The following is a partial list of account balances for VanBuskirk, Inc. as of December 31, 20B

Question:

The following is a partial list of account balances for VanBuskirk, Inc. as of December 31, 20B
Required:
Accounts Payable.............................................................. $5,000
Accounts Receivable.......................................................... $6,000
Bonds Payable (100% due in 10 years)...................................... $40,000
Mortgage Payable (10%) due within one year)........................... $10,000
Notes Payable (due in 6 months).............................................$2,000
Salaries Payable...................................................................$800
Sales Revenue................................................................. $49,000
Income Taxes Payable.........................................................$8,000
Unearned Revenue...............................................................$800
Prepare the liability section of VanBuskirk's classified for December 31, 20B?
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...