Valix Finacc vol 2 Problem 1-8

Financial Accounting Volume 2 2008 Valix-Peralta
Chapter 1 Problem 1-8

Accounts payable  (500,000 + 100,000)                                                                 600,000

Accrued liabilities                                                                                                         50,000

Note payable - refinanced                                                                                               1,000,000

Note payable – due May 1, 2009                                                                            800,000

Total current liabilities                                                                                              2,450,000

Noncurrent liabilitiy:                                    

     Bonds payable, due December 31, 2010                                                       2,000,000