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Katen [24]
2 years ago
13

Lakeview Company completed the following two transactions. The annual accounting period ends December 31.

Business
1 answer:
Ann [662]2 years ago
6 0

Answer: Check attachment and explanation.

Explanation:

a. The question has been solved. Check the attachment.

b. LAKEVIEW COMPANY

Balance sheet (Partial)

December 31

Current liabilities

FICA Payable=$4800 + $4800= $9600

Charitable contribution payable = $2400

Withheld income tax payable = $6400

State and Federal unemployment tax payable = $560

Unearned rent revenue = $5700 - $3800 = $1900

Total current liabilities = $20860

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The Journal Entry and their narrations is shown below:-

Explanation:

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