Business
Business, 31.10.2019 00:31, rakanmadi87

Culver corporation is preparing its december 31, 2020, balance sheet. the following items may be reported as either a current or long-term liability. 1. on december 15, 2020, culver declared a cash dividend of $3.00 per share to stockholders of record on december 31. the dividend is payable on january 15, 2021. culver has issued 1 shares of common stock, of which 5 shares are held in treasury. 2. at december 31, bonds payable of $109993000 are outstanding. the bonds pay 12% interest every september 30 and mature in installments of $27498250 every september 30, beginning september 30, 2021. 3. at december 31, 2019, customer advances were $13996000. during 2020, culver collected $30181000 of customer advances; advances of $26405000 should be recognized in income. for each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.
- reported as

1.dividends payable $ current liability long-term liability

2. bonds payable (september 30, 2018 installment) $ current liability long-term liability

interest payable $ current liability long-term liability

3. customer advances $ current liability long-term liability

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