answer.
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
Vera_Pavlovna [14]
2 years ago
10

At December 31, 2020, Redmond Company has outstanding three long-term debt issues. The first is a $2,000,000 note payable which

matures June 30, 2023. The second is a $6,000,000 bond issue which matures September 30, 2024. The third is a $12,500,000 sinking fund debenture with annual sinking fund payments of $2,500,000 in each of the years 2022 through 2026. Prepare the required note disclosure for the long-term debt at December 31, 2020.
Business
1 answer:
Kaylis [27]2 years ago
5 0

Answer:

Year             Amount ($) (Disclosure amount for long term debt)                            

2021                    0

2022             2,500,000

2023             4,500,000                

2024             8,500,000                  

2025             2,500,000

Explanation:

The question is to show the required note disclosure of Redmon Company's Long term Debt at December 31, 2020

In order to do this, the note disclosure will take into cognisance the

Year             Amount ($) (Disclosure amount for long term debt)                            

2021                    0

2022             2,500,000

2023             4,500,000                

2024             8,500,000                  

2025             2,500,000

Workings:

Disclosure for 2023 = Annual sinking fund payment + the notes payable maturity = (2,000,000 + 2,500,000)  

Disclosure for 2024 = Annual sinking fund payment + the notes payable maturity = (6,000,000 + 2,500,000)

You might be interested in
Assume the position of a consultant hired to assess the approach toward HR management taken by a client organization. What facto
SCORPION-xisa [38]

Answer and Explanation:

The factors which needs to be evaluated in determining whether an organization uses a traditional or strategic approach to managing its HR are the Responsibility for HR, Focus area, Role of HR, HR Initiatives, Time Horizon, Control, Job Design, Key Investments and Accountability

The specific questions that need to be answered are:

How are information and resources allocated and managed?

Is the HR strategy understood by all the employees?

Is the mission and strategy integrated with the organization's goals and objectives?

These questions should be asked to the upper management personnel who make strategic decisions in the company.

6 0
2 years ago
7. Total Cost for Savings Piggy bank with cash Dean is planning to purchase a new Nissan Altima which costs $26,865. He has save
son4ous [18]

Answer:

The monthly deposit is calculated using PMT function :

rate = 1.2%/2 (converting annual rate into monthly rate)

nper = 12 * 5 (5 years of deposits with 12 monthly deposits each year)

pv = -3200 (Amount put into account now. This is entered with a negative sign because it is a cash outflow)

fv = 26865 (Required value of account after 5 years)

PMT is calculated to be $379.70.

The monthly deposit is  $379.70.

7 0
2 years ago
Summer Dean was walking through the mall and found a gym bag lying on the ground. The decision Dean must make as to whether to k
suter [353]

Answer:

Ethics

Explanation:

Ethics also called moral philosophy involves how an individual systemises, defends and recommends the concept of right or wrong.

Summer is facing an ethical decision of either returning the bag or keeping it for herself. Her decision will be based on her definition of right or wrong.

If her moral philosophy is one that does not see theft as something that is wrong, she will decide to keep the bag. If on the other hand she sees keeping the bag that is not her own as wrong she will decide to return it.

6 0
2 years ago
Rhys Hoskins is the president of RH Corporation (RHC). RHC has provided the following partial listing of costs incurred during A
zimovet [89]

Answer:

$306,000

Explanation:

To determine manufacturing costs, consider only those cost that can be directly traced to the product manufactured and plant related costs.

<u>Total Manufacturing Cost Calculation :</u>

Factory Utilities                         $11,400

Indirect Materials                    $39,500

Direct Materials                     $166,400

Equipment Depreciation        $47,000

Direct labor                              $91,700

Total Manufacturing Cost    $306,000

5 0
2 years ago
Ben Anderson, the head of product development and product management at Recycline, says that at Recycline, "if you're interested
lisov135 [29]
Hihihihihihihihihihihihihiji
4 0
2 years ago
Other questions:
  • Timothy is a passionate speaker and has a political science degree. He is a natural leader and enjoys a challenge. Suzette also
    12·2 answers
  • Alex works as a customer service representative at an insurance company. Before starting his shift, Alex reviews issues from his
    5·2 answers
  • Mace Auto Parts Company sells to retail auto supply stores on credit terms of "net 60". Annual credit sales are $300 million (sp
    5·1 answer
  • A car company that puts more effort into measuring quality than total units sold most likely wants to excel at ________. employe
    9·1 answer
  • Lisa surveyed a sample group of people. Based on her survey, Lisa suggested to her company that they develop a customizable trav
    12·1 answer
  • Financial accounting is the process of identifying, measuring, analyzing, and communicating financial information needed by mana
    5·1 answer
  • Jack is considering a management position in an accounting firm. If Jack can’t negotiate a salary of at least $90,000, he plans
    12·1 answer
  • The 2015 American Time Use survey contains data on how many minutes of sleep per night each of 10,900 survey participants estima
    8·1 answer
  • Ronak is a project manager. He ensures that his project is completed on time by dividing the activities in the project into two
    6·2 answers
  • Spaniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 6
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!