Business, 11.12.2019 21:31, kyandrewilliams1
Company baldwin invested $51,960,000 in plant and equipment last year. the plant investment was funded with bonds at a face value of $34,303,515 at 13.6% interest, and equity of $17,656,485. depreciation is 15 years straight line. for this transaction alone which of the following statements are true? five of these are correct which five are correct? .
since the new plant was funded with debt and equity, on the balance sheet retained earnings decreased by $17,656,485, the difference between the investment $51,960,000 and the bond $34,303,515.
depreciation increased by $3,464,000.
on the balance sheet, long term debt changed by $34,303,515.
cash went up when the bond was issued by $34,303,515.
cash was pulled from retained earnings to cover the $17,656,485 difference between the plant purchase and bond issue.
on the balance sheet, plant & equipment increased by $51,960,000.
buying the plant had no net effect on the cash account, because the plant was paid for by the bond plus retained earnings.
cash went down by $51,960,000 when the plant was purchased.
Answers: 1
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