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Question 2 [20 points] Allarco Inc. showed the following selected account balances at March 31, 2014. Use this information to prepare the liabilities section of
Question 2 [20 points] Allarco Inc. showed the following selected account balances at March 31, 2014. Use this information to prepare the liabilities section of the Allarco Inc. balance sheet. $9,000 of the note payable that matures in 2021 must be paid by March 31, 2015. $25,000 of the bonds payable are due by March 31, 2015. (select one) Liabilities Section of Balance Sheet (select one) Account Accounts Receivable Bonds Payable Commissions Earned Consulting Revenue Earned Employee Income Taxes Payable Employee Union Dues Payable HST Payable Interest Expense Notes Payable (due October 1, 2021) Property Taxes Expense Property Taxes Payable Balance 390,000 132,500 37,000 54,000 52,500 6,500 17.000 38,500 158,000 56,000 27,000 X + + X + X : + +
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