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The accounting records of Path Leader Wireless include the following as of December 31, 2024: Accounts Payable $68,000 Salaries Payable $11,500 Mortgages Payable (long-term) 78,000
The accounting records of Path Leader Wireless include the following as of December 31, 2024:
Accounts Payable $68,000
Salaries Payable $11,500
Mortgages Payable (long-term) 78,000
Bonds Payable (current portion) 35,000
Interest Payable 21,000
Premium on Bonds Payable 12,000
Bonds Payable (long-term) 60,000
Unearned Revenue (short-term) 2,400
Total Stockholders' Equity 180,000
Requirements
1. | Report these liabilities on the Path Leader Wireless balance sheet, including headings and totals for current liabilities and long-term liabilities. |
2. | Compute Path Leader Wireless's debt to equity ratio at December 31, 2024. |
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