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3 years ago

Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.

Business

1 answer:

Slav-nsk [51]3 years ago

6 0

Answer:

Explanation:

The preparation of the long-term liabilities section of the balance sheet for Metlock, Inc is shown below:

Metlock, Inc

Long-term liabilities section

December 31, 2017

Long-term liabilities

Bond payable $720,000

Less: Discount on bonds payable -$26,000 $694,000

Notes payable $85,000

Total Long-term liabilities $779,000

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