Any Current portion of mortgage payable should be reported in current liability in the balance sheet.
Where is the current portion of mortgage payable reported on the balance sheet?
True or False... The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under long-term liabilities
True or False... The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under long-term liabilities
True or False... The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under long-term liabilities
The portion of a loan payable after twelve months is shown on the balance sheet as: Select one: a. a current loan payable b. either current or non-current, at the discretion of management c. a non-current loan payable d. shareholders' equity
24. The balance in Premium on Bonds Payable a. should be reported on the balance sheet as a deduction from the related bonds payable b. should be allocated to the remaining periods for the life of the bonds by the straight- line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method c. would be added to the related bonds payable on the balance sheet d. should be reported...
Balance Sheet Sept. 30, 2020 Current Liabilities: Current portion of LTD Interest Payable Long-term Liabilities: Bonds Payable Less Current Portion re to search Dallas Clothing Company issued $400,000 of 6% serial bonds on July 1, 2019, at face value. The bonds are dated July 1, 2019; they call for semiannual interest payments on July 1 and January 1; and they mature at the rate of $100,000 per year, with the first maturity date falling on July 1, 2020. The company's...
Exercise 10-15 Marin Inc. reports the following liabilities (in thousands) on its January 31, 2017, balance sheet and notes to the financial statements. $4,445.0 Mortgage payable 1,618.0 Operating leases 1,366.0 Notes payable (due in 2020) 2,102.0 Salaries and wages payable Accounts payable $6,750.0 2,493.0 Accrued pension liability Unearned rent revenue 360.0 590.0 Bonds payable Current portion of mortgage payable Income taxes payable 2,212.0 Notes payable (due in 2018) 278.0 Unused operating line of credit Warranty liability-current 2,985.0 3,500.0 1,911.0 Identify...
Cash $28,784 Depreciation Expense $4,100 Taxes Payable $712 Mortgage Payable $43,500 Land $62,000 Treasury Stock $2,210 Sales Discounts and Returns $1,258 Accounts Receivable $5,292 Supplies Expenses $355 Bonds Payable $38,000 Accumulated Depreciation $17,250 Income Tax Expense $780 Equipment $32,600 Interest Expense $2,900 Notes Payable $11,000 Cost of Goods Sold $31,500 Current Portion of Bonds Payable $6,200 Current Portion of Mortgage Payable $2,350 Product Sales (Gross) $66,145 Utilities Expense $950 Inventory $12,500 Discount of Bonds Payable $970 Salaries Expense $12,000 Revenues...
accounts payable 62000
wages payable 21000
interest payable 24000
notes payable 34000
mortgage payable 84000
common stock 69000
retained earnings 57000
land 114000
long term investment in stocks 36000
notes receivable (due in 3 yrs) 26000
accounts receivable 24000
cash 26000
prepaid expenses 10800
supplies 10200
intangible assets 15000
trucks 15k accumulated depreciation 12000
inventory 55000
1. Identify the company's current assets and their amounts. 2. Identify the company's current liabilities and their amounts. 3. Calculate the total amount reported...
1. A company has the following balance sheet: Plant and equipment $500,000 Loans payable $150,000 Mortgage payable 300,000 _______ Shareholders’ equity 50,000 Total $500,000 Total $500,000 The plant and equipment has a realizable value of $350,000, and is pledged as security for the mortgage. The estimated deficiency to unsecured creditors is: a. $ 50,000 b. $100,000 c. $150,000 d. $200,000 2. A company has the following balance sheet: Inventory $ 60,000 Accounts payable $ 75,000 Equipment, net 150,000 Loan...