Grouper Company has the following selected accounts after posting adjusting entries: Accounts Payable Notes Payable, 3-month Accumulated Depreciation-Equipment Notes Payable, 5-year, 6% Payroll Tax Expense Interest Payable Mortgage Payable Sales Taxes Payable $57,040 36,800 12,880 73,600 3,680 2,760 110,400 34,960 Prepare the current liability section of Grouper Company's balance sheet, assuming $14,720 of the mortgage is payable next year: (For Notes Payable enter the account name only and do not provide any additional descriptive information e.g. due 2017, 5 Months.)
Grouper Company has the following selected accounts after posting adjusting entries: Accounts Payable Notes Payable, 3-month Accumulated Depreciation-Equipment Notes Payable, 5-year, 6% Payroll Tax Expense Interest Payable Mortgage Payable Sales Taxes Payable $57,040 36,800 12,880 73,600 3,680 2,760 110,400 34,960 Prepare the current liability section of Grouper Company's balance sheet, assuming $14,720 of the mortgage is payable next year: (For Notes Payable enter the account name only and do not provide any additional descriptive information e.g. due 2017, 5 Months.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:GROUPER COMPANY
Current Liabilities
Accounts Payable
Notes Payable
Interest Payable
Sales Taxes Payable
Total Current Liabilities.
LA
$
57040
36800
2760
34960
Transcribed Image Text:Grouper Company has the following selected accounts after posting adjusting entries:
Accounts Payable
Notes Payable, 3-month
Accumulated Depreciation-Equipment
Notes Payable, 5-year, 6%
Payroll Tax Expense
Interest Payable
Mortgage Payable
Sales Taxes Payable
$57,040
36,800
12,880
73,600
3,680
2,760
110,400
34,960
Prepare the current liability section of Grouper Company's balance sheet, assuming $14,720 of the mortgage is payable next year: (For
Notes Payable enter the account name only and do not provide any additional descriptive information e.g. due 2017, 5
Months.)
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