Solution-Prepare the current liabilities section of the

Prepare the current liabilities section of the balance sheet

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Reference no: EM132742683

Problem - Current liabilities - Bon Nebo Co. sold 30,000 annual subscriptions of Bjorn for $105 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $970,000 during the first calendar quarter of 20Y6. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 20Y6. Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31, 20Y6.

Reference no: EM132742683

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Prepare the current liabilities section of the balance sheet

Reference no: EM132742683

Reference no: EM132742683

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