Brite corp. had the following liabilities at december 31, year 6: accounts payable $ 55,000 unsecured notes, 8%, due 7/1/year 7 400,000 accrued expenses 35,000 contingent liability 450,000 deferred income tax liability 25,000 senior bonds, 7%, due 3/31/year 7 1,000,000 the contingent liability is an accrual for possible losses on a $1 million lawsuit filed against brite. brite’s legal counsel expects the suit to be settled in year 8 and has estimated that brite will be liable for damages in the range of $450,000 to $750,000. the deferred income tax liability is not related to an asset for financial reporting and is expected to reverse in year 8. what amount should brite report in its december 31, year 6, balance sheet for current liabilities?

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

Serious question, which is preferred in a business? pp or poopoo?

What tax is paid by the most people in the united states