Presented here are long term liability items for Felkner Inc at December 31, 2010 Prepare the long term liabilities section of the balance sheet for Felkner Inc Bonds payable, due 2014 $700,000 Notes payable, due 2012 80,000 Discount on bonds payable 21,000 ...

Longterm liabilities Bonds payable ...

Presented here are long-term liability items for Felkner Inc. at December 31, 2010. Prepare the long-term liabilities

Question:

Presented here are long-term liability items for Felkner Inc. at December 31, 2010. Prepare the long-term liabilities section of the for Felkner Inc.
Bonds payable, due 2014 .......$700,000
Notes payable, due 2012 .........80,000
Discount on bonds payable ........21,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...