What amount of the note payable should largo include

Assignment Help Financial Accounting
Reference no: EM131106538

On December 31, 2011, Largo, Inc. had a $750,000 note payable outstanding, due July 31, 2012. Largo borrowed the money to finance construction of a new plant. Largo planned to refinance the note by issuing long-term bonds. Because Largo temporarily had excess cash, it prepaid $250,000 of the note on January 12, 2012. In February 2012, Largo completed a $1,500,000 bond offering. Largo will use the bond offering proceeds to repay the note payable at its maturity and to pay construction costs during 2012. On March 3, 2012, Largo issued its 2011 financial statements.

What amount of the note payable should Largo include in the current liabilities section of its December 31, 2011 balance sheet?

Reference no: EM131106538

Questions Cloud

Prepare hingess journal entry : Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hinges’s journal entry.
Draw context-level data flow diagram for course registration : Draw a context-level data flow diagram for the "Courses Registration" system using the following items. Explode the above context-level diagram by drawing the logical data flow diagram level 0 showing all the major processes using the following ite..
What amount should acme report : Acme had five employees, each of whom earned $20,000 during 2011. In its December 31, 2011 balance sheet, what amount should Acme report as accrued liability for unemployment claims?
Prepare arantxas journal entries : Prepare Arantxa's journal entries to record these transactions using the cost method.
What amount of the note payable should largo include : What amount of the note payable should Largo include in the current liabilities section of its December 31, 2011 balance sheet?
What amount should fenn report for net sales : What amount should Fenn report for net sales in its income statement for the month of December 2011?
Intrinsic value and time value of option : a. Is the option currently 'in' or 'out' of the money? b. What is the intrinsic value and the time value of the option? c. What is the break-even future stock price associated with the options?
What should be hancocks 2015 earnings per common share : Net income for the year ended December 31, 2015 was $1,360,000. What should be Hancock's 2015 earnings per common share, rounded to the nearest penny?
Prepare sprinkle''s journal entries to record : Prepare Sprinkle's journal entries to record these transactions using the cost method.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd