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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Financial And Managerial Accounting Information For Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
7th Edition
1259726703, 9781259726705
