Horchow, Inc.. includes the following selected accounts in its general ledger at December 31. 20X3: Notes payable.
Question:
Horchow, Inc.. includes the following selected accounts in its general ledger at December 31. 20X3: Notes payable. long-term... $100,000 Current obligation under Bonds payable...... 350,000 capital lease $ 8.000 Equipment under Accounts payable. 19.000 capital lease 114.000 Long-term capital lease Interest payable (due liability. 42.000 March 1, 20X4) 7,000 Discount on bonds. Current portion of payable (all long-term).......... 6.000 bonds payable....... 65,000 Prepare the liabilities section of Horchow's balance sheet at December 31, 20X3. to show how Horchow would report these items. Report a total for current liabilities.
Step by Step Answer:
Accounting
ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones