Ask Question
31 July, 13:59

At December 31, 2017, Pharoah Corporation has the following account balances: Bonds payable, due January 1, 2026 $2,300,000 Discount on bonds payable 95,000 Interest payable 88,000Show how the above accounts should be presented on the December 31, 2017, balance sheet, including the proper classifications.

+3
Answers (1)
  1. 31 July, 14:58
    0
    Answer and Explanation:

    Partial balance sheet of Vaughn Corporation is as follows:

    Particular Amount

    Current liabilities

    Interest payable $88,000

    Long-term Liabilities

    Bonds Payable $2,300,000

    Less: Discount on bonds payable ($95,000)

    $2,293,000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At December 31, 2017, Pharoah Corporation has the following account balances: Bonds payable, due January 1, 2026 $2,300,000 Discount on ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers