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31 January, 17:48

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.

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  1. 31 January, 21:40
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    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
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