Ask Question
22 June, 04:55

Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.

Bonds payable (due 2021) $720,000

Notes payable (due 2019) 85,000

Discount on bonds payable 26,000

Prepare the long-term liabilities section of the balance sheet for Metlock, Inc.

+3
Answers (1)
  1. 22 June, 05:22
    0
    The preparation of the long-term liabilities section of the balance sheet for Metlock, Inc is shown below:

    Metlock, Inc

    Long-term liabilities section

    December 31, 2017

    Long-term liabilities

    Bond payable $720,000

    Less: Discount on bonds payable - $26,000 $694,000

    Notes payable $85,000

    Total Long-term liabilities $779,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Presented here are long-term liability items for Metlock, Inc. at December 31, 2017. Bonds payable (due 2021) $720,000 Notes payable (due ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers