Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2022, discipline company, a calendar

On January 1, 2022, Discipline Company, a calendar-year company, issued $800,000 of notes payable, of...

50.1K

Verified Solution

Question

Accounting

On January 1, 2022, Discipline Company, a calendar-year company, issued $800,000 of notes payable, of which $200,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2022, is

Current liabilities, $800,000.

Long-term debt, $800,000.

Current liabilities, $200,000; Long-term debt, $600,000.

Current liabilities, $200,000; Long-term debt, $800,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Question 1. The DDM model assumes that the value of a share of stock equals the...

Statistics
1.2K views

The Gardner Theater, a community playhouse, needs to determine the lowest-cost production budget for an upcoming...

Advance Math
1.2K views

Find at least the first six nonzero terms in the power series expansion about x=0 for...

Mechanical Engineering
1.2K views

Why have gas turbine engines almost completely replaced piston engines on new corporate-sized twin-engine aircraft?

General Management
1.2K views

BSBWOR502 - LEAD AND MANAGE TEAM EFFECTIVENESS 2 Did you have the recommended mix of roles—ie...

Accounting
1.2K views

4-5 The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY...

Basic Math
1.2K views

Which wave will cancel out the wave shown in the graph Select one a D...

Statistics
1.2K views

An economist needs to estimate the proportion of residents of Okeechobee that have earned a...

Accounting
1.2K views

Noosa Ltd owns a pie shop on Hastings Street. The carrying amount of the shop...

Accounting
1.2K views

Live It Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast...

Accounting
1.2K views

ndicate whether each decision is most likely to be made using managerial accounting information or...

Accounting
1.2K views

A review of the accounting records of Baird Manufacturing indicated that the company incurred the...