Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Banff Electronics completed the selected transactions during June 2018 Click the icon to view the transactions -un Requirement 1. Report the tema on Band Electronic

image text in transcribed
Banff Electronics completed the selected transactions during June 2018 Click the icon to view the transactions -un Requirement 1. Report the tema on Band Electronic balance sheet at June 30, 2018 Select the balance sheet accounts, then calculate each account balance and the total current les monto June 30, 2018. (For the FICA tox, be sure to include both the employer and employee share of the tax Round l amounts to the newest whole dollar, a box is not used in the tableave the box amply do not select a label or enter a mo) Banff Electronics Balance Sheet partian June 30, 2018 Transactions Account Amount Currenties a Sales of $3,250,000 are subject to an accrued warranty cost of 3% The accrued warranty payable at the beginning of the year was $13,000, and warranty payments for the year totaled $62.000. b. On June 1, Bar Electronica ed a $20,000 non payable that requires anual payment of $4.000 pha on or on the unpaid balance beginning June 1, 2010 c. Harrison, Inc., a chain of discount stores ordered 5110,000 worth of wres speakers and related products with its order, Hermion, Inc., santa check for $110.000 in advance, and Bandit shiped $80,000 of the goods Banff will the the remainder of the goods on July 3, 2018 d. Bantt's June payroll of $200,000 is subject to employee withheld income tax of $31,000 and FICAR 76%. On June 30, Bant pays employees to take home pay and accres of mounts or Print Done coh Banff Electronics completed the selected transactions during June 2018 Click the icon to view the transactions -un Requirement 1. Report the tema on Band Electronic balance sheet at June 30, 2018 Select the balance sheet accounts, then calculate each account balance and the total current les monto June 30, 2018. (For the FICA tox, be sure to include both the employer and employee share of the tax Round l amounts to the newest whole dollar, a box is not used in the tableave the box amply do not select a label or enter a mo) Banff Electronics Balance Sheet partian June 30, 2018 Transactions Account Amount Currenties a Sales of $3,250,000 are subject to an accrued warranty cost of 3% The accrued warranty payable at the beginning of the year was $13,000, and warranty payments for the year totaled $62.000. b. On June 1, Bar Electronica ed a $20,000 non payable that requires anual payment of $4.000 pha on or on the unpaid balance beginning June 1, 2010 c. Harrison, Inc., a chain of discount stores ordered 5110,000 worth of wres speakers and related products with its order, Hermion, Inc., santa check for $110.000 in advance, and Bandit shiped $80,000 of the goods Banff will the the remainder of the goods on July 3, 2018 d. Bantt's June payroll of $200,000 is subject to employee withheld income tax of $31,000 and FICAR 76%. On June 30, Bant pays employees to take home pay and accres of mounts or Print Done coh

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions