Question
The following schedule represents the year-end balances of Bluegill Banks current liabilities: Account 2019 2020 2021 Accounts Payable $100,000 $110,000 $90,000 Warranty Reserves 0 60,000
The following schedule represents the year-end balances of Bluegill Bank’s current liabilities:
Account | 2019 | 2020 | 2021 |
Accounts Payable | $100,000 | $110,000 | $90,000 |
Warranty Reserves | 0 | 60,000 | 50,000 |
Contingent Liabilities | 0 | 30,000 | 0 |
Compute any required Schedule M-1 adjustments, indicating whether “temporary” or “permanent”. Include the appropriate line of Schedule M-1 for each adjustment.
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ANSWER Accounts payable Permanent increase of 20000 Warrant...
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
