The following schedule represents the year-end balances of Bluegill Banks current liabilities: Account 2019 2020 2021 Accounts
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Question:
The following schedule represents the year-end balances of Bluegill Bank’s current liabilities:
Account | 2019 | 2020 | 2021 |
Accounts Payable | $100,000 | $110,000 | $90,000 |
Warranty Reserves | 0 | 60,000 | 50,000 |
Contingent Liabilities | 0 | 30,000 | 0 |
Compute any required Schedule M-1 adjustments, indicating whether “temporary” or “permanent”. Include the appropriate line of Schedule M-1 for each adjustment.
Expert Answer:
Related Book For 
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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