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McKinley Electronics completed these selected transactions during September 2018: A (Click the icon to view the transactions.) Requirement 1. Report these items on McKinley Electronics'
McKinley Electronics completed these selected transactions during September 2018: A (Click the icon to view the transactions.) Requirement 1. Report these items on McKinley Electronics' balance sheet at September 30, 2018. Sclect the balance sheet accounts, then calculate each accounts' balance and the total current liabilities amount at September 30, 2018. (For the FICA tax, be sure to include both the employer and employee share of the tax. Round all amounts to the nearest whole dollar. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) i Transactions Amount 145.000 McKinley Electronics Balance Sheet (partial) September 30, 2018 Account Current liabilities: Accrued warranty payable Interest payable Current portion of long-term note payable Uneamed sales revenue Employee withheld income tax payable FICA tax payable Total current liabilities a. Sales of $2,400,000 are subject to an accrued warranty cost of 7%. The accrued warranty payable at the beginning of the year was $35,000, and warranty payments for the year totaled 558,000. b. On September 1, McKinley Electronics signed a $40,000 note payable that requires annual payments of $5,000 plus 6% interest on the unpaid balance beginning September 1, 2019 c. McLean, Inc., a chain of discount stores, ordered $150,000 worth of wireless speakers and related products. With its order, McLean, Inc., sent a check for $150,000 in advance, and McKinley shipped $50,000 of the goods. McKinley will ship the remainder of the goods on October 3, 2018 d. Mckinlay's September payroll of S230,000 is subject to employee withheld income tax of $30,300 and FICA tax of 7.65%. On September 30, McKinley pays employees their take-home pay and accrues all tax amounts Long-term liabilities: Note payable Print Done Choose from any list or enter any number in the input fields and then continue to the next
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