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The Adjusted Trial Balance for Hamilton Corp The Total Long-Term Liabilities Reported on the Balance Sheet Are

Question 199

Multiple Choice

The adjusted trial balance for Hamilton Corp. at the end of the current year, 2017, contained the following accounts.  5-year Bonds Payable 8%$1,600,000 Bond Interest Payable 50,000 Premium on Bonds Payable 100,000 Notes Payable (3 mo.)  40,000 Notes Payable (5 yr.)  165,000 Mortgage Payable ($15,000 due currently)  200,000 Salaries and Wages Payable 18,000 Taxes Pavable (due 3/15 of next yr)  25,000\begin{array}{lr}\text { 5-year Bonds Payable } 8 \% & \$ 1,600,000 \\\text { Bond Interest Payable } & 50,000 \\\text { Premium on Bonds Payable } & 100,000 \\\text { Notes Payable (3 mo.) } & 40,000\\\text { Notes Payable (5 yr.) } & 165,000 \\\text { Mortgage Payable (\$15,000 due currently) } & 200,000 \\\text { Salaries and Wages Payable } & 18,000 \\\text { Taxes Pavable (due } 3 / 15 \text { of next yr) } & 25,000\end{array} The total long-term liabilities reported on the balance sheet are


A) $1,965,000
B) $1,950,000
C) $2,065,000
D) $2,050,000

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