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The adjusted trial balance for Livingstone Corp. at the end of December 2013, contained the following accounts. 5-year Bonds Payable 8% $2,000,000 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 Payable 18,000 Taxes Payable (due 3/15 of 2014) 25,000 The total long-term liabilities reported on the balance sheet are:

a. $2,365,000.

b. $2,350,000.

c. $2,465,000.

d. $2,450,000.

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  • Category:- Accounting Basics
  • Reference No.:- M939622

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