Kingbird, Inc. reports the following liabilities (in thousands) in its balance sheet and notes to the financial statements as of December 31, 2022. Accounts payable $4,272.0 mortgage payable $6,755.0 Unearned Rental Income 1,067.0 Notes payable (due 2025) 344.0 Obligations with the public 1,962.0 Wages and salaries payable 867.0 Current portion of the mortgage payable 2,001.0 Notes payable (due 2023) 2,572.0

Sep 8, 2023

Kingbird, Inc. reports the following liabilities (in thousands) in its balance sheet and notes to the financial statements as of December 31, 2022.

Accounts payable $4,272.0 mortgage payable $6,755.0
Unearned Rental Income 1,067.0 Notes payable (due 2025) 344.0
Obligations with the public 1,962.0 Wages and salaries payable 867.0
Current portion of the mortgage payable 2,001.0 Notes payable (due 2023) 2,572.0
Income taxes payable 274.0 Warranty Liability: Current 1,426.0

Don't use plagiarized sources. Get Your Custom Essay on
Kingbird, Inc. reports the following liabilities (in thousands) in its balance sheet and notes to the financial statements as of December 31, 2022. Accounts payable $4,272.0 mortgage payable $6,755.0 Unearned Rental Income 1,067.0 Notes payable (due 2025) 344.0 Obligations with the public 1,962.0 Wages and salaries payable 867.0 Current portion of the mortgage payable 2,001.0 Notes payable (due 2023) 2,572.0
Just from $13/Page
Order Essay

(a)Identify which of the above liabilities are likely current and which are likely in the long term.

Account

Classification

Accounts payable

Unearned Rental Income

Obligations with the public

Current portion of the mortgage payable

Income taxes payable

mortgage payable

Notes payable (due 2025)

Wages and salaries payable

Notes payable (due 2023)

Warranty Liability: Current

(b)Prepare the liabilities section of Kingbird’s balance sheet as of December 31, 2022.

Recent Posts