Deere & Company’s 2018 10-K reports the following footnote relating to long-term debt for its equipment operations subsidiary. Deere’s borrowings include $300 million, 7.125% notes, due in 2031
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Deere & Company’s 2018 10-K reports the following footnote relating to long-term debt for its equipment operations subsidiary. Deere’s borrowings include $300 million, 7.125% notes, due in 2031
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- Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the following: $146,050—Unsecured note payable to bank due 2021. $517,500—Unsecured note payable to bank due 2023. $690,000—Unsecured note payable to bank due 2025. $103,500—Secured mortgage payable to bank due in equal installments 2021 through 2025. $184,000—Secured note payable to bank due in 2026. Prepare the required financial statement disclosure at December 31, 2020, indicating the amounts due in each of the next five years and thereafter. NotePayable Year 12021 Year 22022 Year 32023 Year 42024 Year 52025 Thereafter $146,050 Answer Answer Answer Answer Answer Answer 517,500 Answer Answer Answer Answer Answer Answer 690,000 Answer Answer Answer Answer Answer Answer 103,500 Answer Answer Answer Answer Answer Answer 184,000 Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer AnswerCullumber Inc. has the following general-purpose debt for the year ended December 31, 2023:8%, 2-year note, issued January 1, 2023 for $3650007.50% 5-year note, issued March 31, 2023 for $7870009%, 20-year bond, issued October 1, 2023 for $1950000Calculate the capitalization interest rate. 8.37% 8.33% 8.13% 6.08%Cicamore Company had the following information related to its current liabilities for the year ended December 31, 2022. Notes payable arising from 5-year bank loans, on which a security valued at P600,000 have been pledge as security, due on December 31, 2023. P500,000 Accounts payable, net of debit balances of P50,000 770,000 Trade notes payable due in 15 months 280,000 Salaries payable 90,000 Employee income tax withheld 11,000 Bonus and profit sharing payable 70,000 Liability for income taxes 250,000 Cash dividends payable 100,000 Share dividend payable 150,000 Dividend in arrears on preference shares 200,000 How much should Cicamore report as current liabilities in its December 31, 2022 statement of financial position?
- On March 1, 2016, VICO Corporation issued at 103 plus accrued interest, 1,000 of its 9%, P1,000 bonds. The bonds are dated January 1, 2016 and mature on January 1, 2026. Interest is payable semi-annually on January 1 and July 1. VICO paid transaction cost of P5,000. Based on the given information, how much would VICO realize as net cash receipts from the bonds Issuance? O A. 1,025,000 В. 1,030,000 O c. 1,040,000 O D. 1,045,000 E. 1,000,000On December 31, 2019, Potter Corporation issued €2,000,000, 6%, 5-year bonds for €1,837,750. The bonds were sold to yield an effective-interest rate of 8%. Interest is paid annually on December 31. The company uses the effective-interest method of amortization. Compute the December 31, 2020, amount of equity. Compute the debt to assets ratio at December 31, 2020. Compute times interest earned for 2020.CC had the following information related to its current liabilities for the year ended December 31, 2022. Notes payable arising from 5-year bank loans, on which a security valued at P600,000 have been pledge as security, due on December 31, 2023. P500,000 Accounts payable, net of debit balances of P50,000 770,000 Trade notes payable due in 15 months 280,000 Salaries payable 90,000 Employee income tax withheld 11,000 Bonus and profit sharing payable 70,000 Liability for income taxes 250,000 Cash dividends payable 100,000 Share dividend payable 150,000 Dividend in arrears on preference shares 200,000 How much should CC report as current liabilities in its December 31, 2022 statement of financial position?
- Cute Company disclosed the following information on December 31, 2021: Mortgage payable, issued on March 1, 2012, maturing after 10 years P1,500,000 Notes Payable P40,000 Deferred tax liability P10,000 Notes payable due to bank, 12% interest bearing note payable yearly,issued on August 31, 2021, maturing on August 31, 2022 P1,000,000 Compute for the current liabilities as of December 31, 2021Presented here are long-term liabity items for Marin Inc. at December 31, 2017. Bonds payable (due 2021) $870,000 Notes payable (due 2019) 79,000 30,000 Discount on bonds payable Prepare the long-term liabities section of the balance sheet for Marin inc. MARIN INC. Rabance Sheet (Part)DuPont reports in a recent balance sheet $598 million of 5.25 percent notes payable due in 2016.The company’s income tax rate is approximately 19 percent.a. Compute the company’s after-tax cost of borrowing on this bond issue stated as a total dollaramount.b. Compute the company’s after-tax cost of borrowing on this bond issue stated as a percentageof the amount borrowed.c. Describe briefly the advantage of raising funds by issuing bonds as opposed to stocks.
- Meghan Markle Co. had a tax rate of 25% and reported net income of $3,400,000 for the fiscal year ended December 31, 2021. The following details are from the balance sheet of Meghan Markle Co.: Long Term Debt: Bonds Payable, face value $1,000,000 (1,000 bonds at a face value of $1,000 each), issued in 2012, maturing September 30, 2027, 5%, convertible into common shares at the investor's option at the rate of eight shares per $1,000 bond. Bonds Payable, face value $3,000,000 (3,000 bonds at a face value of $1,000 each), issued in 2010, maturing June 30, 2035, 7%, convertible into common shares at the investor's option at the rate of 30 shares per $1,000 bond. Shareholders' Equity: Preferred Shares, 800,000 shares outstanding, $0.50 cumulative, convertible into common shares at the rate of one common share for each preferred share. Common Shares, 1,500,000 shares outstanding ADDITIONAL INFORMATION: Dividends for the cumulative preferred shares have been declared and paid up to date for…Assume Deere & Company’s 2016 10-K reports the following footnote relating to long-term debt. Deere’s borrowings include $200 million, 6.55% debentures (unsecured bonds), due in 2028 (highlighted below).Long-term borrowings at October 31 consisted of the following in millions of dollars: [Added in the picture] A recent price quote on Deere’s 6.55% debentures indicates that Deere’s bonds have a market price of 108.104 (108.104% of face value), resulting in a yield to maturity of 5.89%.How much cash would Deere have to pay to repurchase the 6.55% debentures at the quoted market price of 108.104? (Assume no interest is owed when Deere repurchases the debentures.) a. $200.000 millionb. $213.100 millionc. $211.780 milliond. $216.208 millionThe Canada Technology Corporation (CTC) financial statements below: CTC's long-term debt bears interest at 6%. During the year ended December 31, 2020, CTC's times-interest-earned ratio was: a) 100 times b) 110 times c) 117 times d) 125 times