ch 10 Q5

Current habilities Bon Nebo Co. sold 18,000 annual subscriptions of Bjorn for $63 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $716,000 during the first calendar quarter of 20y6. The federal tax rate is 40%. A quarteriy tax payment will be made on April 12, 20Y6. Prepare the "Current liabilibes" section of the balance sheet for Bon Nebo Co. on March 31, 20Y6