Please provide correct answer Which of the following is a currentliability?(a) Notes Payable (due in 2 years)(b) Bonds Payable(c) Unearned Revenue(d) Equipment

Explanation of Current Liability:A current liability refers to a company's obligations that are…

Answered: Which of the following is a current…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 13MC: Which of the following is not a characteristic of a short-term note payable? A. Payment is due in...

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True (t) or False (f) _____ Current maturities of long-term debt refers to the amount of interest on a note payable that must be paid in the current year)
Which of the following is not a characteristic of a short-term note payable? A. Payment is due in less than a year. B. It bears interest. C. It can result from an accounts payable conversion. D. It is reported on the balance sheet under noncurrent liabilities.
Which of the following is not considered a current liability? The current portion of a noncurrent note payable O Unearned Revenue O Accounts Payable Bonds payable due in 2 years
Jj.87.
The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal. Repayment Period Рayment Interval Outstanding Principal After: 8th payment Conversion Debt Principal Interest Rate Period $15,000 8 years 3 months 10% quarterly (a) The size of the periodic payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal after the 8th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid by the 9th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six…
On an entity’s April 30,2021 balance sheet a note receivable was reported as a noncurrent asset and its accrued interest for eight months was reported as a current asset. Which of the following terms would fit the entity’s note receivable? A. Principal and interest are due December 31, 2021. B. Principal is due August 31,2022, and interest is due August 31, 2021, and August 31, 2022. C. Both principal and interest amounts are payable on December 31, 2021 and December 31, 2022. D. Both principal and interest amounts are payable on August31, 2021, and August 31, 2022.
Which of the following is not considered a current liability?A. Accounts PayableB. Unearned RevenueC. the component of a twenty-year note payable due in year 20D. current portion of a noncurrent note payable
Ef 591.
On July 1 of the current year, an entity received a one-year note receivable bearing an interest rate at the market rate of interest. The face amount of the note receivable and the entire amount of interest are due in one year. This note should be recorded at A. Discounted value of cash flows B. Face value C. Fair value D. Maturity value
Requirements1. Journalize the following transactions of Laporte Communications, Inc.: 2. At December 31, 2018, after all year-end adjustments have been made, determine thecarrying amount of Laporte’s bonds payable, net. 3. For the six months ended July 1, 2018, determine the following for Laporte:a. Interest expenseb. Cash interest paidWhat causes interest expense on the bonds to exceed cash interest paid?
In the amortization of loans, interest must be paid at the beginning of each period calculated on the balance of the principal amount due (unpaid balance). TRUE OR FALSE?
Where is debt callable by the creditor reported on the debtor's financial statements? a) Long term liability b) Current liability if the creditor intends to call the debt within the year , otherwise a long term liability. c) Current liability if it is probable that creditor will call the debt within the year, otherwise a long term liability. d) current liability

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Which of the following is a current liability? (a) Notes Payable (due in 2 years) (b) Bonds Payable (c) Unearned Revenue (d) Equipment