Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on february 20, 2016, dell corp. refinanced one de

On February 20, 2016, Dell corp. refinanced one debt (liability). The original due date of...

50.1K

Verified Solution

Question

Accounting

On February 20, 2016, Dell corp. refinanced one debt (liability). The original due date of this debt was July 1, 2016, but the new date for this debt after refinancing is July 1, 2020.

The financial statement date for this company was December 31, 2015. The 2015 financial statement was issued on March 1, 2016.

image

Questions:

Under U.S. GAAP, is this debt classified current or noncurrent liability in 2015 balance sheet?

Under U.S. GAAP, is this debt classified current or noncurrent liability in 2016 balance sheet?

Under IFRS, is this debt classified current or noncurrent liability in 2015 balance sheet?

Under IFRS, is this debt classified current or noncurrent liability in 2016 balance sheet?

1/1/2015 12/31/2015 2/20/2016 3/1/2016 Financial Statement Date Refinancing Date Financial Statement Issue Date 1/1/2015 12/31/2015 2/20/2016 3/1/2016 Financial Statement Date Refinancing Date Financial Statement Issue Date

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

You have identified the fact that a few children in the and some who are yet...

Basic Math
1.2K views

We must show our work 6. Pharmaceutical companies promote their prescription drugs using television advertising. In a...

Accounting
1.2K views

The following information pertains to the City of Williamson for 2017, its first year of legal...

Basic Math
1.2K views

12 Which statement is true Give an example to justify your choice a All functions...

Calculus
1.2K views

Find the general indefinite integral Use an upper case C for a any arbitrary constants...

Algebra
1.2K views

ich is the equation for a line with a y intercept has a slope of...

Accounting
1.2K views

Enunciado 1: En la demanda contra personas concursadas, la insolvencia del deudor debe ser probada...

Accounting
1.2K views

Estimating Savings.Angela's monthly disposable income is $1,910. She has monthly expenses of...

Accounting
1.2K views

Three different lease transactions are presented below for Cullumber Enterprises. Assume that all lease transactions...

Accounting
1.2K views

Tanner Corporation is considering the acquisition of a new machine that is expected to produce...

Accounting
1.2K views

Calculation of Cost of Goods Sold: Periodic Inventory System Prepare the cost of goods sold...

Accounting
1.2K views

Who are the major stakeholders of the Wells Fargo Bank ? What are the major...