The adjusted trial balance for the Hass Corporation at the end of 2018 contains the following account:
Question:
The adjusted trial balance for the Hass Corporation at the end of 2018 contains the following account:
Prepare the long-term liabilities section of the balance sheet. Indicate the proper balance: sheet classification for accounts listed above that do not belong in the long-term liabilities section.
$ 25,000 Bond Inerest Payable 600.000 9% Bonds Payable due 2020 10% Bonds Payable due 2019 19,000 Discount on 9% Bonds Payable Premium on 8% Bonds Payable 170,500 Zero-Coupon Bonds Payable due 2021 8% Bonds Payable due 2023 500.000 2.000 100.000
Step by Step Answer:
Current liabilities Bond interest payable Current maturities of long...View the full answer
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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