I'm trying to create a balance sheet (as of December 31, 2017) and would just like...
I'm trying to create a balance sheet (as of December 31, 2017) and would just like to know how I would do the following:
Notes payable ($10,000 will be repaid within the next year) $200,000
Bonds payable (10/31/2022 maturity date) $300,000
I'm just not very sure if i should subtract the 10,000 from 200,000 and if bonds payable should be included in the balance sheet.
Homework Answers
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Since 10,000 notes payable is due within a year , it will be shown under current liabilities and remaining 190,000 will be shown under long term liabilities Bonds payable has to be included in the balance sheet |
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I'm trying to create a balance sheet (as of December 31, 2017) and would just like...
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Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are...
Cone Corporation is in the process of preparing its December 31,
2021, balance sheet. There are some questions as to the proper
classification of the following items:
$51,000 in cash restricted in a savings account to pay bonds
payable. The bonds mature in 2025.
Prepaid rent of $25,000, covering the period January 1, 2022,
through December 31, 2023.
Notes payable of $202,000. The notes are payable in annual
installments of $21,000 each, with the first installment payable on
March 1,...
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Cone Corporation is in the process of preparing its December 31,
2021, balance sheet. There are some questions as to the proper
classification of the following items:
$51,000 in cash restricted in a savings account to pay bonds
payable. The bonds mature in 2025.
Prepaid rent of $25,000, covering the period January 1, 2022,
through December 31, 2023.
Notes payable of $202,000. The notes are payable in annual
installments of $21,000 each, with the first installment payable on
March 1,...
Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items: a. $54,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. b. Prepaid rent of $28,000, covering the period January 1, 2022, through December 31, 2023. c. Notes payable of $208,000. The notes are payable in annual installments of $24,000 each, with the first installment payable...
Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items: a. $51,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. b. Prepaid rent of $25,000, covering the period January 1, 2022, through December 31, 2023. c. Notes payable of $202,000. The notes are payable in annual installments of $21,000 each with the first installment payable...
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