Amount of the short-term notes payable

Assignment Help Accounting Basics

Reference no: EM13156748

On December 31, 2006, Frye Co. has $2,000,000 of short-term notes payable due on February 14, 2007. On January 10, 2007, Frye arranged a line of credit with County Bank which allows Frye to borrow up to $1,500,000 at one percent above the prime rate for three years. On February 2, 2007, Frye borrowed $1,200,000 from County Bank and used $500,000 additional cash to liquidate $1,700,000 of the short-term notes payable. The amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2006 balance sheet which is issued on March 5, 2007 is ??

Reference no: EM13156748

Questions Cloud

Make sure that you show your work on each circumstance : ead the information in your notes and at WorldWideWebTax to decide. Make sure that you show your work on each circumstance and the overall benefit of standard versus itemizing.

Underpinning values and philosophy of mental health sector : Describe your understanding of the underpinning values and philosophy of the mental health sector.

Mean and standard deviation for number of times letter found : Find the mean and standard deviation for the number of times this letter will be found on a typical page of 2900 characters.

Explain why the transformed model meets the gauss-markov : find a transformation of the data to be able to use the same data to estimate a model that satisfies the Gauss-Markov assumptions. be clear and explicit about the process. clearly explain why the transformed model meets the Gauss-markov assumptio..

Amount of the short-term notes payable : The amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2006 balance sheet which is issued on March 5, 2007 is ??

Describe why dimerization of the cyclopentadiene : Explain why dimerization of the cyclopentadiene is the side reaction and discuss how to avoid this side reaction.

Implications of ethnicity or economics : Based on your experience or informed speculation, describe three implications of ethnicity or economics on how family members interact. Give specific examples.

Test for checking that the proportions that liked commercial : Conduct a test for checking that the proportions of women and men that liked commercial A are the same versus the two-sided alternative at the 5% level.

Tell us about the frequency overall : The mean, mode, median, range, and standard deviation for the Santa Fe SPSS data set were computed to be? Interpet those numbers within the context of the Santa Fe research. What does a mean of 3 tell us about the frequency overall?

User Account

All Pages