Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow. Notes...
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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 $ 4,200 Discount on bonds payable $ 1,000 1,100 Wages payable 500 11,200 Interest payable (due in 2 weeks) 250 5,700 Sales tax payable 200 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet Current liabilities Accounts payable Total current liabilities Long-term liabilities December 31 Liabilities $ 1,400 1,400 0 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 $ 4,200 Discount on bonds payable $ 1,000 1,100 Wages payable 500 11,200 Interest payable (due in 2 weeks) 250 5,700 Sales tax payable 200 Prepare the liabilities section of its classified balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. WOOHOO COMPANY Liabilities Section of Balance Sheet Current liabilities Accounts payable Total current liabilities Long-term liabilities December 31 Liabilities $ 1,400 1,400 0
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