Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes payable (due in 5 years) $ 5,600 Discount on bonds payable $ 1,700 Accounts payable 1,800 Wages payable 850 Bonds payable (due in 10 years) Machinery 12,600 7,100 Interest payable (due in 2 weeks) Sales tax payable 425 375 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities 0 0 0 $ 0

Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes payable (due in 5 years) $ 5,600 Discount on bonds payable $ 1,700 Accounts payable 1,800 Wages payable 850 Bonds payable (due in 10 years) Machinery 12,600 7,100 Interest payable (due in 2 weeks) Sales tax payable 425 375 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities 0 0 0 $ 0

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 8RE

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