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Question 2 [20 points] Oppong Corporation showed the following selected account balances at July 31, 2014. Use this information to prepare the liabilities section
Question 2 [20 points] Oppong Corporation showed the following selected account balances at July 31, 2014. Use this information to prepare the liabilities section of the Oppong Corporation balance sheet. $21,000 of the note payable that matures in 2021 must be paid by July 31, 2015. $43,000 of the bonds payable are due by July 31, 2015. Account Accounts Payable Balance 78,000 (select one) Benefits Expense. 32,500 Liabilities Section of Balance Sheet (select one) Bonds Payable..... 145,000 Employee Medical Insurance Payable 5,000 HST Payable. 27,500 Interest Expense. 34,000 Notes Payable (due October 1, 2021) 96,000 Property Taxes Expense 59,000 Property Taxes Payable.......... 21,500 Sales 50,500 Supplies ........ 318,500 Unearned Revenue. 20,500
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