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Determine the total non-current and current liabilities

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Question - The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2010, contained the following accounts.

5-year Bonds Payable 8% P 1,600,000

Bond Interest Payable 50,000

Notes Payable (3 mo.) 40,000

Notes Payable (5 yr.) 165,000

Mortgage Payable (P15,000 due currently) 200,000

Salaries Payable 18,000

Taxes Payable (due 3/15 of 2011) 25,000

Required - Determine the total non-current liabilities and current liabilities.

Reference no: EM133026345

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