XYZ borrowed $50,000 this year. Half of the loan will be repaid next year and the remainder will be paid the following year. How will the $50,000 be reported on its balance sheet at the end of this year? (Check all that apply.)
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Ответ:
The answer is given below;
Explanation:
XYZ
Extracts from Balance Sheet
As at
Current Liabilities
Current portion of long term loan *$25,000
Long Term Liabilities
Long Term Loan $25,000
As the 50% of the loan will be repaid in next year, therefore ($50,000/2) will be shown in current liabilities. The rest of the loan is shown as long term loan as it will be repaid after 12 months.
Ответ:
Under current liabilities you must record:
Current portion of long-term debt (CPLTD) $25,000
Accrued interest payable XXX (the interest rate is not given)
Under long term liabilities you must record:
Long-term debt (LTD) $25,000
Explanation:
Current portion of long-term debt (CPLTD) account in the balance sheet is used to report the amount of long-term debt principal that is due within a year. Accrued interest expense must be recorded separately, since interests and principal must be treated separately.
Ответ:
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