Question

6. At December 31, MediStat Precision Instruments owes $52.000 on Accounts Payable, Salaries Payable of $12,000, and Income Tax Payable of $10,000. MediStat also has $300.000 of Bonds Payable that were issued at face value that require payment of a $35,000 Installment next year and the remainder in later years. The bonds payable require an annual interest payment of $4,000, and MediStat still owes this interest for the current year. Report MediStat's liabilities on its classified balance sheet on December 31, 2018 MediStat Precision Instruments Balance Sheet (Partial) December 31, 2018 Liabilities . [ @ (9) (10) (1) O O Total Liabilities Total Long-Term Liabilities Current Liabilities: Long-term Liabilities: Total Current Liabilities (2) O O Accounts Payable O Bonds Payable O Current Portion of Bonds Payable Income Tax Payable O Interest Payable Salaries Payable (3) O Accounts Payable O Bonds Payable O Current Portion of Bonds Payable O Income Tax Payable Interest Payable Salaries Payable (4) O (6) O Accounts Payable Bonds Payable Current Portion of Bonds Payable O Income Tax Payable Interest Payable Salaries Payable (5) O O Accounts Payable O Bonds Payable O Current Portion of Bonds Payable O Income Tax Payable O Interest Payable Salaries Payable Accounts Payable Bonds Payable Current Portion of Bonds Payable Income Tax Payable Interest Payable Salaries Payable

Answer 1

MediStat Precision Instruments
Balance Sheet (Partial)
December 31, 2018
Liabilities
Current Liabilities:
Accounts payable	$52,000
Salaries payable	$12,000
Income tax payable	$10,000
Current portion of Bonds payable	$35,000
Interest payable	$4,000
Total Current liabilities		$113,000
Long-Term Liabilities:
Bonds Payable               [$300,000 - $35,000]	$265,000
Total Long-term Liabilities		$265,000
Total Liabilities                [$113,000 + $265,000]		$378,000