Kingbird Company has the following selected accounts after posting adjusting entries: Accounts Payable $55,000 Notes Payable, 3-month 80,000 Accumulated Depreciation—Equipment 14,000 Notes Payable, 5-year, 8% 80,000 Payroll Taxes Expense 6,000 Interest Payable 4,000 Mortgage Payable 120,000 Sales Taxes Payable 20,000 Prepare the current liability section of Kingbird Company's balance sheet, assuming $12,000 of the mortgage is payable next year.
Kingbird Company has the following selected accounts after posting adjusting entries: Accounts Payable $55,000 Notes Payable, 3-month 80,000 Accumulated Depreciation—Equipment 14,000 Notes Payable, 5-year, 8% 80,000 Payroll Taxes Expense 6,000 Interest Payable 4,000 Mortgage Payable 120,000 Sales Taxes Payable 20,000 Prepare the current liability section of Kingbird Company's balance sheet, assuming $12,000 of the mortgage is payable next year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Kingbird Company has the following selected accounts after posting
Accounts Payable | $55,000 | ||
Notes Payable, 3-month | 80,000 | ||
14,000 | |||
Notes Payable, 5-year, 8% | 80,000 | ||
Payroll Taxes Expense | 6,000 | ||
Interest Payable | 4,000 | ||
Mortgage Payable | 120,000 | ||
Sales Taxes Payable | 20,000 |
Prepare the current liability section of Kingbird Company's
KINGBIRD COMPANY | |||
---|---|---|---|
select an opening section name | |||
enter a balance sheet item | $enter a dollar amount | ||
enter a balance sheet item | enter a dollar amount | ||
enter a balance sheet item | enter a dollar amount | ||
enter a balance sheet item | enter a dollar amount | ||
enter a balance sheet item | enter a dollar amount | ||
select a closing section name | $enter a total amount for this section |
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