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20 April, 14:52

Brief Exercise 5-9 Included in Sunland Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $244,000, Pension Liability $383,400, Discount on Bonds Payable $33,800, Unearned Rent Revenue $46,300, Bonds Payable $409,300, Salaries and Wages Payable $31,700, Interest Payable $14,810, and Income Taxes Payable $35,300. Prepare the long-term liabilities section of the balance sheet.

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  1. 20 April, 16:28
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    The preparation of the long-term liabilities section of the balance sheet is presented below:

    Sunland Company's

    December 31, 2017

    Long-term liabilities section

    Long term liabilities

    Bond payable $409,300

    Less: Discount on Bonds Payable - $33,800 $375,500

    Pension Liability $383,400

    Total long term liabilities $758,900
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