Selected accounts from WooHoo Co.s adjusted trial balance for the year ended December 31 follow. Prepare the
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Selected accounts from WooHoo Co.’s adjusted trial balance for the year ended December 31 follow. Prepare the liabilities section of its classified balance sheet.
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Notes payable (due in 5 years) Accounts payable.... Bonds payable (due in 10 years). Machinery.... $ 3,000 Discount on bonds payable.. Wages payable..... Interest payable (due in 2 weeks). Sales tax payable..... $400 200 500 10,000 4,500 100 50
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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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