Question: How would each of the following items be classified on

How would each of the following items be classified on Maniwaki Forestry Corp.'s (Maniwaki) September 30, 2017 balance sheet? Explain your reasoning.
a. A $2,500,000 20-year mortgage on Maniwaki's land and building. The mortgage requires annual equal payments of $293,650.
b. $125,200 withheld from employee paycheques for income taxes.
c. A $2,500 deposit received for lumber to be delivered in March 2018.
d. $300,000 owed to a supplier for equipment delivered in December 2017; $150,000 of the amount owed is due on December 15, 2017 and the remainder on November 1, 2018.
e. A $325,000 demand loan from the bank.
f. A three-year warranty provision for finished fine lumber. The total provision is $3 million with the obligation spread evenly over the three years.


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  • CreatedFebruary 26, 2015
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