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Hi, please help with the question below. Make sure you follow the three requirements: 1. Answer the question only in the case that you can
Hi, please help with the question below. Make sure you follow the three requirements:
1. Answer the question only in the case that you can make sure you would answer them all
2. Choose the title for each column from my picture (I have posted the options for you, so just choose it, don't make it up by yourself) YOU SHOULD ALSO CALCULATE THE NUMBER FOR EACH QUESTION, NOT JUST CHOOSE THE TITLE!!
3. Strictly follow the format of the chart below to answer the question.
Following are pertinent facts about events during the current year at Crow Bird Snowboards. (Click the icon to view the facts.) Requirement 1. For each item, indicate the account and the related amount to be reported as a current liability on Crow Bird Snowboards' December 31 balance sheet. Round calculations to the nearest dollar. (If a box is not used in the table, leave the box empty, do not select a label or enter a zero.) Account Amount (If a box is not used in the table, leave the box empty, do not select a label or enter a zero.) Account Amount Current portion of long-term note payable Estimated warranty payable Interest expense Interest payable Note payable, short-term Sales tax payable Unearned rent revenue Warranty expense A More Info - X a. b. December sales totaled $403,000, and Crow Bird collected sales tax of 4 percent. The sales tax will be sent to the state of Oregon early in January Crow Bird owes $150,000 on a long-term note payable. At December 31, 6 percent interest for the year plus $30,000 of principal are payable within one year. On August 31, Crow Bird signed a six-month, 5 percent note payable to purchase a machine costing $90,000. The note requires payment of principal and interest at maturity. Sales of $962,000 were covered by the Crow Bird product warranty. At January 1, estimated warranty payable was $11,600. During the year, Crow Bird recorded warranty expense of $27,500 and paid warranty claims of $30,400. On October 31, Crow Bird received cash of $4,290 in advance for the rent on a building. This rent will be earned evenly over six months. Print DoneStep by Step Solution
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