Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes payable (due in 5 years) $ 5,600 Discount on bonds payable $ 1,700 Accounts payable 1,800 Wages payable 850 Bonds payable (due in 10 years) Machinery 12,600 7,100 Interest payable (due in 2 weeks) Sales tax payable 425 375 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities 0 0 0 $ 0
Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes payable (due in 5 years) $ 5,600 Discount on bonds payable $ 1,700 Accounts payable 1,800 Wages payable 850 Bonds payable (due in 10 years) Machinery 12,600 7,100 Interest payable (due in 2 weeks) Sales tax payable 425 375 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities 0 0 0 $ 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow.
Notes payable (due in 5 years)
$ 5,600
Discount on bonds payable
$ 1,700
Accounts payable
1,800
Wages payable
850
Bonds payable (due in 10 years)
Machinery
12,600
7,100
Interest payable (due in 2 weeks)
Sales tax payable
425
375
Prepare the liabilities section of its classified balance sheet.
Note: Amounts to be deducted should be indicated with a minus sign.
WOOHOO COMPANY
Liabilities Section of Balance Sheet
December 31
Liabilities
Current liabilities
Total current liabilities
Long-term liabilities
Total long-term liabilities
Total liabilities
0
0
0
$
0
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