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Give a numerical example of: Current liabilities. Long-term liabilities I post 2 picture to show you how to answer the qustions. please dont use hand
Give a numerical example of:
- Current liabilities.
- Long-term liabilities
I post 2 picture to show you how to answer the qustions. please dont use hand writing use keyboard and dont copy from internet i need unique answer from you not from other sources and 0%plagiarism
Q2- Give a numerical example of: A) Current liabilities Sep 2.2012, Mohammad borrows 30000 from ABC bank. The note bears interest at 6% per year. Principal and interest are due in 90 days. DR CR Sep2 cash 30000 Notes payable 30000 Notes payable 30000 Interest expense 450 Cash 20450 B) Long-term liabilities (2 marks). Company AKK on Jan 1, 2013 par value - 2000000 Issue price - 82.6405%, stated interst rate=10%. Market interest rate=12%. interest dates = 6/30 and 12/31 bond date Jan 1, 2013, DR CR Jan.1 Cash 826405 1173595 Discount on bonds payable Bonds payable 2000000 June 30 Bond interest expense 217360 Discount on bonds payable 117360 100000Step by Step Solution
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