Business, 10.06.2020 16:57 strawberrymochi390

A company incurred the following transactions: a. Wages of $2,750 accrued at the end of the prior fiscal period were paid this fiscal period.
b. Real estate taxes of $7,350 applicable to the current period have not been accrued.
c. Interest on bonds payable has not been accrued for the current month. The company has outstanding $870,000 of 7.5% bonds.
d. The premium related to the bonds in part c has not been amortized for the current month. The current-month amortization is $145.
e. Based on past experience with its warranty program, the estimated warranty expense for the current period should be 0.2% of sales of $1,261,500.
f. Analysis of the company's income taxes indicates that taxes currently payable are $191,400 and that the deferred tax liability should be increased by $70,470.
Show the effect, if any, of each of the transactions/adjustments on the appropriate balance sheet category or on the income statement by selecting the amount and indicating whether it is an addition (+) or a subtraction (−).
Transaction/Adjustment (a-f). Current Assets, Current Liabilties, Long-term debt, Net Income

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A company incurred the following transactions: a. Wages of $2,750 accrued at the end of the prior f...

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