Question
preperation of current Liabilities section?
The following are all of the accounts with credit balances from Kilburn Company’s adjusted trial balance at December 31, 2008: Accounts payable$ 66,000 Accumulated amortization – equipment31,500 Allowance for doubtful accounts1,600 Bank demand loan payable25,000 C. Kilburn, capital 47,500 Gain on sale of equipment 600 GST payable1,900 Interest payable 2,100 Mortgage payable 290,000 Note payable18,000 Salaries payable 4,400 Sales discounts3,750 Sales revenue 458,000 Unearned revenue7,900 Other information: The mortgage is due in monthly principal payments of $1,000 plus interest. The note payable is a six-month, 10% note, interest due at maturity. Instructions:Prepare the current liabilities section of Kilburn’s December 31, 2008 balance sheet.
6 months ago - 1 answers
Best Answer
Chosen by Asker
current liabilities section Accounts payable $ 66,000 Bank demand loan payable 25,000 Note payable 18,000 Mortgage payable 12,000 (due within 12 mths) Unearned revenue 7,900 Salaries payable 4,400 Interest payable 2,100 GST payable 1,900 Total $137,300
by Sandy
6 months ago
Asker's Rating: 