Bank should be shown on the company balance sheet

Assignment Help Financial Management

Reference no: EM131814941

Perfunctory Engineering uses a calendar year as its financial year. The company borrowed $200,000 from a bank on December 1, 2014. The agreement requires that the total amount be repaid on February 28, 2015 along with the $6,000 of interest ($2,000 each month) for the three month loan. On January 1, 2015 what total amount owed to the bank should be shown on the company's balance sheet?

Reference no: EM131814941

Questions Cloud

What is the total cost of borrowing over the life of bond : the proper statement of financial position presentation for the liability for bonds payable

What is the accounting cycle : What is the accounting cycle? The accounting cycle is the process by which companies produce their financial statements for a specific period.

How the technology we are learning could benefit a business : Write a research paper about how the technologies we are learning could benefit a business.

Find the new optimal consumption bundle : Now assume that the price of good x increases to 6. Find the new optimal consumption bundle and show it in a graph.

Bank should be shown on the company balance sheet : what total amount owed to the bank should be shown on the company's balance sheet?

The purpose of doing a financial analysis : The purpose of doing a financial analysis is all of the following? except:

Find the optimal quantities of good x and y : Find the optimal quantities of good x and y that the consumer is going to consume. In your answer, reference the Marginal Rate

To what extent is ford''s financial health affected : To what extent is Ford's financial health affected by fiscal and monetary policy? Please give at least one specific example.

Determine alternative treatment of deferred revenues : Journalizing the alternative treatment of deferred revenues On October 1, 2016, Amazing Landscaping collected $30,000 in advance from customers for landscaping.

User Account

All Pages