At the beginning of the year, Shinedown, Corp. had a long-term debt balance of $46,755. During the year, the company repaid a long-term loan in the amount of $12,630. The company paid $4,795 in interest during the year, and opened a new long-term loan for $11,145. How much is the ending long-term debt account of the company’s balance sheet? $53,105 $48,240 $45,270 $50,065 $6,280

118. Subject  :- Accounting

Ellen Company loaned $10,000 cash to Ann Company on August 1, Year 1. The loan had a one year term and a 6% annual interest rate. Principal and interest are payable at maturity. Match the amounts shown in the right column with Ellen Company's financial statement items that are shown in the left column. Assume that the company's balance sheet date is 31st December each year

Listed below are the current liability section and Note 7 of the Year 7 balance sheet of Joli Roma Corporation (the Company), a major oil company. $ millions Year 7 Year 6 Current Liabilities Current portion of long-term obligations Short-term obligations Accounts payable Accrued liabilities Taxes payable (including income taxes) $175 $89 691 530 2,996 3,196 1,046 1,099 1,289 997 $6,197 $5,911 Note 7 Short-Term Obligations The Company's "short-term obligations" consist of notes payable and commercial paper. Notes payable as of December 31, Year 7, totaled $102 million at an average annual interest rate of 5.7%, compared with $29 million at an average annual interest rate of 5.7% at year-end Year 6. Commercial paper borrowings at December 31, Year 7, were $839 million at an average annual interest rate of 5.7% compared with $260 million at an average annual interest rate of 5.9% as of December 31, Year 6. Bank lines of credit available to support existing commercial paper borrowings of…

104.

11). rosewood company made a loan of $12,600 to one of the company's employees on april 1, year 1. the one-year note carried a 6% rate of interest. what is the amount of interest revenue that rosewood would report in year 1 and year 2 respectively?

answer in text form please (without image)

During Year 1, its first year of operations, Benitez Co. reported sales of $360,000. At the end of Year 1, the company estimated its warranty obligation at 2% of sales. During Year 1, the company paid $4,800 cash to settle warranty claims. Which of the following statements is true? Multiple Choice Warranty expenses would decrease net earnings by $7,200 in Year 1. All of these answer choices are correct. The warranties payable account has a balance of $2,400 at the end of Year 1. Cash decreased by $4,800 as a result of the accounting events associated with warranties in Year 1.

Grant Co. had the following liabilities at December 31, the end of its fiscal year: Accounts Payable $56,000 Salaries Payable 12,200 Unearned Fees 8,900 Income Taxes Payable 3,200 Notes Payable 240,000 The note payable is an 8-year note with $30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company. Grant Co. Balance Sheet December 31 Current liabilities: Total current liabilities: Long-term liabilities: Total liabilities

Current portion of long-term debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 December 31 Current Year Preceding Year Total long term-debt $784,700 $431,600 Current portion (227,600) (211,900) Long-term debt $557,100 $219,700 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? million b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt? million Increase c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year? million