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Compute the current liabilities as of December

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Question - The adjusted trial balance of X corp at the end of current year 2018 contained the following accounts, 5-year Bonds Payable 8% $2,000,000

Interest Payable 50,000

Premium on Bonds Payable 100,000

Notes Payable (3 mo.) 40,000

Notes Payable (5 yr.) 165,000

Mortgage Payable ($15,000 due currently) 200,000

Salaries and wages Payable 18,000

Income Taxes Payable (due 3/15 of 2013) 25,000

Required -

1. Compute the current liabilities as of December 31, 2018?

2. Compute interest expense on finance lease obligation?

3. Compute the noncurrent liabilities as of December 31, 2018?

Reference no: EM132540324

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