Following are pertinent facts about events during the current year at Z Boyz Snowboards.

Requirement

1.

For each? item, indicate the account and the related amount to be reported as a current liability on

Z Boyz Snowboards' December 31 balance sheet. Round calculations to the nearest dollar.

More Info

a	December sales totaled $404,000?, and Z Boyz collected sales tax of 4 percent. The sales tax will be sent to the state of Oregon early in January.
b.	Z Boyz owes 85,000 on a? long-term note payable. At December? 31, 7 percent interest for the year plus $15,000 of principal are payable within one year.
c.	On August? 31, Z Boyzsigned a? six-month,77 percent note payable to purchase a machine costing $84,000. The note requires payment of principal and interest at maturity.
d.	Sales of $909,000 were covered by the Z Boyz product warranty. At January? 1, estimated warranty payable was $12,000. During the? year, Z Boyz recorded warranty expense of $26,400 and paid warranty claims of $30,600.
e.	On October? 31, Z Boyz received cash of $2,850 in advance for the rent on a building. This rent will be earned evenly over six months.

Answer rating: 100% (QA)

Answer Z Boyz Snowboards Current liabilities Sales tax payable 404000 x 4 ... View the full answer