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The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2014, contained the following accounts. 5-year Bonds Payable 8% $2,500,000 Interest
The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2014, contained the following accounts. 5-year Bonds Payable 8% $2,500,000
Interest Payable 50,000
Premium on Bonds Payable 100,000
Notes Payable (3 months.) 40,000
Notes Payable (5 yr.) 165,000
Mortgage Payable ($15,000 due currently) 200,000
Salaries and wages Payable 18,000
Income Taxes Payable (due 3/15 of 2015) 25,000
The total long-term liabilities reported on the balance sheet are
A) $2,865,000. B) $2,850,000. C) $2,965,000. D) $2,950,000.
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