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Sagot :
The total long-term liabilities reported on the balance sheet is $3355000 based on adjusted trial balance for wayne company at the end of the current year.
the The total long-term liabilities can be calculated as:
Total long term liabilities = Bond payable + Premium on bond payable +
note payable (5 yrs.) + Long term Mortgage
payable
= $2900000 + 102000 + 165000 + (201000
-13000)
= $3355000
the complete question is:
The adjusted trial balance for wayne Company at the end of the current year, contained the following accounts.
5-year Bonds Payable 9% is $2900000
Interest Payable is 51000
Premium on Bonds Payable is 102000
Notes Payable (3 months.) is 40000
Notes Payable (5 yr.) is 165000
Mortgage Payable ($13000 due currently) is 201000
Salaries and wages Payable is 16000
Income Taxes Payable (due 3/15 of 2022) is 23000
The total long-term liabilities reported on the balance sheet are
a) $3368000.
b) $3266000.
c) $3355000.
d) $3253000.
learn more about long-term liabilities here
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