At December 31, 2018, Oldman Engineering’s liabilities included the following: $6 million of outstanding bonds that mature in 2025, but which are currently callable by bondholders. However, because current market interest rates are much higher than the coupon rate on the bonds, the bondholders are not expected exercise the call option.
A $2 million mortgage on its manufacturing building, which is due in June of 2019. However, on January 28th, before the issuance of 2018 financial statements, Oldman refinanced this mortgage by making a down payment of $400k and taking out a new mortgage for $1.6 million.
A $1.2 million note payable from the company’s bank which is due on March 31, 2019. The note is secured by the company’s inventory and accounts receivable. The company expects to refinance this note, but has not yet started the process to do so.
For each of the liabilities above, show how the amount would be classified in the December 2018 balance sheet:

Current Liability Non-Current Liability
a.
b.
c.

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of

20. to add body to a hearty broth, you may use a. onions. b. pasta. c. cheese. d. water.

1. revising for conciseness - eliminating flabby expressions,limiting long lead-ins, and dropping unnecessary fillerstime is money in any business environment. people want information communicated quickly and clearly. to make your writing more concise and understandable, avoid flabby expressions, long lead-ins, and unnecessary fillers. your audience will appreciate your brevity.1. if your writing contains a flabby expression like in view of the fact that, replace it with the word because / although / probably .for each of the following two sentences, choose the best revision.2. i am sending you this letter to inform you that we have experienced an unexpected surprise within our expense sheet, but we are positively certain we will solve it.1) we need to inform you that we have experienced an unexpected surprise with our expense sheet, but we are midway to an end result.2) we have identified a problem with our expense sheet, but we will solve it.3) i am sending you this letter to inform you that we have a problem with our expense sheet, but we are positively certain we have a solution.3. it is the user who should contact the center.1) everyone knows that it is the user who should contact the center.2) the user should contact the center.3) if there is a problem, the user should contact the center.read the following passage, and then answer the question.[1] you scheduled seven conference calls for this morning between 10 and 11 a.m. [2] generally, the company limits the number of conference calls to three per hour. [3] i’m letting you know that in the future, we should be more careful about scheduling.4. which revision limits the long lead-in in sentence 3? 1) in the future, we should be more careful about scheduling.2) i’m letting you know so that in the future we are more careful about scheduling calls.3) so that you know in the future, we should be more careful about scheduling.