LuxeLuxeâ, âInc., includes the following selected accounts inits general ledger at Decemberâ 31, 2016â:
Bonds payable (excluding current portion) . . . . . .$250,000
Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 117,000
Current portion of bonds payable . . . . . . . . . . . . .51,000
Notes payable, long-term . . . . . . . . . . . . . . . . . . . .325,000
Interest payable (due March 1, 2017) . . . . . . . . . .1,000
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . .. . 38,000
Discount on bonds payable (all long-term) . . . . . . 7,500
Accounts receivable . . . . . . . . . . . . . . . . . . . . . .. . 28,000
Prepare the liabilities section of LuxeLuxeâ, âInc.'s, balancesheet at Decemberâ 31, 2016â, to show how the company would reportthese items. Report total current liabilities and totalliabilities. â(If a box is not used in the table leave the boxâempty; do not select a label or enter aâ zero.)
LuxeLuxeâ, âInc., includes the following selected accounts inits general ledger at Decemberâ 31, 2016â:
Bonds payable (excluding current portion) . . . . . .$250,000
Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 117,000
Current portion of bonds payable . . . . . . . . . . . . .51,000
Notes payable, long-term . . . . . . . . . . . . . . . . . . . .325,000
Interest payable (due March 1, 2017) . . . . . . . . . .1,000
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . .. . 38,000
Discount on bonds payable (all long-term) . . . . . . 7,500
Accounts receivable . . . . . . . . . . . . . . . . . . . . . .. . 28,000
Prepare the liabilities section of LuxeLuxeâ, âInc.'s, balancesheet at Decemberâ 31, 2016â, to show how the company would reportthese items. Report total current liabilities and totalliabilities. â(If a box is not used in the table leave the boxâempty; do not select a label or enter aâ zero.)
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