Brief Exercise 10-17 Presented here are liability items for Shamrock, Inc. at De

Question

Brief Exercise 10-17 Presented here are liability items for Shamrock, Inc. at December 31, 2019. SHAMROCK, INC. Balance Sheet (Partial) $204,100 FICA taxes payable$10,140 52,000 Accounts payable Notes payable (due May 1, 2019) 26,000 Interest payable Bonds payable (due 2023) Unearned rent revenue 1,170,000 Notes payable (due 2021) 312000cme taxesb104.000 312,000 Incmetaxes payable 53,300 Sales taxes payable 4,550 2,210 Discount on bonds payable Prepare the liabilities section of Shamrock's balance sheet.

Explanation / Answer

SHAMROCK INC. Balance sheet (Partial) Amount in$ Amount in$ Liabilities and Net worth Current Liabilities Account payable             2,04,100 Notes payable                 26,000 Unearned rent revenue             3,12,000 FICA taxes payable                 10,140 Interest payable                 52,000 Income tax payable                   4,550 Sales taxes payable                   2,210 Total current Liabilities              6,11,000 Long term Liabilities Bonds payable           11,70,000 Less : Discount on bonds payables               -53,300            11,16,700 Notes payable                  1,04,000 Total Long term Liabilities            12,20,700 Total Liabilities            18,31,700

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.