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July 31, 2024, Bramble Co. has a $60000015-year mortgage outstanding. Over the next year, the company will make 12 monthly payments of $6000, representing $40200
July 31, 2024, Bramble Co. has a $60000015-year mortgage outstanding. Over the next year, the company will make 12 monthly payments of $6000, representing $40200 of interest and $31800 of principal repayment. Which of the following best represents how the mortgage will be reported on the July 31,2024 , statement of financial position? Current liabilities Non-current liabilities $72000$528000 $72000$568200 $31800$568200 $31800$528000 Carla Vista Inc. issues 120000 shares at $11 / share in January. Later that year the company repurchases 10800 of these shares at $10 per share. The effect of this is an increase in retained earnings by $10800. an increase to the contributed surplus account of $10800. a decrease to the share capital account of $108000. a decrease to total shareholders' equity of $118800
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