Homework Answers
SOLUTION
| Balance sheet | |
| Current liabilities: | |
| Accounts payable | 80,000 |
| Estimated warranty liability | 17,400 |
| GST payable | 10,700 |
| Mortgage payable due on 31 Dec. 2021 | 44,000 |
| Notes payable due on 1 April 2021 | 16,700 |
| PST payable | 8,500 |
| Total current liabilities | 177,300 |
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The following alphabetized list of selected adjusted account balances is from the records of Jasper Company...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance for doubtful accounts Bad debt expense Building Cash Merchandise inventory Notes receivable, due May 1, 2022 Notes receivable, due Nov. 30, 2020 Supplies Balance $117,000 31,100 2,490 2,240 402,000 20, 350 89,000 68,000 15,700 5,750 *Assume all balances are normal. Prepare the current asset section of LisTel's March 31, 2020, balance sheet. (List assets in the order of liquidity.)
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 850 Employee Income Tax Payable 700 Estimated Warranty Payable (Due 2020) 1,000 Longminus−Term Notes Payable (Due 2022) 34,000 FICAlong dash—OASDI Taxes Payable 1,460 Sales Tax Payable 970 Mortgage Payable (Due 2023) 13,000 Bonds Payable (Due 2024) 59,000 Current Portion of Longminus−Term Notes Payable 3,500 What is the total amount of long−term liabilities? A.$47,000 B.$93,000 C.$106,000 D.$ 34,000
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health...
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long Term Notes Payable (Due 2022) FICA OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable What is the total amount of lona -term liabilities? $22,000 650 1,000 700 34,000 1,060 670 15,000 60,000 12,500 O A. $94,000 O B. $49,000...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500 40,000 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long-Term Notes Payable 760 1,070 9,000 60,000 9,500 What is the total amount of long-term liabilities?
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee...
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14%...
Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14% notes payable issued October 1, 2019, maturing - September 30, 2021 P 1,250,000 - 16% note payable issued April 1, 2004, due on April 2021 2,000,000 On December 31, 2020, the company expects to refinance P 2,000,000 by the issuance of a long-term note payable in lump sum. The refinancing of the P 2,000,000 is at the discretion of the enterprise. Levi's December 31,...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
The following list of accounts is taken from the records of the Norman Company Ltd. at...
The following list of accounts is taken from the records of the Norman Company Ltd. at December 31, 2019: Account Balance Accounts Payable $125 Accounts Receivable 138 Bank Loan (½ Due In 2020) 110 Building 400 Cash 250 Equipment 140 Land 115 Mortgage Payable (due 2021) 280 Notes Receivable, due within 90 Days 18 Prepaid Insurance 12 Retained Earnings 214 Salaries Payable 14 Common Stock 400 Unused Supplies 70 Required: Prepare a classified balance sheet. Assume all accounts have normal...
Below are the alphabetized list of adjusted account balances. Account Accounts receivable Accumulated depreciation, building Allowance for doubtful accounts Bad debt expense Building Cash Merchandise inventory Notes receivable, due May 1, 2022 Notes receivable, due Nov. 30, 2020 Supplies Balance $117,000 31,100 2,490 2,240 402,000 20, 350 89,000 68,000 15,700 5,750 *Assume all balances are normal. Prepare the current asset section of LisTel's March 31, 2020, balance sheet. (List assets in the order of liquidity.)
Refer to the following list of liability balances at December 31, 2019 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long Term Notes Payable (Due 2022) FICA OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable What is the total amount of lona -term liabilities? $22,000 650 1,000 700 34,000 1,060 670 15,000 60,000 12,500 O A. $94,000 O B. $49,000...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable (Due 2020) Long-Term Notes Payable (Due 2022) FICA-OASDI Taxes Payable $24,000 1,450 1,000 1,600 43,000 1,060 Sales Tax Payable Mortgage Payable (Due 2023) Bonds Payable (Due 2024) Current Portion of Long Term Notes Payable 1,070 6,000 61,000 9,500 What is the total amount of long-term liabilities? O A. $104,000 O B. $49,000 O C. $110,000...
Refer to the following list of liability balances at December 31, 2017. $20,000 1,150 900 1,500 40,000 Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long-Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long-Term Notes Payable 760 1,070 9,000 60,000 9,500 What is the total amount of long-term liabilities?
Refer to the following list of liability balances at December 31, 2017 stio Accounts Payable Employee Health Insurance Payable Employee Income Tax Payable Estimated Warranty Payable Long Term Notes Payable (Due 2021) FICA-OASDI Taxes Payable Sales Tax Payable Mortgage Payable (Due 2022) Bonds Payable (Due 2023) Current Portion of Long - Term Notes Payable $25,000 650 400 1,600 36,000 On January Taggart Sales (Round your 960 470 Q A. $18,4 O B. $24,8 15,000 59,000 O C. $24,3 5,500 Q...
Refer to the following list of liability balances at December 31, 2019. Accounts Payable $13,000 Employee Health Insurance Payable 1,150 Employee Income Tax Payable 1,200 Estimated Warranty Payable (Due 2020) 1,500 Long-Term Notes Payable (Due 2022) 41,000 FICA-OASDI Taxes Payable 1,160 Sales Tax Payable 770 Mortgage Payable (Due 2023) 8,000 Bonds Payable (Due 2024) 59,000 Current Portion of Long - Term Notes Payable 5,500 What is the total amount of long-term liabilities? A. $100,000 OB. $108,000 OC. $41,000 OD. $49,000...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
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