Complete Cogburn's December 31, Year 4, balance sheet using the information below. Each of the items may be reported as either a current or noncurrent liability. Enter the appropriate amounts in the associated cells. Enter all amounts as positive values. If no entry is necessary, enter a zero (0) or leave the cell blank. Item Current liability Noncurrent liability 1. During the year, Cogburn received $150,000 in unearned revenues. At December 31, Year 4, Cogburn had earned $50,000 of this amount.     2. Cogburn has $250,000 of bonds payable due in Year 5 that have a discount of $12,500 associated with them.     3. A bank note of $1,000,000 with a maturity date of June 30, Year 5, was refinanced with a 15-year loan on January 25, Year 5. The first principal payment is due January 25, Year 6.     4. At December 31, Year 4, Cogburn had a deferred income tax liability of $25,000, arising from depreciation.     5. On December 18, Year 4, Cogburn declared a $.75 per share dividend to common shareholders, payable on January 18, Year 5. Cogburn has issued 750,000 shares of common stock, of which 20,000 shares are held in treasury.

Weld Corporation is constructing a plant for its own use. Weld capitalizes interest on an annual basis. The following expenditures are made during the current year: January 1, $102,000; July 1, $986,000; September 1, $2,720,000; and December 31, $7,174,000. The following debts were outstanding throughout the current year. Debt Construction note, 12% Short-term note payable, 15% Amount $340,000 1,360,000 Accounts payable (noninterest-bearing) 1,360,000 Note: Round all of your answers to the nearest whole number or whole percentage point. a. Compute the amount of interest to be capitalized during the year. Calculation of Actual Interest Debt Debt Amount Interest rate Interest Amount Specific Debt Construction loan $ 340,000 12 % $ 40,800 General Debt Note payable $ 1,360,000 15% Total Actual Interest $ 204,000✔ 244,800 Calculation of Weighted Average Accumulated Expenditures Weighted Avg. Date January 1 July 1 $ Expenditures 102,000 ✔ 986,000 ✔ Months outstanding Accum. Expenditures 12 $…

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Current Attempt in Progress Swifty Wholesalers Ltd. has a December 31 year end. The company incurred the following transactions related to current liabilities: 1. Swifty's cash register showed the following totals at the end of the day on March 17: pre-tax sales $55,000, GST $2,750, and PST $3,850. 2. 3. Swifty remitted $49,000 of sales taxes owing from March to the government on April 30. Swifty paid its employees for the week of August 15 on August 20. The gross pay was $80,000. The company deducted $4,240 for CPP, $1,264 for El, $6,400 for pension, and $16,020 for income tax from the employees' pay. 4. Swifty recorded the employer portions of CPP and El for the week of August 15 on August 20 for $4,240 and $1,770, respectively. 5. On September 15, all amounts owing for employee income taxes, CPP, and El pertaining to the payroll transactions above were paid. 6. On December 31, Swifty's legal counsel believes that the company will have to pay damages of $62,000 next year to a local…