The company maintained a line of credit during the year which shows a balance of $2,300 as
Fantastic news! We've Found the answer you've been seeking!
Question:
The company maintained a line of credit during the year which shows a balance of $2,300 as of October 2021. Wheel’s agreement with the bank is to pay 2% above the prime rate.
What is your expectation of interest rates for the 2021 year?
If you use the debt amount listed above,
what assumption are you making about the balance of debt for the year?
What procedures can the auditors do to estimate an interest rates and amounts?
Expert Answer:
Process of Planning Goal setting should always be the first step in the planning process it is the portion of the process that is sometimes overlooked and neglected but it should not be Before you put ... View the full answer
Posted Date:
