The adjusted trial balance for Cullumber Corporation at July 31, 2021, the corporation's fiscal year end, contained the follow Accounts payable $ 107,500 Note payable $157,000 Accounts receivable 125.500 Lease liability 73.000 Bonds payable, due 2025 229,500 Note receivable, due December 2021 39,000 Interest payable 5.500 Unearned revenue 11.000 Of the lease liability amount, $18,250 is due within the next year. Total payments on the note payable in the fiscal year 2022 v $30.500: S8.000 is for interest and $22.500 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not provide descriptive information.)
The adjusted trial balance for Cullumber Corporation at July 31, 2021, the corporation's fiscal year end, contained the follow Accounts payable $ 107,500 Note payable $157,000 Accounts receivable 125.500 Lease liability 73.000 Bonds payable, due 2025 229,500 Note receivable, due December 2021 39,000 Interest payable 5.500 Unearned revenue 11.000 Of the lease liability amount, $18,250 is due within the next year. Total payments on the note payable in the fiscal year 2022 v $30.500: S8.000 is for interest and $22.500 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not provide descriptive information.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The adjusted trial balance for Cullumber Corporation at July 31, 2021, the corporation's fiscal year end, contained the follow
Accounts payable
$ 107,500
Note payable
$157,000
Accounts receivable
125,500
Lease liability
73,000
Bonds payable, due 2025
229,500
Note receivable, due December 2021
39.000
Interest payable
5,500
Unearned revenue
11,000
Of the lease liability amount, $18,250 is due within the next year. Total payments on the note payable in the fiscal year 2022
$30,500: $8,000 is for interest and $22,500 for principal repayments.
(a)
Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not provide
descriptive information.)
CULLUMBER CORPORATION
Balance Sheet (Partial)
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