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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?
Prepare an income statement for the year ended December 31, 2007, which includes amounts for gross profit, income before income taxes, and net income.
Francine is the VP of Rockledge INC. As a company officer, she has authority to sign checks for Rockledge. One day, Francine makes out a check drawn from Rockledges account and payable to Beluah Majors, a made-up name.
the company produced 4,400 units and recorded a depreciation expense of $22,000. What depreciation method did the company use?
Beginning with cash flows from operating activities, calculate the amount of free cash flows to all debt and equity capital stakeholders for 3M for 2006, 2007, and 2008.
The monthly payment on a 1,000,000 15 yr. mortgage at 6% is 8,438.57 per month. How much of that 1,000,000 on day 1 is deemed to be "current portion of mortgage payable"?
On June 30, 2012 Ghosh Company concludes that a customer's $4750 receivable (created in 2011) is uncollectible and that the account should be written off. Illustrate what effect will this action have on Ghosh's 2012 net income? Explain.
Explain the meaning of ‘integrity' and its importance in professional relationships such as those described in the case.
A company that makes organic fertilizer has provided the following data : The company's margin of safety in UNITS is closest to ?
At year-end, your company has cash of $11,600, receivables of $48,900, inventory of $37,900, and prepaid expenses totaling $5,100. Liabilities of $55,900 must be paid next year. What is your acid-test ratio?
Betty's Bakery is a start-up bakery that employs Betty, the owner, as well as one sales clerk, and one baker. Which cash receipt controls may be hardest to enforce in this environment
Depreciation Accounting - Straight-line depreciation was used throughout the machine's life. determine the depreciation expense for the fourth year of the machine's useful life.
?Doisneau 16-year bonds have an annual coupon interest of 11 percent, make interest payments on a semiannual basis, and have a $1,000 par value. If the bonds are trading with a market's required yield to maturity of 16 percent, are these premium or d..
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