The adjusted trial balance for Payne Corporation at the end of the current year contained the following accounts:
Instructions
(a) Prepare the long-term liabilities section of the balance sheet.
(b) Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.

Question

The adjusted trial balance for Payne Corporation at the end of the current year contained the following accounts:  
Instructions
(a) Prepare the long-term liabilities section of the balance sheet.
(b) Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.

Quizplus · Accepted Answer

The Answer of The adjusted trial balance for Payne Corporation at the end of the current year contained the following accounts:  
Instructions
(a) Prepare the long-term liabilities section of the balance sheet.
(b) Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.

The Adjusted Trial Balance for Payne Corporation at the End