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Teal Mountain, Inc. reports the following liabilities (in thousands) on its December 31, 2022, balance sheet and notes to the financial statements. Accounts payable Unearned
Teal Mountain, Inc. reports the following liabilities (in thousands) on its December 31, 2022, balance sheet and notes to the financial statements. Accounts payable Unearned rent revenue Bonds payable Current portion of mortgage payable Income taxes payable $4,270.0 Mortgage payable 1,065.0 Notes payable (due in 2025) 1,960.0 Salaries and wages payable 1,999.0 Notes payable (due in 2023) 272.0 Warranty liability-current $6,753.0 342.0 865.0 2,570.0 1,424.0 (a) Your answer is correct. Identify which of the above liabilities are likely current and which are likely long-term. Account Classification Accounts payable Current Liability Unearned rent revenue Current Liability Bonds payable Long-term Liability Current portion of mortgage payable Current Liability Income taxes payable Current Liability Mortgage payable Long-term Liability Notes payable (due in 2025) Long-term Liability, Salaries and wages payable Current Liability Salaries and wages payable Current Liability Notes payable (due in 2023) Current Liability , Warranty liability-current Current Liability . eTextbook and Media List of Accounts Attempts: 2 of 6 used (b) Prepare the liabilities section of Teal Mountain's balance sheet as at December 31, 2022. TEAL MOUNTAIN, INC. Balance Sheet (Partial) (in thousands)
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