For the following independent transactions, determine the amount of current and long-term liabilites. Do not enter dollar signs or commas in the input boxes. No. Transaction 1 On February 28, 2022, Frederick Flowers borrowed $225,500 from the bank. The entire amount is due on February 27, 2023. NOP Company purchased a small building at a cost of $190,000. The 2 down payment is $90,000. The remaining balance is payable in 5 years with an annual payment of $20,000. A business owner borrowed $11,000 from a close friend for a business 4 expansion. They both signed an agreement that the full payment will be made after 4 years. Current Liability 225500 20000 During March 2022, a business owner obtained an interest-free loan from 3 a financing company. The loan amount was $79,000. The agreed terms of 15800 payment are 5 annual installments of $15,800. 0 Long-Term Liability 0 11000
For the following independent transactions, determine the amount of current and long-term liabilites. Do not enter dollar signs or commas in the input boxes. No. Transaction 1 On February 28, 2022, Frederick Flowers borrowed $225,500 from the bank. The entire amount is due on February 27, 2023. NOP Company purchased a small building at a cost of $190,000. The 2 down payment is $90,000. The remaining balance is payable in 5 years with an annual payment of $20,000. A business owner borrowed $11,000 from a close friend for a business 4 expansion. They both signed an agreement that the full payment will be made after 4 years. Current Liability 225500 20000 During March 2022, a business owner obtained an interest-free loan from 3 a financing company. The loan amount was $79,000. The agreed terms of 15800 payment are 5 annual installments of $15,800. 0 Long-Term Liability 0 11000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For the following independent transactions, determine the amount of current and long-term liabilites.
Do not enter dollar signs or commas in the input boxes.
No.
Transaction
1
On February 28, 2022, Frederick Flowers borrowed $225,500 from the bank.
The entire amount is due on February 27, 2023.
NOP Company purchased a small building at a cost of $190,000. The
2 down payment is $90,000. The remaining balance is payable in 5 years
with an annual payment of $20,000.
A business owner borrowed $11,000 from a close friend for a business
4 expansion. They both signed an agreement that the full payment will be
made after 4 years.
Chack
Current Liability Long-Term Liability
225500
During March 2022, a business owner obtained an interest-free loan from
3 a financing company. The loan amount was $79,000. The agreed terms of 15800
payment are 5 annual installments of $15,800.
20000
0
0
11000
x
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