Business, 07.10.2019 21:30 santileiva123199

Halifax corporation has a december 31 fiscal year-end. as of december 31, year 1, the company has a debt covenant violation that results in a 10-year note payable to nova scotia bank becoming due on march 1, year 2. halifax will be required to classify the 10-year note payable as a current liability unless it obtains a waiver from the bank:

(a) prior to issuance of its year 1 financial statements that gives the company until january 1, year 3, to rectify the debt covenant violation.
(b) prior to december 31, year 1, that gives the company until january 1, year 3, to rectify the debt covenant violation.
(c) prior to issuance of its year 1 financial statements, that gives the company until june 30, year 2, to rectify the debt covenant violation.
(d) prior to december 31, year 1, that gives the company until june 30, year 2, to rectify the debt covenant violation.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 18:30

What is the communication process? why isnt it possible to communicate without using all the elements in the communication process?

Answers: 3

Answer

Business, 22.06.2019 10:00

University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.

Answers: 1

Answer

Business, 22.06.2019 10:50

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

Answers: 3

Answer

Business, 22.06.2019 16:40

Shawn received an e-mail offering a great deal on music, movie, and game downloads. he has never heard of the company, and the e-mail address and company name do not match. what should shawn do?

Answers: 2

Answer

You know the right answer?

Halifax corporation has a december 31 fiscal year-end. as of december 31, year 1, the company has a...

Questions