On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities

On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 6E: Short-Term Debt Expected to Be Refinanced On December 31, 2019, Excello Electric Company had 1...

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