Bon Nebo Co. sold 18,000 annual subscriptions of Magazine 20XX for $44 during December 20Y8. These new subscribers will receive monthly issues, beginning in January 20Y9. In addition, the business had taxable income of $500,000 during the first calendar quarter of 20Y9. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y9. Prepare the Current Liabilities section of the balance sheet for Bon Nebo Co. on March 31, 20Y9. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 20Y9 Federal income taxes payable Advances on magazine subscriptions Total current liabilities

Bon Nebo Co. sold 18,000 annual subscriptions of Magazine 20XX for $44 during December 20Y8. These new subscribers will receive monthly issues, beginning in January 20Y9. In addition, the business had taxable income of $500,000 during the first calendar quarter of 20Y9. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y9. Prepare the Current Liabilities section of the balance sheet for Bon Nebo Co. on March 31, 20Y9. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 20Y9 Federal income taxes payable Advances on magazine subscriptions Total current liabilities

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 34E

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Current Liabilities Bon Nebo Co. sold 18,500 annual subscriptions of Bjorn for $57 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $664,000 during the first calendar quarter of 20Y6. The federal tax rate is 35%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the “Current liabilities” section of the balance sheet for Bon Nebo Co. on March 31, 20Y6. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 20Y6 Current liabilities: Advances on magazine subscriptions $fill in the blank 1 Federal income taxes payable fill in the blank 2 Total current liabilities $fill in the blank 3
Current Liabilities Bon Nebo Co. sold 13,000 annual subscriptions of Bjorn for $46 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $376,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31, 20Y6. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 20Y6 Current liabilities: Advances on magazine subscriptions Federal income taxes payable Total current liabilities
Current liabilitiesBorn Nebo Co. sold 25,000) annual subscriptions of Magazine 20XXfor$85 during December 20Y8. These new subscribers will receive monthlyissues, beginning in January 2019. In addition, the business had taxable income of $840,000 during the first calendar quarter of 2019. The federaltax rate is 40%. A quarterly tax payment will be made on April 12, 2019.Prepare the Current liabilities section of the balance sheet for Bon NeboCo. on March 31, 20Y9.
Current liabilities Bon Nebo Co. sold 11,500 annual subscriptions of Bjorn for $53 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $384,000 during the first calendar quarter of 2016. The federal tax rate is 38%. A quarterly tax payment will be made on April 12, 2016. Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31, 20Y6. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 2016 Line Item Description Current liabilities: Advances on magazine subscriptions $ Federal income taxes payable Total current liabilities Amount
Bon Nebo Co. sold 19,000 annual subscriptions of Bjorn for $51 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $612,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the “Current liabilities” section of the balance sheet for Bon Nebo Co. on March 31, 20Y6.
Bon Nebo Co. sold 30,000 annual subscriptions of Bjorn for $105 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $970,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the “Current liabilities” section of the balance sheet for Bon Nebo Co. on March 31, 20Y6. Current liabilities: Advances on magazine subscriptions Federal income taxes payable Total current liabilities
Current Liabilities By the Month Inc. sold 12,500 annual magazine subscriptions for $50 during December 20Y4. These new subscribers will receive monthly issues, beginning in January 20Y5. By the Month Inc. issued a $98,000, 180–day, 5% note payable on December 1, 20Y4. On March 31, 20Y5, By the Month Inc. had accounts payable of $28,800 and accrued wages payable of $6,100. Prepare the Current Liabilities section of the balance sheet for By the Month Inc. on March 31, 20Y5. Do not round intermediate calculations and round your final answers to the nearest dollar. (Assume 360 days in a year.) By the Month Inc. Current Liabilities Section of the Balance Sheet March 31, 20Y5 Current liabilities: Accounts payable $fill in the blank 2 Accrued wages payable fill in the blank 4 Accrued interest payable fill in the blank 6 Notes payable fill in the blank 8 Advances on magazine subscriptions fill in the blank 10 Total current liabilities $fill in the blank 11
Hh1. Account