Making adjustments before the financial statements

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» Making adjustments before the financial statements

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Jan 12, 2007, 01:23 PM

tjcota1982

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Join Date: Jan 2007

Posts: 5

Making adjustments before the financial statements

The interest accrued on a bonds payable is $20,000 as of Dec. 31st and the bond payable is $500,000.

Interest Expense……………………………..20,000
Accumulated Interest payable………………. 20,000

Is this correct?

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Jan 12, 2007, 07:13 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	Yeah.

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