The Following Is a Partial List of Account Balances for Coen,Inc.as

question 78

Essay

The following is a partial list of account balances for Coen,Inc.as of December 31,2010:
$$\begin{array} { l r } \text { Accounts payable } & \$ 5,000 \\\text { Accounts receivable } & 6,000 \\\text { Bonds payable (100\% due in 10 years) } & 40,000 \\\text { Mortgage payable ( } 10 \% \text { due within one year) } & 10,000 \\\text { Notes payable (due in six months) } & 2,000 \\\text { Salaries payable } & 800 \\\text { Sales revenue } & 49,000 \\\text { Income taxes payable } & 8,000 \\\text { Unearned revenue } & 800\end{array}$$ Required:
Prepare the liability section of Coen Inc.'s classified balance sheet for December 31,2010.

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Definitions:

CT Scan

Computerized Tomography Scan; a medical imaging technique that uses computer-processed combinations of X-ray measurements taken from different angles to produce cross-sectional images of specific areas of a scanned object, allowing the user to see inside without cutting.

Cross-sectional View

An image or representation of an object or body part cut transversely, allowing internal structures to be viewed as if on a single plane.

Radiographic Examination

The use of X-rays to view and diagnose conditions inside the body by creating images of internal structures.

High Frequency

Pertaining to electromagnetic waves or signals with a very short wavelength and a high rate of oscillation or vibration.