Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $...

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Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $ 6,800 2,400 13,800 8,300 Discount

Enviro Company issues 11.00%, 10-year bonds with a par value of $440,000 and semiannual Interest payments. On the issue date,

On January 1, MM Co. borrows $430,000 cash from a bank and in return signs an 4% installment note for five annual payments of

business accounting

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Answer 1

Answer #1

WOOHOO COMPANY Liabilities Section of Balance Sheet December 31
Current liabilities
Accounts payable	$2,400
Wages payable	1,150
Interest payable	575
Sales tax payable	525
Total current liabilities		$4,650
Long term liabilities
Notes payable	6,800
Bonds payable	13,800
Discounts on bonds payable	-2,300
Total long term liabilities		18,300
Total liabilities		$22,950

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Answer 2

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