G 2018 ACCT 2121 CHAPTER 10 REPORTING AND ANALYZING LIABILITIES IN-CLASS AND HOM

Q: G 2018 ACCT 2121 CHAPTER 10 REPORTING AND ANALYZING LIABILITIES IN-CLASS AND HOM

Current liabilities: $171,000 $ Notes Payable, 3month 50000 Accounts Payable 65000 Sales tax Payable 38000 Interest Payable 3000 Current portion of long term debt 15000 171000 what is the remaining amount of the mortgage payable reported as a long term liability? $120,000-$15,000 = $105,000 $ Notes Payable, 3month 50000 Accounts Payable 65000 Sales tax Payable 38000 Interest Payable 3000 Current portion of long term debt 15000 171000

ID: 2516283 • Letter: G

Question

G 2018 ACCT 2121 CHAPTER 10 REPORTING AND ANALYZING LIABILITIES IN-CLASS AND HOMEWOK URRENT MATURITIES OF LONG-TERM DEBT: Steiner Sales Company has the following selected accounts after p djusting entries at December 31, 2017: 4 POINTS Cres Solart 30 000 65,000 50,000 FiCO 7.laa5) 14,000 Accounts Payable Notes Payable, 3-month Accumulated Depreciation-Equipment Notes Payable, 6% (due 2020) Payroll Tax Expense Interest Payable Mortgage Payable Sales Taxes Payable 4,000 NCSoeexr ? 120,000 38,000 Instructions What are the Current Liabilities for the Steiner Sales Company, assuming $15,000 of the mortgage is payable in 2018 unc account heading Current Maturity of a Long-Term Debt? Current Liabilities $ of the mortgage payable reported as a long-term liability? $ What is the remaining a

Explanation / Answer

Current liabilities: $171,000

Notes Payable, 3month

50000

Accounts Payable

65000

Sales tax Payable

38000

Interest Payable

3000

Current portion of long term debt

15000

171000

what is the remaining amount of the mortgage payable reported as a long term liability?

$120,000-$15,000 = $105,000