long-term liabilities
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A: Long term debt to total asset is a coverage ratio that gives the long term financial position of the…
Q: Problem 17-6 (Static) Determine the PBO; plan assets; pension expense; two years (LO17-3, 17-4,…
A: Defined benefit plans are those contribution plans which are made for the benefit and wellbeing of…
Q: Problem 17-6 (Static) Determine the PBO; plan assets; pension expense; two years [LO17-3, 17-4,…
A: 1. Particulars Amount Beginning balance of PBO on Jan 1, 2021 $0 Service cost 150 interest…
Q: 6. A loan of $2000 is to be repaid with annual payments of $200, $150, and P, respectively at the…
A: Laon amortization schedule means where repayment during the life of loan is written with interest.
Q: onsider the following schedule: (Same Schedule as problém 8, Pepeated agan nere) nnual withdrawal of…
A: Future value of investment depends on time and interest rate and grow with interest and time.
Q: 6. Trade receivables are classified as current assets when they are reasonably expected to be…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Current Liabilities PROBLEM 1: TRUE OR FALSE 6. Financial liabilities may be subsequently…
A: Current Liabilities: Current Liabilities - It is financial obligations of the company that are to…
Q: 16. Statement I: The interest rate to be used to compute for the interest income on a long-term…
A: Market interest rate fluctuates over the life of the bond and reflects the market sentiments and is…
Q: A 13.2% P600,000 note payable was issued by Robin Company on March 1, 2020. The principal and…
A: The current liability represents the amount that is payable within a year from the reporting date.…
Q: 12.4 Which of the following is not a characteristic of a short-term note payable?A. Payment is due…
A: Liabilities are the dues and obligations of the business, which needs to be paid out by the…
Q: Part 1: New Lease Accounting – IFRS 16 Leases Effect Analysis. Q: Discuss the effects of the new…
A:
Q: Question 9 Notes payable paid within a year should be classified as a long term liability. True…
A: Liabilities payable with in a time period of one year are considered as current liabilities and…
Q: Statement I: If, at the reporting date, the credit risk of a receivable has not increased…
A: Option (c) i.e. 1 out of 3 statements are incorrect, is the correct answer.
Q: Problem 5 EFFECTIVE INTEREST RATE. Charles Corporationb annual interest. Principal and interest is…
A: The effective annual rate of interest is the actual or the real rate of interest paid or received…
Q: Assuming a 360-day year, when a $15,586, 90-day, 7% interest-bearing note payable matures, total…
A: 15586 + 15586*90/360*7% = 15859
Q: Parts a–c for each of the following cases. Answer parts a–c for each of the following cases.…
A: Future value (FV) is the value of a current asset at a future date based on an assumed rate of…
Q: Calculate the Rate of Return on Investment for Company 2 for the year ending 2019.
A: ROI: It is the return generated from the investments made by a company or an individual.
Q: QUESTION 7 On April 1, 2020, Balboa Company invests $50,000 in a 6-month CD that pays an annual…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: Note: answer it " all " correctly. Justify your answer by showing solution of your choice If not I…
A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: 12. The assumption of a stable interest expense per year is inherent under which of the following…
A: Bonds are a form of debt taken or loan taken by the company, on which it has to pay regular interest…
Q: Details for one of the loan of BB Company that is probably impaired during the period is as follows:…
A: At reporting date December 31, 2021, There is change in 12- month probability of default and entity…
Q: A debt of $13,700 with interest at 5% compounded semi-annually is repaid by payments of $1,950…
A: Debt is $13700 Interest rate is 5% Compounded semi annually Payments (PMT) made at the end of every…
Q: On January 1, 2020, Bridgeport Company contracts to lease equipment for 5 years, agreeing to make a…
A: As per US GAAP, the implicit rate is known by the lessee. Therefore, implicit rate of 10% is used by…
Q: January 1, 2020, Bridgeport Company contracts to lease equipment for 5 years, agreeing to make a…
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Q: Question 3 Assume the following spot rates. Year Spot rate 1 3 2 4.5 3 5.5 Calculate…
A: The rate which represents the yearly rate from an asset like bond or currency will be generated in…
Q: al payments of $21,980, based on an interest rate of 9% are to be made every December 31, beginning…
A: Given Annual future value payments = $ 21980 r= 9% n= 6yrs Present value of note = FV* Present…
Q: Exercises: 1. What is the principal amount if the amount of interest at the end of 2 ½ year is P 4,…
A: Given: Interest rate = 6% per annum Time period = 2.5 years Interest amount for 2.5 years = P4,500
Q: 0-90 days 91-180 days 180+days Total Assets 15000 25000 60000 100,000 Liabilities &NVW 35000 15000…
A: ISG = ISA -ISL = 12% of 25000 - 9% of 15000 = 3000-1350 = 1650 Note: ISG :…
Q: [Question 6 An ordinary annuity is best defined as __________________. Select one: A. equal…
A: Annuity means a series of equal amounts of deposits at the same point of point at each definite…
Q: Part 1: New Lease Accounting – IFRS 16 Leases Effect Analysis. What are the top three industries…
A: The question has multiple subparts.Only the first question can be answered since it consists of…
Q: Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly…
A: Payment per period can be calculated using PMT function in excel. PMT(rate, nper, pv, [fv],…
Q: QUESTION 3: a) RM1,000 is invested on the 24" of February 2021 at a simple interest rate of 7% per…
A: Honor code: Since you have asked multiple questions, we will solve the first question for you. If…
Q: A loan of $1,000 is to be repaid with annual payments of $50, $100, $1,000 and P at the end of the…
A: Given, Loan = $1000 Annula Payments = $50, $100, $1000 and P Interest Rate = 10%
Q: See the attached photo for the problem Required: a. Compute the total current liabilities on…
A: Current Liabilities Current Liabilities of the business which can be determined by within one year…
Q: Exercise 17. Compounding More Than Once a Year. Use the appropriate compound interest formula to…
A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…
Q: I = P × R × T, where I = interest calculated, P = principal, R = annual interest rate, and T =…
A: Interest is calculated on principal amount on the agreed interest rate for the specified period.
