Windsor, Inc. reports the following liabilities (in thousands) on its December 31, 2025, balance sheet and notes to the financial statements. Accounts payable Unearned rent revenue Bonds payable Current portion of mortgage payable Income taxes payable. Current Liabilities. Accounts Payable Uneamed Rent Revenue Salaries and Wages Payable Interest Payable $4,260.0 1.055.0 1,950.0 Income Taxes Payable 1,989.0 262.0 Prepare the liabilities section of Windsor's balance sheet as at December 31, 2025. (Enter answers in thousands to 1 decimal place. eg. 125.2.) Mortgage payable Notes payable (due in 2028) Salaries and wages payable Notes payable (due in 2026) Warranty liability-current December WINDSOR, INC. Balance Sheet (Partial) ber 31, 2025 $6,743.0 (in thousands) 332.0 855.0 2,560.0 1.414.0

Windsor, Inc. reports the following liabilities (in thousands) on its December 31, 2025, balance sheet and notes to the financial statements. Accounts payable Unearned rent revenue Bonds payable Current portion of mortgage payable Income taxes payable. Current Liabilities. Accounts Payable Uneamed Rent Revenue Salaries and Wages Payable Interest Payable $4,260.0 1.055.0 1,950.0 Income Taxes Payable 1,989.0 262.0 Prepare the liabilities section of Windsor's balance sheet as at December 31, 2025. (Enter answers in thousands to 1 decimal place. eg. 125.2.) Mortgage payable Notes payable (due in 2028) Salaries and wages payable Notes payable (due in 2026) Warranty liability-current December WINDSOR, INC. Balance Sheet (Partial) ber 31, 2025 $6,743.0 (in thousands) 332.0 855.0 2,560.0 1.414.0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Mackenzie Corp. is preparing the December 31, 2023, year-end financial statements. Following are selected unadjusted account balances: Estimated warranty liability Income tax expense Mortgage payable, 5% View transaction list Additional information: a. $11,800 of income tax was accrued monthly from January through to November inclusive and paid on the 15th day of the following month. The actual amount of tax expense for the year is determined to be $136,040. b. A customer is suing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $150,000 given similar cases in the industry. c. During December, Mackenzie had sales of $720,000. 5% of sales typically require warranty work equal to 25% of the sales amount. d. Mortgage payments are made on the first day of each month. e. $112,500 of the Unearned Revenues remain unearned at December 31, 2023. f. The 120-day note payable was dated November 15, 2023. No 1 $ 6,560…
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