Question
IF Additional loan of $500,000 of long term loan was taken out to help finance was purchase of certain manufacturing equipment for $600,000 Loan repayable
IF
- Additional loan of $500,000 of long term loan was taken out to help finance was purchase of certain manufacturing equipment for $600,000
- Loan repayable at $100,000 per annuam
the company must maintain a maximum debt to equity ratio of 3:1, and its financial statements must comply with ASPE, if it breached agreement, the bank has the ability to call for the loan in full.
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
