, balance sheet.
Business
1 answer:
podryga [215]2 years ago
7 0

Answer and Explanation:

The presentation is as follows;

<u>Particulars            Amount ($) </u>

Current Liabilities  

Notes payable      $120,800

Long term debt  

Notes payable refinanced in February 2021 $1,090,200

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The first-year NOI for an office building is $150,000. A lender is willing to provide financing up to a 1.5 debt-coverage ratio.
Hoochie [10]

Answer:

the maximum loan size is $1,278,335.62

Explanation:

The computation of the maximum loan size is as follows:

= (NOI first year ÷ debt coverage rate) × 1 ÷ (rate of interest) × (1 - 1 ÷ (1 + rate of interest)^number of years)

= ($150,000 ÷ 1.5) × 1 ÷ (6%) × (1 - 1 ÷ (1 + 6%)^(25))

= $1,278,335.62

hence, the maximum loan size is $1,278,335.62

We simply applied the above formula

5 0
2 years ago
How many european union countries use the euro as their official currency?
BlackZzzverrR [31]

Answer:

19

Explanation:

The euro is the sole currency of 19 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

6 0
3 years ago
Milano Gallery purchases the copyright on a painting for $420,000 on January 1. The copyright is good for 10 more years. The com
alex41 [277]

Answer:

Explanation:

The journal entries are shown below:

On January 1

Copyright A/c Dr $420,000

        To Cash A/c $420,000

(Being copyright is purchased)

On December 31

Amortization A/c Dr $42,000

          To Accumulated amortization A/c $42,000

(Being annual amortization is recorded)

The computation is shown below:

= Purchase value of copyright ÷  number of goods years

= $420,000 ÷ 10 years

= $42,000

6 0
2 years ago
The contribution margin is determined by subtracting _______.
sineoko [7]

Answer:

c. variable product and variable period cost from sales.

Explanation:

Contribution Margin is obtained by subtracting the total variable costs from the sales. This is also known as direct costing. Deducting fixed expenses from the contribution margin yields profit . Contribution margin is used in various ratios such as the contribution margin ratio and break even sales is also determined by using it sometimes. Contribution margin is a tool for managers as sales figures guide cost figures. The variable cost of goods sold varies directly with sales volume and the influence of production on profit is eliminated.by deducting only the variable product costs and not the variable period costs we get gross contribution margin. After deducting the variable period costs we get the contribution margin.

5 0
3 years ago
Companies monitor sustainability performance for several purposes, including organizational learning, improved decision-making,
Alex787 [66]

Among the factors or reasons listed above, companies also monitor performance for sake of Accountability.

<h3>What is Accountability?</h3>

Every corporation, and its entities and stakeholders must be accountable if they are to thrive.

This means that every person within the system must embrace responsibility for doing the right thing and accept the responsibility for not doing so as well.

A business can be accountable by:

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See the link below for more about Accountability:

brainly.com/question/980342

5 0
2 years ago
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