The adjusted trial balance for Sheridan Corporation at July 31, 2024, the corporation's fiscal year end, contained the following: Accounts payable $98,300 Lease liability $66,560 Accounts receivable 114,700 Note payable 143,360 Bonds payable, due 2028 209,920 Note receivable, due December 2024 35,840 Interest payable 5,120 Unearned revenue 10,240 Of the lease liability amount, $16,640 is due within the next year. Total payments on the note payable in the fiscal year 2025 will be $27,648: $7,168 is for interest and $20,480 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2024. SHERIDAN CORPORATION Balance Sheet (Partial) $
The adjusted trial balance for Sheridan Corporation at July 31, 2024, the corporation's fiscal year end, contained the following: Accounts payable $98,300 Lease liability $66,560 Accounts receivable 114,700 Note payable 143,360 Bonds payable, due 2028 209,920 Note receivable, due December 2024 35,840 Interest payable 5,120 Unearned revenue 10,240 Of the lease liability amount, $16,640 is due within the next year. Total payments on the note payable in the fiscal year 2025 will be $27,648: $7,168 is for interest and $20,480 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2024. SHERIDAN CORPORATION Balance Sheet (Partial) $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The adjusted trial balance for Sheridan Corporation at July 31, 2024, the corporation's fiscal year end, contained the following:
Accounts payable
$ 98,300
Lease liability
$66,560
Accounts receivable
114,700
Note payable
143,360
Bonds payable, due 2028
209,920
Note receivable, due December 2024
35,840
Interest payable
5,120
Unearned revenue
10,240
Of the lease liability amount, $16,640 is due within the next year. Total payments on the note payable in the fiscal year 2025 will be
$27,648: $7,168 is for interest and $20,480 for principal repayments.
(a)
Prepare the non-current liabilities section of the balance sheet as at July 31, 2024.
SHERIDAN CORPORATION
Balance Sheet (Partial)
$
$
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