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13-Prepare liabilities section of balance sheet.
(LO 7), AP
Presented here are liability items for Desmond Inc. at December 31, 2014. Prepare the liabilities section of Desmond's balance sheet.
Accounts payable $157,000
Notes payable (due May 1, 2015) 20,000
Bonds payable (due 2018) 900,000
Unearned rent revenue 240,000
Discount on bonds payable 41,000
FICA taxes payable $7,800
Interest payable 40,000
Notes payable (due 2016) 80,000
Income taxes payable 3,500
Sales taxes payable 1,700


Current Liabilities
Accounts payable $157,000
Notes payable (due May 1, 2015)          20,000
Unearned rent revenue 240,000
FICA taxes payable       7,800
Interest payable     40,000
Income taxes payable       3,500
Sales taxes payable       1,700
Total Current Liabilities 470,000

Noncurrent Liabilities
Bonds payable (due 2018) 900,000
Discount on bonds payable (41,000)
Notes payable (due 2016) 80,000
Total Noncurrent Liabilities 939,000...

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