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Please provide answers in the form of a proper balance sheet. Please also specifically point out which are current and long-term liabilities like the question
Please provide answers in the form of a proper balance sheet. Please also specifically point out which are current and long-term liabilities like the question requires. I saw the other answers on Chegg and they are not helpful at all. Thank you so much and have a great day!
E9-23A. (Learning Objectives 1, 5: Reporting current and long-term liabilities) Assume that Boni Electronics completed these selected transactions during June 20X0: a. Sales of $2,400,000 are subject to estimated warranty cost of $168,000. The provision for warranty repairs at the beginning of the year was $35,000, and warranty payments for the year totaled $52,000. b. On June 1, Boni Electronics signed a $56,000 note payable that requires annual pay- ments of $14,000 plus 6% interest on the unpaid balance each June 2. c. Music For You, Inc., a chain of music stores, ordered $135,000 worth of CD players. With its order, Music For You, Inc., sent a check for $135,000 in advance, and Boni shipped $75,000 of the goods. Boni will ship the remainder of the goods on July 3, 20X0. d. The June payroll of $270,000 is subject to employee withheld income tax of $33,000 and payroll tax of 7.65%. On June 30, Boni pays employees their take-home pay and accrues all tax amounts. kom Ito and Requirement stroomba IXOS 1. Report these items on Boni Electronics' Balance Sheet at June 30, 20X0Step by Step Solution
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