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Jasper Electronics completed these selected transactions during September 2021: i) (Click the icon to view the transactions.) Requirement 1. Report these items on Jasper Electronics'
Jasper Electronics completed these selected transactions during September 2021: i) (Click the icon to view the transactions.) Requirement 1. Report these items on Jasper Electronics' balance sheet at September 30, 2021. Transactions a. Sales of $2,000,000 are subject to an accrued warranty cost of 2%. The accrued warranty payable at the beginning of the year was $31,000, and warranty payments for the year totaled $61,000. b. On September 1, Jasper Electronics signed a $60,000 note payable that requires annual payments of $12,000 plus 7% interest on the unpaid balance beginning September 1,2022. c. Operata, Inc., a chain of discount stores, ordered $110,000 worth of wireless speakers and related products. With its order, Operata, Inc., sent a check for $110,000 in advance, and Jasper shipped $70,000 of the goods. Jasper will ship the remainder of the goods on October 3, 2021. d. Jasper's September payroll of $220,000 is subject to employee withheld income tax of $30,600 and FICA tax of 7.65%. On September 30 , Jasper pays employees their take-home pay and accrues all tax amounts
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