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Pascal Corporation is preparing its December 31, 2019, statement of financial position. The following items...

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Accounting

Pascal Corporation is preparing its December 31, 2019, statement of financial position. The following items may be reported as either a current or non-current liability.

a. At December 31, bonds payable of $100,000,000 are outstanding for 10 years. The bonds pay 8% interest every September 30 and mature in installments of $25,000,000 every September 30, beginning September 30, 2020.

b. At December 31, 2019, Pascal Corporation declared a cash dividend on its ordinary shares outstanding 30,000,000 payable @ $3 per share February 1, 2020 to the shareholders.

Requirements: [2]

For each item above, indicate the dollar amounts to be reported as a current liability and as a non-current liability, if any.

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