Problemits december 31 2015 fiscal year-end harborcraft inc, Ask an Expert

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It's December 31, 2015, fiscal year-end, HarborCraft, Inc. had a note payable to Bank One in the amount of $800,000 due March 1, 2016. On February 15, 2016, the company sold $1,200,000 of 3% bonds at par, and used the proceeds to re-pay the Bank One note. Financial statements for the year ended December 31, 2015 are issued March 15, 2016.

In the December 31, 2015 financial statements, how much should HarborCraft show as current and non-current liability?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92809819

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