User Account

All Pages

How do report any liability on the company balance sheet

Assignment Help Financial Accounting
Reference no: EM132604002

Time Traveler Magazine completed the following transactions during 2016:

Oct 31: Sold one-year subscriptions, collecting cash of $1,750, plus HST of 13%.
Dec 31: Remitted (paid) HST to Canada Revenue Agency (CRA).
Dec 31: Made the necessary adjustment at year-end.

Question (a) Journalize these transactions

Question (b) report any liability on the company's balance sheet at December 31st.

Reference no: EM132604002

Questions Cloud

Find how will warranty liability be reported on company : Journal entries related to the warranty for the current year. How will the warranty liability be reported on the company's year-end balance sheet?
Develop a draft marketing budget : Develop a draft marketing budget - Write a report on the marketing budget and expenditure and Draft a word processed leder to the CEO
What do we mean by form follows function : In the context of cell biology, what do we mean by form follows function?
Define definition of health by the world health organization : Consider the definition of health by the World Health Organization when answering this question. Make sure to make a distinction between health and healthcare.
How do report any liability on the company balance sheet : Report any liability on the company's balance sheet at December 31st.Oct 31: Sold one-year subscriptions, collecting cash of $1,750, plus HST of 13%.
Provide the same number of atp molecules : Indicate whether the statement is TRUE or FALSE by typing 'true' or 'false' into the answer box. Explain why.
Discuss health care support systems available in community : You are admitting a 19-year old female college student to the hospital for fevers. Using the patient information provided, choose a culture unfamiliar to you.
Prepare the adjusting entry at Dec : Prepare the adjusting entry at Dec 31, 2017, to report the investment securities at fair value. All securities are considered to be trading securities
Each health care organization is unique in reference : Each health care organization is unique in reference to its strengths and weaknesses

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd