The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2008, contained the following accounts. 5-year Bonds Payable 8% P1,000,000 Bond Interest Payable 50,000 Premium on Bonds Payable 100,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 165,000 Mortgage Payable (P15,000 due currently) 200,000 Salaries Payable 18,000 Taxes Payable (due 3/15 of 2009) 25,000 The total long-term liabilities reported on the balance sheet are Group of answer choices 1,365,000 1,465,000 1,350,000 1,450,000.

The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2008, contained the following accounts. 5-year Bonds Payable 8% P1,000,000 Bond Interest Payable 50,000 Premium on Bonds Payable 100,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 165,000 Mortgage Payable (P15,000 due currently) 200,000 Salaries Payable 18,000 Taxes Payable (due 3/15 of 2009) 25,000 The total long-term liabilities reported on the balance sheet are Group of answer choices 1,365,000 1,465,000 1,350,000 1,450,000.

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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