Question
The long-term liability section of Carolina Companys Balance Sheet includes the following accounts: Notes Payable $200,000 Mortgage Payable 250,000 Salaries and Wages Payable 75,000 Accumulated
The long-term liability section of Carolina Companys Balance Sheet includes the following accounts:
Notes Payable $200,000
Mortgage Payable 250,000
Salaries and Wages Payable 75,000
Accumulated Depreciation 125,000
Total Long-Term Liabilities $550,000
Carolina Company is an established company and does not experience any financial difficulties or have any cash flow problems. Discuss at least two items that are questionable as long-term liabilities.
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Accounting Principles Volume 1 And Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
1119786649, 978-1119786641
