(c)Your answer is correct.What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial positionon December 31, 2023? (Round answers to O decimal places, e.g. 5,255.)(d)Current LiabilitiesCurrent Portion of Bank Loan PayableInterest PayableNon-Current LiabilitlesBank Loan PayableWILDHORSE LTD.Statement of Financial Position (Partial)December 31, 2023eTextbook and MediaList of AccountsWILDHORSE LTD.Statement of Financial Position (Partial)9709$60010291What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial positionon December 31, 2024? (Round answers to O decimal places, e.g. 5,255.)Attempts: 3 of 15 used On July 1, 2023, Wildhorse Ltd. received a loan from its bank for $20,000 bearing interest at 636. The loan la payable in two annualInstalments of $10,909 principal and Interest on June 30 each year. The company records adjusting journal entries annually at yearand on December 31Your answer la correct.Prepare an instalment payment schedule for the term of the loan. (Round answers to 0 decimal places, eg. 5,255)(b)Cash Payment2090920909Textbook and MediaList of AccountsYour answer la correct.Account TitlesCashLoan PInterest ExercInterat PayableInternet ExperasRank Loan PayableInterat PayCashInterest ExpensInterest ExpensRecord (1) the receipt of $20,000 cash from the loan on July 1, 2023; (2) the accrual of Interest on December 31, 2023; (3) thefirst Instalment payment on June 30, 2024; and (4) the accrual of Interest on December 31, 2024. (Round answers to decimalplaces, g 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry isrequired, select "No Entry for the account titles and enter O for the amounts. List all debit entries before credit entries.Intercat Payabic1200617Reduction of PrincipalSTOR20272Debit200006006009707400$207Principal Balance2000020271Attempts: 1 of 15 usedCredit10002000010POP

The loans are taken to meet the funds requirement. The entity can decide to repay the loan in…

U Your answer is correct. What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial position on December 31, 2023? (Round answers to 0 decimal places, eg. 5,255.) (d) Current Liabilitles Current Portion of Bank Loan Payable Interest Payable Non-Current Liabilities Bank Loan Payable WILDHORSE LTD. Statement of Financial Position (Partial) December 31, 2023 eTextbook and Media List of Accounts 9709 600 10291 Attempts: 3 of 15 used What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial position on December 31, 2024? (Round answers to O decimal places, e.g. 5,255.)

U Your answer is correct. What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial position on December 31, 2023? (Round answers to 0 decimal places, eg. 5,255.) (d) Current Liabilitles Current Portion of Bank Loan Payable Interest Payable Non-Current Liabilities Bank Loan Payable WILDHORSE LTD. Statement of Financial Position (Partial) December 31, 2023 eTextbook and Media List of Accounts 9709 600 10291 Attempts: 3 of 15 used What amounts would Wildhorse report as current and non-current in the liabilities section of its statement of financial position on December 31, 2024? (Round answers to O decimal places, e.g. 5,255.)

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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