EBK SOUTH-WESTERN FEDERAL TAXATION 2019
42nd Edition
ISBN: 9781337671927
Author: Raabe
Publisher: Cengage Learning
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Everett Corporation started the year with long-term debt of $85,000, which
represents the principal balance of a loan payable to Sunrise Bank. During the year,
the company made total payments of $20,400, which included $6,400 in interest.
Additionally, the company took out a new loan of $14,000.
Determine the value of ending long-term debt.
A company has variable costs of 75% of sales, current sales of $800,000, and
fixed costs of $150,000. What is the amount of sales required to achieve a net
income of $70,000?
Please give me correct answer this financial accounting question
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