Q: QUESTION 25 How long must a capital asset be held to qualify for long term treatment? O A. Six…
A: As per IRS An capital asset is qualified for short term or long-term treatment on basis of time…
Q: Problem 9-19 (IFRS) January P600,000. As a result of a restructuring agreement on 1, 2021, the…
A: FV = present value of future cash flows @ market rate
Q: PROBLEM 3 As a result of a restructuring agreement on January 1, 2018, First Bank agreed to the…
A: Note: It is assume that carrying amount of note payable is P 8,000,000.
Q: 0-90 days 91-180 days 180+days Total Assets 15000 25000 60000 100,000 Liabilities &NW 35000 15000…
A: Since you have multiple sub questions, so we give you the first 3 sub questions solutions. If you…
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- Obligations payable within one year or one operating cycle, whichever is longer, are; Select one: a. Long-term Liabilities b. Short-term investments c. Long-term Note Payable d. Current LiabilitiesCurrent liabilities are a.payable if a possible subsequent event occurs b.due, but not payable for more than one year c.due and receivable within one year d.due and to be paid out of current assets within one yearWhat are liabilities that usually will be due in more than one year called? Group of answer choices long-term liabilities revenue liabilities investment liabilities current liabilities
- What are liabilities that will be due within a short time (usually one year or less) and that are to be paid out of current assets called? Group of answer choices equity liabilities current liabilities fixed liabilities contra liabilitiesCurrent liabilities a. May include contingent liabilities.b. Include obligations payable within one year or one operating cycle, whichever is shorter.c. Can be satisfied only with the payment of cash.d. Are preferred by most companies over long-term liabilities.Liabilities that will be due within one year or less and that are to be paid out of current assets are called current liabilities. True False
- Question Content Area Assuming a 360-day year, when a $15,586, 90-day, 7% interest-bearing note payable matures, total payment will be a.$1,091 b.$16,677 c.$15,859 d.$27352. A note receivable in installment at the end of each period: Group of answer choices shall be presented as current asset (total carrying value) at all times. nominal interest received will increase in the future. collection to principal shall reduce the amount of interest to be received in the future. shall be presented as noncurrent asset (total carrying value) at all times.21 Details for one of the loan of BB Company that is probably impaired during the period is as follows: The company made a loan of P40,000,000 to a customer with similar credit risk to BB Company on January 1, 2021. Interest is receivable on this loan at the end of each year at 2% per annum for the next five years. The loan was properly recorded and classified as amortized cost. The company made and initial assessment of the loan and the total expected credit losses over the life of the loan was P1,000,000. The discount rate applicable was at 2%. On January 1, 2021, the probability of default over the next 12 months was 5%. At December 31, 2021, there was a significant increase in the credit risk on the loan made by BB Company, the expert assessed that the total expected credit losses over the life of the loan was increase to P2,200,000. The discount rate applicable was at 2%. How much is the balance of the allowance for credit losses as of December 31, 2021?
- Current liabilities are due a.but not payable for more than one year b.and receivable within one year c.but not receivable for more than one year d.and payable within one yearQUESTION 40 On January 1, 2020, Smith Company signed a six-year Note for the acquisition of equipment. Annual interest and principal payments of $21,980, based on an interest rate of 9% are to be made every December 31, beginning with December 2020. Compute the value of the Note at 1/1/20. Following are appropriate factors from tables: Table % / n Present Value of annuity due $1 Present Value of ordinary annuity of $1 Present value of $1 Future Value of ordinary annuity of $1 9%/6 4.88965 4.48592 .59627 7.52333 $101,975.34 $98,600.52 $107,474.51 $131,880PROBLEM 3As a result of a restructuring agreement on January 1, 2018, First Bank agreed tothe following provisions: • The principal obligation is reduced to P7,000,000.• The accrued interest of P640,000 is forgiven.• The date of maturity is extended to December 31, 2021.Annual interest of 10% is to be paid for 4 years every December31.The present value of 1 at 8% for 4 periods is 0.735 and the present value of anordinary annuity of 1 at 8% for 4 periods is 3.31.Requirement:a. What is the gain on extinguishment of debt for 2018?b. What is interest expense for 2018?