10. Powell Corporation includes the following selected accounts in its general ledger at December 31, 2025:View the selected accounts.Prepare the liabilities section of Powell Corporation's balance sheet at December 31, 2025.Plus:Total LiabilitiesPowell CorporationBalance Sheet (Partial)December 31, 2025Selected Accounts-☑Notes Payable (long-term)55,000Bonds Payable (long-term)215,000Interest Payable (due next year)Sales Tax Payable$780640Accounts Payable20,000Premium on Bonds Payable5,950Salaries Payable1,840Estimated Warranty Payable1,000PrintDone

Detailed explanation:Liabilities are money or services owed by the company to creditors, suppliers,…

Answered: 10. Powell Corporation includes the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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10. Powell Corporation includes the following selected accounts in its general ledger at December 31, 2025: View the selected accounts. Prepare the liabilities section of Powell Corporation's balance sheet at December 31, 2025. Plus: Total Liabilities Powell Corporation Balance Sheet (Partial) December 31, 2025 ☐☐☐ ☐ ☐ ...
At December 31, 2025, Cullumber Corporation has the following account balances: Bonds payable, due January 1, 2034 Discount on bonds payable Interest payable $1,400,000 76,000 71,000 Show how the above accounts should be presented on the December 31, 2025, balance sheet, including the proper classific CULLUMBER CORPORATION Balance Sheet (Partial) LA
10. Sullivan Corporation includes the following selected accounts in its general ledger at December 31, 2025: Viewthe selected accounts. "Notes Payable (long - term) $65, 000 Bonds Payable (long - term)S 195, 000 Accounts Payable$ 19,600 Salaries Payable $ 1,840 Interest Payable (due next year) $ 740 Sales Tax Payable $ 680 Premium on BondsPayable $ 5,600 Estimated Warranty Payable S 1,000 Prepare the liabilities section of Sullivan Corporation's balancesheet at December 31, 2025.
At December 31, 2020, Stellar Corporation has the following account balances: Bonds payable, due January 1, 2029 Discount on bonds payable Interest payable $1,900,000 102,000 # 92,000 Show how the above accounts should be presented on the December 31, 2020, balance sheet, including the proper classifications. (Enter account name only and do not provide descriptive information.) Stellar Corporation Balance Sheet (Partial) $ tA
MC21. Bay Corporation trial balance included the following account balances at December 31, 2021: Accounts payable - P4,500,000; Bonds payable, due December 31, 2022 P7,500,000; Discount on bonds payable - P900,000; Notes Dividends payable on January 31, 2022 - P2,400,000; payable due January 31, 2025 - P6,000,000. How much is included in the current liabilities section of Bay Corporation's December 31, 2021 statement of financial position?
At December 31, 2020, Sarasota Corporation has the following account balances: Bonds payable, due January 1, 2029 Discount on bonds payable Interest payable $1,400,000 75,000 68,000 Show how the above accounts should be presented on the December 31, 2020, balance sheet, including the proper classifications. (Enter account name only and do not provide descriptive information.) Sarasota Corporation Balance Sheet (Partial) LA $
At December 31, 2020, Crane Corporation has the following account balances: Bonds payable, due January 1, 2029 $2,600,000 Discount on bonds payable 71,000 Interest payable 62,000 Show how the above accounts should be presented on the December 31, 2020, balance sheet, including the proper classifications.
Sandhill Industries, Inc. reports the following liabilities (in thousands) on its January 31, 2025 balance sheet and notes to the financial statements. Accounts payable $3,220.9 Accrued pension liability-long-term 1,425.2 Property taxes payable 1,368.1 Bonds payable 2,171.2 Current portion of long-term debt 2,202.2 Income taxes payable 245.2 Notes payable-long-term 9,456.7 Mortgage payable 445.6 Federal income taxes payable 568.1 Salaries and wages payable 2,772.6 Unused operating line of credit 3,547.6 Warranty liability-current 1,827.3 Prepare the liabilities section of Sandhill's balance sheet at January 31, 2025. (Round answers in thousands to 1 decimal place, e.g. 52.7.) Current Liabilities Accounts Payable Property Taxes Payable Current Portion of Long-Term Debt Income Taxes Payable Federal Income Taxes Payable Salaries and Wages Payable Warranty Liability Total Current Liabilities Long-term Liabilities Bonds Payable Accrued Pension Liability Notes Payable Mortgage Payable Total…
Metlock, Inc. reports the following liabilities (in thousands) on its December 31, 2022, balance sheet and notes to the financial statements. Accounts payable $4,264.0 Mortgage payable $6,747.0 Unearned rent revenue 1,059.0 Notes payable (due in 2025) 336.0 Bonds payable 1,954.0 Salaries and wages payable 859.0 Current portion of mortgage payable 1,993.0 Notes payable (due in 2023) 2,564.0 Income taxes payable 266.0 Warranty liability—current 1,418.0 Create a balance sheet for the liabilities section of the balance sheet.
On December 31, 2019, Gliezel company provided the following information:Accounts payable, including deposits and advances from customer of 300,0001,500,000Notes payable, including note payable to bank due on December 31, 2021of 600,0001,800,000Stock dividend payable480,000Credit balances in customers accounts240,000Serial bonds payable in semiannual installment of 600,0006,000,000Accrued interest on bonds payable180,000Contested BIR tax assessment – possible obligation360,000Unearned rent income120,000Compute the total current liabilities.
Presented here are long-term liability items for Splish Brothers Inc. at December 31, 2025. Bonds payable (due 2029) $720,000 Notes payable (due 2027) 72,000 Discount on bonds payable 37,000 Prepare the long-term liabilities section of the balance sheet for Splish Brothers Inc. < SPLISH BROTHERS INC. Balance Sheet (Partial) Next question $ $ $
On December 31, 2021, Yohan Company provided the following information: Accounts Payable, Including deposits and advances from customer of P250,000 1,250, 000 Notes payable, including note payable to bank due on December 31, 2022 of 500,000 1.500,000 Share dividend payable 400,000 Credit balances in customer's account 200,000 Serial bonds payable in semi annual installment of 500,000 5,000,000 Accrued interest on bonds payable 150,000 Contested BIR tax assessment - possible obligation 300,000 Unearned rent income 100,000 Required: Compute the total current liabilities on December 31,2021

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