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eBook Question Content Area Reporting Long - Term Debt Fridley Manufacturing s accounting records reveal the following account balances after adjusting entries are made on
eBook
Question Content Area
Reporting LongTerm Debt
Fridley Manufacturings accounting records reveal the following account balances after adjusting entries are made on December :
Accounts payable $ Interest payable $
Bonds payable due in Installment note payable equal installments due to
Lease liability Notes payable due in
Bonds payable due in Premium on notes payable due in
Deferred tax liability Note payable, $ face amount, due in net of discount
Discount on bonds payable due in
taxes payable
Longterm liability
Required:
Prepare the current liabilities and longterm debt portions of Fridleys balance sheet at December Provide a separate line item for each issue do not combine separate bonds or notes payable but some items may need to be split into more than one item.
Fridley Manufacturing
Liabilities Section of the Balance Sheet
December
Liabilities
Current liabilities:
Accounts payable
$Accounts payable
Interest payable
Interest payable
Income taxes payable
Income taxes payable
Current portion of installment note
Current portion of installment note
Total current liabilities $fill in the blank
Longterm liabilities:
Bonds payable:
Bonds payable due in
Bonds payable due in
Bonds payable due in
$Bonds payable due in
Select
blank
Bonds payable due in net blank fill in the blank
Notes payable:
Notes payable due in
$Notes payable due in
Select
blank
Notes payable due in net blank fill in the blank
Select
$ Select
Select
blank
Notes payable due in net blank fill in the blank
Other longterm liabilities:
Lease liability
Lease liability
Deferred tax liability
Deferred tax liability
Total liabilities $fill in the blank
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