Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
- At the end of each year, a mortgage is reported under how many sections of the balance sheet?

Question

Use the present value and future value tables included in Appendix 8 and on the textbook companion website. 
- At the end of each year, a mortgage is reported under how many sections of the balance sheet?

Quizplus · Accepted Answer

A mortgage is reported under two sections of the balance sheet: current liabilities (for the portion due within the next year) and long-term liabilities (for the portion due beyond the next year).

Use the Present Value and Future Value Tables Included in Appendix