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At December 31, 2018, Newman Corporation's adjusted trial balance shows the following balances: LOADING...(Click the icon to view the balances.) LOADING...(Click the icon to view
At December 31, 2018, Newman Corporation's adjusted trial balance shows the following balances: LOADING...(Click the icon to view the balances.) LOADING...(Click the icon to view more information.) Requirement 1. Prepare the current liability section of Newman Corporation's balance sheet at December 31 comma 2018. (If applicable, combine the Notes Payable on one line of the statement.) Newman Corporation Balance Sheet (partial) December 31, 2018 Account Amou
i Data Table Accrued Warranty Payable 7% Notes Payable, due April 30, 2019 Unearned Service Revenue Accounts Payable Employee Income Tax Payable Accounts Receivable Interest Payable 12% Bonds Payable, due December 31, 2023 Accumulated Depreciation Treasury Stock Salaries Payable 6% Notes Payable, due December 31, 2019 Sales Tax Payable FICA Tax Payable $62,000 170,000 50,000 205,000 30,000 288,000 30,000 430,000 83.000 162,000 88.000 235,000 64,000 12,000 i More Info Newman Corporation provides multi-year warranties with its products. Half of the Accrued Warranty Liability relates to warranty liabilities that will be paid in 2019, while the other half relates to warranty liabilities to be paid in 2020. The Unearned Service Revenue pertains to a service contract that will be performed during 2019 $102,000 of the 12% bonds payable due December 31, 2023, is due on December 31, 2019. Requirement 1. Prepare the current liability section of Newman Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Newman Corporation Balance Sheet (partial) December 31, 2018 Account Amount Amount Accounts Payable Accounts Receivable Accrued Warranty Payable Accumulated Depreciation Bonds Payable (Current portion) Current liabilities: Employee Income Tax Payable FICA Tax Payable Interest Payable Notes Payable (Long-term) Notes Payable (Short-term) Salaries Payable Sales Tax Payable Total current liabilities Treasury Stock Unearned Service RevenueStep by Step Solution
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