Chat with us, powered by LiveChat

Zambrano Wholesale Corporation maintains its memorials on a specie reason. At the object of each year the company’s accountant obtains the compulsory knowledge to qualify accrual reason financial assertions. The subjoined specie flows occurred during the year objected December 31, 2021:
Specie profits:From customers$720,000Cause on voice4,720Loan from a persomal bank80,000Total specie profits$804,720Specie disbursements:Purchase of wares$399,000Annual protection cancelment7,080Cancelment of salaries219,000Dividends remunerated to shareholders10,000Annual fissure cancelment28,500Total specie disbursements$663,580
Selected redress fencing knowledge:

12/31/202012/31/2021Cash$29,500$170,640Accounts receivable66,500101,000Inventory89,00066,500Preremunerated protection3,400?Preremunerated fissure11,900?Cause receivable3,540?Voice receivable59,00059,000Equipment145,000145,000Accumulated deterioration(44,500)(59,000)Accounts payable (control wares)114,500131,000Salaries payable20,90025,800Notes payable080,000

Don't use plagiarized sources. Get Your Custom Essay on
accounting qestion
Just from $13/Page
Order Essay

Cause payable0?
Additional knowledge:

On March 31, 2020, Zambrano lent a customer $59,000. Cause at 8% is payable annually on each March 31. Principal is attributable in 2024.
The annual protection cancelment is remunerated in proceeding on April 30. The device end begins on May 1.
On October 31, 2021, Zambrano pretended $80,000 from a persomal bank and identified a voice remediable requital. Principal and cause at 6% are attributable on October 31, 2022.
Annual fissure on the company’s facilities is remunerated in proceeding on June 30. The fissureal end begins on July 1.

1. Qualify an accrual reason allowance assertion control 2021 (repudiate allowance taxes).

2. Determine the subjoined redress fencing amounts on December 31, 2021: