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icang [17]
3 years ago
6

The adjusted trial balance for Waterway Industries at the end of the current year, 2021, contained the following accounts. 5-yea

r Bonds Payable 9% $3000000 Interest Payable 48000 Premium on Bonds Payable 98000 Notes Payable (3 months.) 38000 Notes Payable (5 yr.) 166000 Mortgage Payable ($13000 due currently) 200000 Salaries and wages Payable 16000 Income Taxes Payable (due 3/15 of 2022) 23000 The total long-term liabilities reported on the balance sheet are $_______.
Business
1 answer:
ira [324]3 years ago
5 0

Answer:

The total long-term liabilities reported on the balance sheet are $3,451,000.

Explanation:

<u>Details                                                        Amount ($)</u>

Bonds Payable 9%                                     3,000,000

Premium on Bonds Payable                           98,000

Notes Payable (5 yr.)                                     166,000

Mortgage Payable (200,000 - 13,000)      <u>   187,000 </u>

The total long-term liabilities                  <u> 3,451,000 </u>

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