Constantin Corporation is preparing its December 31, 2014, balance sheet. The following items may be reported as

Question:

Constantin is preparing its December 31, 2014, balance sheet. The following items may be reported as either a current or long-term liability.
1. At December 31, bonds payable of $200,000,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of $50,000,000 every September 30, beginning September 30, 2015.
2. On December 15, 2014, Constantin declared a cash of $5.00 per share to stockholders of record on December 31. The is payable on January 15, 2015. Constantin has issued 1,000,000 shares of , of which 50,000 shares are held in treasury.
3. Also on December 31, Constantin declared a 10% stock to stockholders of record on January 15, 2015. The will be distributed on January 31, 2015. Constantin’s has a of $20 per share and a market value of $76 per share.
4. At December 31, 2013, customer advances were $24,000,000. During 2014, Constantin collected $60,000,000 of customer advances, and advances of $50,000,000 were earned.

Instructions
For each item above indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.

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