Question 13

Exercise 10-15 (Algo) Reporting liabilities section of balance sheet LO P2, C1 Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $ 6,400 2,200 13,400 7,900 Discount on bonds payable Wages payable Interest payable (due in 2 weeks) Sales tax payable $ 2,100 1,050 525 475 Prepare the liabilities section of its classified balance sheet. (Amounts to be deducted should be indicated with a minus sign.) WOOHOO COMPANY Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities