I want to correct answer accounting questions Smith Manufacturing's trial balance showed these account balances onDecember 31, 2024:Accounts payable: $35,000 Bonds payable, due 2030: $50,000 Wagespayable: $18,000 Note payable, due 2025: $30,000 Note payable, due 2028:$45,000What amount should be reported in the current liability section of SmithManufacturing's December 31, 2024, balance sheet?

Current Liabilities are obligations that a company expects to pay within one year.Based on the…

Answered: Smith Manufacturing's trial balance…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Constellation Corp. reported the following liability balances on December 31, 2021: 10% note payable issued on October 1, 2020, maturing October 1, 2022... 12% note payable issued on March 1, 2020, on March 1, 2022.... .P 2,000,000 4,000,000 The 2021 financial statements were issued on March 31, 2022. Under the loan agreement, the entity has the right on December 31, 2021 to roll over the 10% note payable for at least 12 months after December 31, 2021. On March 1, 2022, entire P 4,000,000 balance of the 12% note payable was refinanced through issuance of a long-term obligation payable lump-sum. What amount of the notes payable should be classified as current on December 31, 2021?
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Janson corporation balance included the following this question solution
can you show me how to solve this problem for accounting? Presented here are long-term liability items for Metlock, Inc. at December 31, 2022. Bonds payable (due 2026) $660,000 Notes payable (due 2024) 90,000 Discount on bonds payable 28,000
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
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.
At December 31, 2020, Hyasaki Corporation has the following account balances: Bonds payable, due January 1, 2029 $2,000,000 Discount on bonds payable 88,000 Interest payable 80,000 Show how the above accounts should be presented on the December 31, 2020, balance sheet, including the proper classifications.
Presented here are liability items for kingbird inc.at December 31,2022 accounts payable 251200 notes payable (due may 1 2023) 3200 bonds payable (due 2026) 1440000 unearned rent revenue 384000 discount on bonds payable 65600 fica 12480 interest payable 64000 notes payable (due 2024) 128000 income taxes payable 5600 sales taxes payable 2720 prepare the liabilities section of kingbird's balance sheet
Sandhill Corporation's adjusted trial balance contained the following liability accounts at December 31, 2020: Bonds Payable (due in 3 years) $101,750, Accounts Payable $77,800, Notes Payable (due in 90 days) $24,350, Salaries and Wages Payable $4,900, and Income Taxes Payable $8,730. Prepare the current liabilities section of the balance sheet.
Presented below are long-term liability items for Crane Company at December 31, 2020. Bonds payable, due 2022 $575,000 Lease liability 70,000 Notes payable, due 2025 80,000 Discount on bonds payable 37,375 Prepare the long-term liabilities section of the balance sheet for Crane Company. (Enter account name only and do not provide descriptive information.) Crane CompanyBalance Sheet (Partial) For the Month Ended December 31, 2020For the Year Ended December 31, 2020December 31, 2020 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders’ Equity $ Add Less :…
t16
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 $

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