SESSION 5 HOMEWORK Ch 4: Balance Sheet and Statement of Cash Flows (LO 4.1) Question 2 of 5 -/5 : Norma Smith is the controller of Flint Corporation and is responsible for the preparation of the year-end financial statements. The following transactions occurred during the year. For each of the following transactions, indicate the dollar amount to be reported as a current liability as of December 31, 2025. Reported as

Norma Smith is the controller of Flint Corporation and is responsible for the preparation of the year-end financial statements. The following transactions occurred during the year. For each of the following transactions, indicate the dollar amount to be reported as a current liability as of December 31, 2025. SESSION 5 HOMEWORK Ch 4: Balance Sheet and Statement of Cash Flows (LO 4.1) Question 2 of 5 15 (a) Bonuses to key employees based on net income for 2025 are estimated to be $158,600. (b) On December 1, 2025, the company borrowed $984,000 at 8% per year. Interest is paid quarterly. (c) Accounts receivable at December 31 , 2025 , is $10,271,400. An aging analysis $ $ indicates that Flint's expense provision for doubtful accounts is estimated to be 3% of the receivables balance. declared a $3 per share dividend on the 40,960 shares of common stock outstanding, to be paid on January 5 . 2026. (e) During the year, customer advances of $176,300 were received; $53,600 of this amount was earned by December 31, 2025. Norma Smith is the controller of Flint Corporation and is responsible for the preparation of the year-end financial statements. The following transactions occurred during the year. For each of the following transactions, indicate the dollar amount to be reported as a current liability as of December 31, 2025. SESSION 5 HOMEWORK Ch 4: Balance Sheet and Statement of Cash Flows (LO 4.1) Question 2 of 5 15 (a) Bonuses to key employees based on net income for 2025 are estimated to be $158,600. (b) On December 1, 2025, the company borrowed $984,000 at 8% per year. Interest is paid quarterly. (c) Accounts receivable at December 31 , 2025 , is $10,271,400. An aging analysis $ $ indicates that Flint's expense provision for doubtful accounts is estimated to be 3% of the receivables balance. declared a $3 per share dividend on the 40,960 shares of common stock outstanding, to be paid on January 5 . 2026. (e) During the year, customer advances of $176,300 were received; $53,600 of this amount was earned by December 31, 2025