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Kaylis [27]
3 years ago
11

Bravo Industries intends to retire $950,000 in short-term debt using proceeds from the sale of 30,000 shares of common stock. Th

e stock sells for $25 per share. How much of its short-term debt can Bravo exclude from current liabilities if the sale occurs after the balance sheet date but before the balance sheet issue
Business
1 answer:
harina [27]3 years ago
7 0

Answer:

the amount that should be excluded from the current liabilities is $750,000

Explanation:

The computation of the amount that should be excluded from the current liabilities is shown below;

= Number of shares in the common stock × selling price per share

= 30,000 shares × $25

= $750,000

Hence, the amount that should be excluded from the current liabilities is $750,000

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