Question

This continues the Pure Water, Inc., example from the Continuing Problem in Chapter 8. Pure Water, Inc., purchased some of its fixed assets during 201 2 using long-term debt. The following table summarizes the nature of this long-term debt. Assume the fiscal year ends on December 31 .



Requirements
1 . C alculate the interest expense that Pure Water, Inc., should accrue as of December 31 , 201 2. Round your answer to the nearest dollar. Use 365 days for the note payable.
2. Prepare the balance sheet presentation at December 31 , 201 2 for all long-term debt indicating the portion that should be classified as current and the portion that should be classified aslong-term.


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  • CreatedApril 29, 2014
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