Which of the following is a non-current liability on December 31, 2021 statement of financial position? A. Bonds payable maturing on March 2022 which were refinanced in 2022 before issuance of the 2021 financial statements. B. Mortgage note payable due March 15, 2022, which was rolled over in 2022 after the issuance of the 2021 financial statements. C. Mortgage note payable due March 15, 2022, which was converted into shares of the company’s ordinary share capital in 2022 before the issuance of 2021 financial statements. D. Mortgage note payable due March 15, 2022, in which the entity has the intention and discretion to roll over for a period of at least 24 months from the original maturity date.
Which of the following is a non-current liability on December 31, 2021 statement of financial position? A. Bonds payable maturing on March 2022 which were refinanced in 2022 before issuance of the 2021 financial statements. B. Mortgage note payable due March 15, 2022, which was rolled over in 2022 after the issuance of the 2021 financial statements. C. Mortgage note payable due March 15, 2022, which was converted into shares of the company’s ordinary share capital in 2022 before the issuance of 2021 financial statements. D. Mortgage note payable due March 15, 2022, in which the entity has the intention and discretion to roll over for a period of at least 24 months from the original maturity date.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is a non-current liability on December 31, 2021
A. Bonds payable maturing on March 2022 which were refinanced in 2022 before issuance of the 2021 financial statements.
B. Mortgage note payable due March 15, 2022, which was rolled over in 2022 after the issuance of the 2021 financial statements.
C. Mortgage note payable due March 15, 2022, which was converted into shares of the company’s ordinary share capital in 2022 before the issuance of 2021 financial statements.
D. Mortgage note payable due March 15, 2022, in which the entity has the intention and discretion to roll over for a period of at least 24 months from the original maturity date.
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