QUESTION 15
On January 1, 2019, Loveland Ski Company issued $1,000,000 of notes payable, of which $250,000 is due on January 1 for each of the next four years,
The proper balance sheet presentation on December 31, 2019 is
O A. Current liabilities, $500,000: Long-term liabilities, $500,000
O B. Current liabilities, $250,000; Long-term liabilities, $750,000
O C. Long-term liabilities, $1,000,000.
O D. Current liabilities, $1,000,000.

Abusiness cycle reflects in economic activity, particularly real gdp. the stages of a business cycle

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P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.