Business, 26.02.2020 03:32 ineedhelp2322

On December 31, 2020, Nash Company has $7,024,000 of short-term debt in the form of notes payable to Gotham State Bank due in 2021. On December 28, 2021, Nash enters into a refinancing agreement with Gotham that will permit it to borrow up to 68% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $6,021,000 in May to a high of $8,014,000 in October during the year 2021. The interest cost of the maturing short-term debt is 15%, and the new agreement calls for a fluctuating interest at 1% above the prime rate on notes due in 2022. Nash’s December 31, 2020, balance sheet is issued on February 15, 2021.
Prepare a partial balance sheet for Nash at December 31, 2020, showing how its $7,024,000 of short-term debt should be presented. (Enter account name only and do not provide descriptive information.)
NASH COMPANY
Partial Balance Sheet
choose the accounting period
December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select a balance sheet section
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term DebtProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term DebtTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item
$enter a dollar amount
select a balance sheet section
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term DebtProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term DebtTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item
enter a dollar amount
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 01:00

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

Answers: 2

Answer

Business, 22.06.2019 01:30

For each example identify the most appropriate ctso

Answers: 3

Answer

Business, 22.06.2019 10:30

The card shoppe needs to maintain 21 percent of its sales in net working capital. currently, the store is considering a four-year project that will increase sales from its current level of $349,000 to $408,000 the first year and to $414,000 a year for the following three years of the project. what amount should be included in the project analysis for net working capital in year 4 of the project?

Answers: 3

Answer

Business, 22.06.2019 23:00

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?

Answers: 2

Answer

You know the right answer?

On December 31, 2020, Nash Company has $7,024,000 of short-term debt in the form of notes payable to...

Questions