Question
The adjusted trial balance for Cullumber Corporation at July 31, 2021, the corporations fiscal year end, contained the following: Accounts payable $ 107,500 Note payable
The adjusted trial balance for Cullumber Corporation at July 31, 2021, the corporations fiscal year end, contained the following:
Accounts payable | $ 107,500 | Note payable | $157,000 | |||
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Accounts receivable | 125,500 | Lease liability | 73,000 | |||
Bonds payable, due 2025 | 229,500 | Note receivable, due December 2021 | 39,000 | |||
Interest payable | 5,500 | Unearned revenue | 11,000 |
Of the lease liability amount, $18,250 is due within the next year. Total payments on the note payable in the fiscal year 2022 will be $30,500: $8,000 is for interest and $22,500 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not provide descriptive information.)
CULLUMBER CORPORATION Balance Sheet (Partial) choose the accounting period For the Month Ended July 31, 2021For the Year Ended July 31, 2021July 31, 2021 | ||
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select an opening section name Total Property, Plant and EquipmentProperty, Plant and EquipmentCurrent LiabilitiesNon-Current LiabilitiesTotal LiabilitiesTotal Current AssetsTotal Liabilities and Shareholders' EquityTotal Intangible AssetsCurrent AssetsTotal AssetsTotal Non-Current LiabilitiesTotal Shareholders' EquityShareholders' EquityTotal Current LiabilitiesIntangible Assets | ||
enter a balance sheet item | $enter a dollar amount | |
enter a balance sheet item | enter a dollar amount | |
enter a balance sheet item | enter a dollar amount | |
select a closing section name Total Current LiabilitiesShareholders' EquityTotal Property, Plant and EquipmentCurrent LiabilitiesTotal LiabilitiesTotal Current AssetsTotal Shareholders' EquityTotal Non-Current LiabilitiesTotal Intangible AssetsIntangible AssetsNon-Current LiabilitiesProperty, Plant and EquipmentTotal AssetsCurrent AssetsTotal Liabilities and Shareholders' Equity | $enter a total amount for this section |
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