question brief exercise 10 13 presented here are liability items for sage hill inc a 4286782
Question
Brief Exercise 10-13
Presented here are liability items for Sage Hill Inc. at December 31, 2017.
Prepare the liabilities section of Sage Hill's balance sheet.
SAGE HILL INC.
Balance Sheet (Partial)
|
Accounts payable |
|
$196,250 |
|
FICA taxes payable |
|
$9,750 |
|
Notes payable (due May 1, 2018) |
|
25,000 |
|
Interest payable |
|
50,000 |
|
Bonds payable (due 2021) |
|
1,125,000 |
|
Notes payable (due 2019) |
|
100,000 |
|
Unearned rent revenue |
|
300,000 |
|
Income taxes payable |
|
4,375 |
|
Discount on bonds payable |
|
51,250 |
|
Sales taxes payable |
|
2,125 |