1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pashok25 [27]
3 years ago
11

Presented here are liability items for Skysong, Inc. at December 31, 2017. Accounts payable $298,300 FICA taxes payable $14,820

Notes payable (due May 1, 2018) 38,000 Interest payable 76,000 Bonds payable (due 2021) 1,710,000 Notes payable (due 2019) 152,000 Unearned rent revenue 456,000 Income taxes payable 6,650 Discount on bonds payable 77,900 Sales taxes payable 3,230
Prepare the liabilities section of Skysong's balance sheet.
Business
1 answer:
lord [1]3 years ago
7 0

Answer:

Explanation:

The preparation of the liabilities section of Skysong's balance sheet is shown  below:

                                          Skysong, Inc.

                                    Partial Balance Sheet

                                       December 31, 2017

Liabilities

Current Liabilities

Accounts payable                         $298,300

FICA taxes payable                      $14,820

Notes payable (due May 1, 2018) $38,000

Interest payable                             $76,000

Unearned rent revenue                 $456,000

Income taxes payable                    $6,650

Sales taxes payable                       $3,230

Total Current Liabilities                                          $893,000

Non - Current Liabilities

Bonds payable (due 2021)             $1,710,000

Notes payable (due 2019)              $152,000

Discount on bonds payable           $77,900

Total Non -Current Liabilities                                 $1,939,900

Total liabilities                                                          $2832,900

You might be interested in
Below are the account balances for Cowboy Law Firm at the end of December.
drek231 [11]

Answer:

<u>Cowboy Law Firm</u>

<u>Income statement for the year ended December.</u>

                                            $

Service revenue              8,900

Less Expenses :

Salaries expense           (2,000)

Utilities expense              (1,100)

Net Income / (Loss)         5,800

Explanation:

Income statements shows Revenues earned and Expenses incurred at the end of the trading period.

6 0
3 years ago
A client has a massage and asks the company bookkeeper to mail her the bill. the bookkeeper should make which entry to record th
Alexxx [7]
When a client has a massage and then asks the company to mail the bill to him/her, the bookkeeper of the company will decide what entry to make. The bookkeeper is the person who is in charge of all the accounts and makes sure the accounts are up to date and each client pays their bills. In this case, the bookkeeper will enter on the invoice; accounts receivable, debit; fees earned, credit. Then the bookkeeper will send the invoice to the client at the end of the business month to be paid.
7 0
3 years ago
Based on the specificity and reversibility principle, training during the off-season should?
likoan [24]

Answer:

Off-season training should be focused on building general strength and conditioning in activities that are similar to the sport an athlete. According to the principle of specificity and reversibility, specificity states that the change in physical nature of the body is in line with the training type performed. Reversibility explains how an athlete can lose the effects gained from training from he stops training. Thus to stay fit, off-season training must concentrate on exercises that keeps the body in shape for the same type of sports.

Explanation:

6 0
3 years ago
According to the basic DCF stock valuation model, the value an investor should assign to a share of stock is dependent on the le
Alina [70]

Answer:

According to the basic DCF stock valuation model, the value an investor should assign to a share of stock is dependent on the length of time he or she plans to hold the stock.

A. True

Explanation:

The DCF (Discounted Cash Flow) method of stock valuation is based on the assumption of the time-value of money.  This approach considers that the cash flow that is received today is much more than the same amount of cash flow received any other time in the future.  And the time of the future receipt or payment affects the amount of the cash flow, with decreasing consequences based on increasing time into the future.

3 0
3 years ago
Transferable skills necessary for successful employment include _____.
kati45 [8]

Answer:

d u need them in all work environments for u to thrive

4 0
3 years ago
Read 2 more answers
Other questions:
  • Journalize all transactions for Jo Jo Music. Round all amounts to the nearest dollar. (For notes stated in days, use a 360-day y
    5·1 answer
  • Paul loved to party at mardi gras, even if he was not involved in making a float or anything else. the atmosphere on the street
    5·1 answer
  • 2) You purchase one MBI July 125 call contract (equaling 100 shares) for a premium of $5. You hold the option until the expirati
    13·1 answer
  • If a taxpayer's pension or annuity includes contributions that were previously included in gross income, the taxpayer may genera
    7·1 answer
  • Liquidity ratios are used to measure a firm's ability to meet its obligations as they come due. Two of the most commonly used li
    12·1 answer
  • Jessie is watching television and sees an advertisement for a computer. The ad provided detailed information about the computer
    10·1 answer
  • Produced by paul, the ____________ album was recorded between 2/77 and 1/78 in both the uk and off the virgin islands during six
    15·1 answer
  • You are the project manager of the BHY Project. Your project customer has demanded that the project becompleted by December 1. D
    13·1 answer
  • Latvia and Estonia are two countries. Assume that currently there is no trade between them. Each country has 100 units of labor.
    13·1 answer
  • During 2021, Sysco Corp. had 950,000 shares of common stock and 100,000 shares of 7% preferred stock outstanding. The preferred
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!