A B 1 Long-term Liabilities 2 Report liabilities 4 Regal, Inc., includes the following selected accounts in its general ledger at December 31, 2018 Bonds payable (excluding current portion) Equipment Current portion of bonds payable Notes payable, long-term Interest payable (due March 1, 2019) Accounts payable Discount on bonds payable (all long-term) Accounts receivable $ 400,000 113,000 51,000 275,000 2,000 37,000 12,000 32,000 10 12 13 15 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be 16 marked wrong. 17 18 Requirement Prepare the liabilities section of Regal's balance sheet at December 31,2018, to show how the company would report these items. Report total 19 current liabilities and total liabilities. 20 21 Check your spelling carefully and do not abbreviate. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. a. b. 23 24 Saving & Submitting Solution 25 1 Save file to desktop 26 27 28 2 Upload and submit your file to be graded. a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS b. Save your solution in the folder you just created; add -solution-date to end of file name a.Navigate back to the activity window screen where you downloaded the initial spreadsheet b. Click Choose button under step 3; locate the file you just saved and click Open c. Click Upload button under step3 d. Click Submit button under step 4 31 32 35 Viewing Results 36 1 Click on Results tab in MyAccountingLab 37 2 Click on the Assignment you were working on 38 3 Click on Project link; this will bring up your Score Card 39 4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with feedback 41 42 43 45 46 47 INSTRUCTIONS ENTERANSWERS + Prepare the liabilities section of Regal's balance sheet at December 31, 2018, to show how the company would report these items. Report total current liabilities and total liabilities. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 1 2Instruction tab you will be marked wrong.) 7 Liabilities 8 Current liabilities: 10 Total current liabilities 12 13 Long-term debt, less current maturities: 14 15 16 Less: 17 18 19 Total liabilities 20 21 Total long-term liabilities 23 24 25 26 27 28 29 30 31 32 34 35 36 37 38 INSTRUCTIONS ENTERANSWERS+