Question
Baddeck Marina experienced these events during 2020. (Click the icon to view the facts.) Requirement For each item, indicate the account and the related amount
Baddeck Marina experienced these events during 2020. (Click the icon to view the facts.) Requirement For each item, indicate the account and the related amount to be reported as a current liability on the Baddeck Marina balance sheet at December 31, 2020/ (Round your answers to the nearest dollar.) C. d. e. b. a. FP Account Amount More Info - X a. December revenue totalled $150,000 and, in addition, Baddeck collected sales tax of 8% The sales tax amount will be remitted to the province of New Brunswick early in January b. On October 31, Baddeck signed a six-month, 11% note to purchase a boat costing $97,000. The note requires payment of principal and interest at maturity c. On August 31. Baddeck received cash of $1.900 in advance or service revenue This revenue will be earned evenly over six months. d. Revenues of $1.000.000 were covered by Baddeck's service warranty At January 1, estimated warranty payable was $11,300. During the year, Baddeck recorded warranty expense of $35,000 and paid warranty claims of $35.200 e. Baddeck owes $85,000 on a long-term note payable. At December 31, 12% interest for the year plus $45.000 of this principal are payable within one year. Print Done
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