On December 31, Hughes Company has the following list of account balances.Additional Resources Accounts Payable$42,600 Equipment$30,500 Accounts Receivable49,100 Service Revenue41,800 Accumulated Depreciation, Equipment19,600 Legal Expense7,800 Accumulated Depreciation, Buildings62,100 Note Payable, due in two years.20,000 Advertising Expense5,000 Prepaid Rent20,500 Beginning Retained Earnings97,000 Rent Expense8,500 Buildings119,000 Salaries Expense3,400 Capital Stock53,900 Salaries Payable10,700 Cash65,600 Supplies24,500 Dividends12,200 Supplies Expense1,600Required:Compute the dollar amount of the total Non-current (Long-term) liabilities as it would appear on the December 31 balance sheet.

Non-Current liabilities refer to the obligations that are to be settled after 12 months from the…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 2PA: The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal...

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Additional Resources

Accounts Payable	$42,600	Equipment	$30,500
Accounts Receivable	49,100	Service Revenue	41,800
Accumulated Depreciation, Equipment	19,600	Legal Expense	7,800
Accumulated Depreciation, Buildings	62,100	Note Payable, due in two years.	20,000
Advertising Expense	5,000	Prepaid Rent	20,500
Beginning Retained Earnings	97,000	Rent Expense	8,500
Buildings	119,000	Salaries Expense	3,400
Capital Stock	53,900	Salaries Payable	10,700
Cash	65,600	Supplies	24,500
Dividends	12,200	Supplies Expense	1,600

Required:

Compute the dollar amount of the total Non-current (Long-term) liabilities as it would appear on the December 31 balance sheet.

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