Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Royal, Inc., includes the following selected accounts in its general ledger at December 31, 2021: (Click the icon to view the accounts.) Prepare the liabilities
Royal, Inc., includes the following selected accounts in its general ledger at December 31, 2021: (Click the icon to view the accounts.) Prepare the liabilities section of Royal's, balance sheet at December 31, 2021, to show how the company would report these items. Report total current liabilities and total long-term liabilities. (If an input field is not used in the table leave the field empty, do not select a label or enter a zero.) Current liabilities. Liabilities Accounts payable Current portion of bonds payable Interest payable Total current liabilities Long-term liabilities: Notes payable, long-term Bonds payable Less: Discount on bonds payable Total long-term liabilities Total liabilities GOOD 200,000 (6,000) 34,000 53,000 1,700 HELIMES 88,700 250,000 194,000 444,000 require Inc
everything looks good I am just stuck on total liabilities can you tell me how much the total liabilities
Royal, Inc, includes the following selected accounts in its general ledger at December 31,2021 (Click the icon to view the accounts) Prepare the liabilities section of Royal's, balance sheet at December 31, 2021, to show how the company would report these items. Report total current liabilities and total long-term liabilities. (If an input field is not used in the table leave the field emply; do not select a label or enter a zero.) Royal, Inc, includes the following selected accounts in its general ledger at December 31,2021 (Click the icon to view the accounts) Prepare the liabilities section of Royal's, balance sheet at December 31, 2021, to show how the company would report these items. Report total current liabilities and total long-term liabilities. (If an input field is not used in the table leave the field emply; do not select a label or enter a zero.) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started