On October 1st, FLY Tech, an Airline maintenance company, borrows $2,500,000 cash from Bank of America to expand operations. FLY signs a one year, 3% promissory note. FLY's year-end is December 31.
6. How was the loan classified on the company's December 31, year 1 balance sheet?
A. Current liability
B. Long term liability
C. Note disclosure only
D. Stockholders' Equity
7. How was the loan classified on the company's December 31, year 1 statement of cash flow?
A. Operating activity
B. Investing activity
C. Financing activity
D. Not shown on the statement of cash flows
8. $. How much interest should be accrued on December 31 of the first year (assume no previous entry
was recorded for interest on the loan)?

An outside manufacturer has offered to produce 60,000 daks and ship them directly to andretti's customers. if andretti company accepts this offer, the facilities that it uses to produce daks would be idle; however, fixed manufacturing overhead costs would be reduced by 75%. because the outside manufacturer would pay for all shipping costs, the variable selling expenses would be only two-thirds of their present amount. what is andretti's avoidable cost per unit that it should compare to the price quoted by the outside manufacturer?

Kyle and alyssa paid $1,000 and $4,000 in qualifying expenses for their two daughters jane and jill, respectively, to attend the university of california. jane is a sophomore and jill is a freshman. kyle and alyssa's agi is $135,000 and they file a joint return. what is their allowable american opportunity tax credit after the credit phase-out based on agi is taken into account?

You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400