The following amounts are shown on Plymouth Company’s adjusted trial balance for the year…

 
   

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The following amounts are shown on Plymouth Company’s adjusted trial balance for the year 2012:Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 36,000Property Taxes Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,300Short-Term Notes Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,000Mortgage Payable (due within 1 year) . . . . . . . . . . . . . . . . . . . . . . . 28,000Mortgage Payable (due after 1 year). . . . . . . . . . . . . . . . . . . . . . . . . 300,000Accrued Interest on Mortgage Payable . . . . . . . . . . . . . . . . . . . . . . . 3,000Lease Liability (current portion). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,000Lease Liability (long term) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 414,000Rent Payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000Income Taxes Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000Federal and State Unemployment Taxes Payable . . . . . . . . . . . . . . . . 16,000Required:Prepare the liabilities section of Plymouth Company’s balance sheet at December 31, 2012.View Solution:
The following amounts are shown on Plymouth Company s adjusted t