Solution-Prepare non-current liabilities section of the

Prepare non-current liabilities section of the balance sheet

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Reference no: EM133114666

Question - The adjusted trial balance for Ivanhoe Corporation at July 31, 2021, the corporation's fiscal year end, contained the following:

Accounts payable	$ 86,500	Note payable	$126,000
Accounts receivable	101,000	Lease liability	58,500
Bonds payable, due 2025	184,500	Note receivable, due December 2021	31,500
Interest payable	4,500	Unearned revenue	9,000

Of the lease liability amount, $14,750 is due within the next year. Total payments on the note payable in the fiscal year 2022 will be $24,500: $6,500 is for interest and $18,000 for principal repayments.

Required - Prepare the non-current liabilities section of the balance sheet as at July 31, 2021.

Reference no: EM133114666

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Prepare non-current liabilities section of the balance sheet

Reference no: EM133114666

Reference no: EM133114666

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