Blue Socks’ account balances at June 30, 2014, include the

Blue Socks' account balances at June 30, 2014, include the following:


Data Table 6,500 Cash Long-term notes payable Accounts payable Current portion of long-term notes payable Common stock P


Requirement
1. Prepare the liabilities section of Blue Socks' balance sheet at June 30,2014.

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...

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