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Larkspur, Inc. reports the following liabilities (in thousands) on its December 31, 2020, balance sheet and notes to the financial statements.
Accounts payable $4,883.0
Mortgage payable $7,281.0
Unearned rent revenue 1,324.0
Notes payable (due in 2023) 436.0
Bonds payable 2,943.0
Salaries and wages payable 642.0
Current portion of mortgage payable 2,218.0
Notes payable (due in 2021) 3,555.0
ncome taxes payable 265.2
Unused operating line of credit 3,337.6
Warranty liability—current 1,417.3
Prepare the liabilities section of Santana’s balance sheet as at January 31, 2020.

Sagot :

tutorAnne

In the question, i am thinking you mean Larkspur, Inc.instead of  Santana’s balance sheet as at January 31, 2020.

Answer: Please see explanation for answer

Explanation:

Larkspur, Inc. Balance Sheet at December 31, 2020

Current liabilities

Notes payable                                      $3,555.0

Accounts payable                                $4,883.0

Current portion of mortgage payable $2,218.0

Warranty liability                                   $1,417.3

Unearned rent revenue                       $ 1,324.0

Salaries and wages payable                $ 642.0

Income taxes payable                             $265.2

Total current liabilities                    $14,304.5

Long-term liabilities

Mortgage payable           $7,281.0

Bonds payable                  $2,943.0

Notes payable                     $436.0

Total long-term liabilities $10,660

Total liabilities= Current Liabilities + Long term Liabilities  =$24,964.5

                         ( $14,304.5 +$10,660)

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