Ask Question
25 October, 13:28

On September 1, 2021, Southwest Airlines borrows $40.3 million, of which $8.6 million is due next year. Show how Southwest Airlines would record the $40.3 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.)

+4
Answers (1)
  1. 25 October, 15:05
    0
    Answer and Explanation:

    The presentation of the liabilities side of the balance sheet is presented below:

    Southwest Airlines

    Liabilities side

    Balance sheet

    Current liability

    Current portion of the long term debt $8,600,000

    Long term liability

    Notes payable $31,700,000 ($40,300,000 - $8,600,000)

    Total liabilities $40,300,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On September 1, 2021, Southwest Airlines borrows $40.3 million, of which $8.6 million is due next year. Show how Southwest Airlines would ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers