On January 1, 2012, the ledger of Kindt Company contained these liability accounts.
Accounts Payable ......................................................$57,180
Sales Taxes Payable.......................................................6,680
Unearned Service Revenue..............................................29,340
During January, the following selected transactions occurred.
Jan. 1......Borrowed $14,160 in cash from Premier Bank on a 4-month, 5%, $14,160 note.
5............Sold merchandise for cash totaling $5,936, which includes 6% sales taxes.
12..........Provided services for customers who had made advance payments of $21,173. (Credit Service Revenue.)
14..........Paid state treasurer's department for sales taxes collected in December 2011, $6,612.
20..........Sold 600 units of a new product on credit at $53 per unit, plus 6% sales tax.
During January, the company's employees earned wages of $78,140. Withholdings related to these wages were $5,978 for Social Security (FICA), $5,581 for federal income tax, and $1,674 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31.
Prepare the current liabilities section of the balance sheet at January 31, 2012. Assume no change in Accounts Payable.
Current Liabilites
Accounts Payable 57180
Sales taxes payable ?
Interest payable 59
Salaries and wage expenses 64907
FICA taxes payble ?
Federal income taxes payable 5581
State income tax payable 1674
Notes payable 14160
Unearned service revenue ?
Total current liabilities ?