Tuesday, 19 July 2016

At December 31, 2012, Hyasaki Corporation has

At December 31, 2012, Hyasaki Corporation has the following account balances:

Bonds Payable—Due January 1, 2020 (face value, $2,000,000) …………..$1,912,000
Bond Interest Payable ………………………………………………...................80,000

Show how the above accounts should be presented on the December 31, 2012 balance sheet, and with the proper classifications.



Current liabilities

            Bond interest payable............................................................
$ 80,000
Long-term liabilities

Bonds payable, due January 1, 2020.................................
$1,912,000