EBK HORNGREN'S ACCOUNTING
12th Edition
ISBN: 9780134487212
Author: MILLER-NOBLES
Publisher: PEARSON CO
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Textbook Question
Chapter 4, Problem S4.14SE
Calculating the
Learning Objective 6
End of Line Montana Registration has these account balances of December 31, 2018:
Requirements
- Calculate End of the Line Montana Refrigeration’s current ratio.
- How much in current assests does End of the Line Montana Refrigeration have for every dollar of current liabilities that it owes?
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(Learning Objective 4: Record and report current liabilities) Travis Publishingcompleted the following transactions for one subscriber during 2018:Oct 1 Sold a one-year subscription, collecting cash of $1,800, plus sales tax of 10%.The subscription will begin on October 1.Nov 15 Remitted (paid) the sales tax to the state of South Carolina.Dec 31 Made the necessary adjustment at year-end.Requirement1. Journalize these transactions (explanations not required). Then report any liability on thecompany’s balance sheet at December 31, 2018.
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Chapter 4 Solutions
EBK HORNGREN'S ACCOUNTING
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