Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 27, 2024

Pincus Company obtained a line of credit from First National Bank that is renewable annually. How will Pincus classify the line of credit borrowings on

Pincus Company obtained a line of credit from First National Bank that is renewable annually. How will Pincus classify the line of credit borrowings on its balance sheet?

Equity

Short-term liability

Short-term investment

Long-term liability

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Thomas Dyckman, Robert Magee, Glenn Pfeiffer

3rd Edition

1934319600, 978-1934319604

More Books

Students also viewed these Accounting questions

Question

★★★★★

Superb Mobile Homes reported the following in its financial statements for the year ended December 31, 2012: Requirement 1. Determine the following for Superb Mobile Homes during 2012: (a)...

Answered: 1 week ago

Question

★★★★★

Prior to 1986, all consumer interest expense was deductible. In 1986, Congress eliminated the deduction for consumer interest expense, including interest paid on car loans and credit card balances....

Answered: 1 week ago

Question

★★★★★

What are the eight attributes necessary to frame the project? Why is each important?

Answered: 1 week ago

Question

★★★★★

1. Jim Adams posts the column totals and individual transactions in "Other" columns to the appropriate general ledger account and updates each general ledger account balance. He places a posting...

Answered: 1 week ago

Question

★★★★★

Required information Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3, LO2-4] (The following information applies to the questions...

Answered: 1 week ago

Question

★★★★★

10.Returns to Scale A company faces the following costs in addition to fixed costs of $50,000. How would you describe the returns to scale for this company looking only at the quantities below?...

Answered: 1 week ago

Question

★★★★★

"Bathworks Company wants to estimate its ending inventory based on the following data: beginning inventory of $70,000, net sales revenue of $195,000, purchases of $140,000, and a normal gross margin...

Answered: 1 week ago

Question

★★★★★

what were behind the sad and beautiful stories of these establishments? when one fails in business, what was missing? what went wrong? when one succeeds, what are the trade secrets?

Answered: 1 week ago

Question

★★★★★

You are in the role of a hacker trying to break down a hash table. The information collected so far indicates the hash table uses Quadratic Probing with h(k, i) = ((k+12) mod m) for collision...

Answered: 1 week ago

Question

★★★★★

* Question Completion Status: Moving to the next question prevents changes to this answer. Question 14 Question 14 of 60 2 points Save Ansver TG Mining has 100 000 shares outstanding and just...

Answered: 1 week ago

Question

★★★★★

+ QUESTION 2: A. From the below information Calculate Working Capital. Debtors $ 55,000 Inventories $ 15,000 Accounts Payable $ 12,000 Cash $ 4,000 Accounts Receivable $ 8,000 Creditors $ 16,500...

Answered: 1 week ago

Question

★★★★★

Based on the facts of the case, at which stage would you categorize teamwork at Facebook? Base your answer on the team development stages in the text.

Answered: 1 week ago

Question

★★★★★

There are four team structure components that along with team dynamics and development, affect team performance. Which of the four components does the case feature with examples?

Answered: 1 week ago

Question

★★★★★

Describe the team dynamics at Facebook.

Answered: 1 week ago

Previous Question Next Question