GLARE COMPANY

Accounts payable 1,000,000

Deposits and Advances from customers 250,000
Notes payable 1,000,000
Credit balances from customers 200,000
Serial bonds 1,000,000
Accrues interest 150,000
Unearned rent income 100,000
Total 3,700,000

EASY COMPANY
Trade note payable 3,000,000
Note payable - bank 2,000,000
Advances from officers 500,000
Accounts payable - trade 4,000,000
Bank overdraft 300,000
Dividends payable 1,000,000
Witholding tax payable 100,000
Income tax payable 800,000
Estimated damage payable 700,000
Estimated warranty liability 600,000
Estimated premium liability 200,000
Accrued liability 900,000
Total current liabilities 14,100,000

MANCHESTER COMPANY

Income taxes witheld from employees 900,000

Cash overdraft 1,300,000
Accounts receivable with credit balance 750,000
Estimated warranty payable 500,000
Estmated damages 1,500,000
Accounts payable 3,000,000
Total current liabilities 7,950,000

MULTIPLE COMPANY
Current Non-current
Accounts payable 600,000
Accrued liabilities 50,000
Note payable - due 3-31-2021 1,000,000
Note payable - due 5-1-2021 800,000
Bonds payable - due 12/31/2022 - 2,000,000
Total 2,450,000 2,000,000

INTERCON COMPANY
 Current Liabilities:
Accounts payable 7,000,000
Note payable - bank 12,000,000
Accrued expense 4,000,000
Total current liabilities 23,000,000

Non-current Liabilities:
Mortgage payable 4,000,000
Note payable - 2022 3,000,000
Total non-current liabilities 7,000,000

CAVALIER COMPANY
Current Liabilities:
Accounts payable 6,500,000
Notes payable 3,000,000
Interest payable 150,000
Mortgage note payable 2,000,000
Bonds payable 4,000,000
Total current liabilities 15,650,000

BURMA COMPANY
Accounts payable 4,100,000
Accrued expenses 1,500,000
Credit balances of custmers account 500,000
Premiums liability 600,000
Total current liability 6,700,000

GAZ COMPANY
AP 1,900,000
Dividends payable 500,000
Income tax payable 900,000
Note payable 600,000
Total current liability 3,900,000

COBB COMPANY

Unearned revenue 1-1 650,000

Gift certificate sod 2,250,000
Total 2,900,000
Gift certificate redeemed 1,950,000
Gift certificate unredeemed for a very long time 100,000 2,050,000
Unearned revenue 12-31 850,000

Contracts 2020 (600x1000x40%) 240,000

Contracts 2021 (600x1000x60%) 360,000
 Total contracts 600,000

1. Service revenue earned 2020 (240Kx6/12) 120,000

2. Total contracts 600,000

Revenue earned (2020) - 120,000
Unearned revenue 2020 480,000

3. Service revenue earned 2021 (240Kx6/12) 120,000

Service revenue earned 2021 (360x6/12) 180,000
Service contract revenue earned 2021 300,000

4. Unearned revenue 2020 480,000

Revenue earned 2021 - 300,000
Unearned revenue 2021 180,000

HART COMPANY

Monthly subscription received (7.2M/12) 600,000

Unearned subscription
October 600,000
November 600,000
December 600,000
Unearned subscription 1,800,000

NATURE COMPANY

1. Bonus = Profit x 5% (5.25Mx5%) 262,500

2. Bonus = 5% x (Profit - Bonus)

= 5% X (5.25M-Bonus)
Bonus = = 262,500 - 5%Bonus
Bonus 1.05 = 262,500
Bonus= 250,000

3. Bonus = 5% x (5.25M-Bonus-Tax)
Tax = 30% (5.25M-B)
Bonus = 5% (5.25M-B-1.575M+.3B)
Bonus = 262,500 - .05B - 78,750 + .015B
Bonus + .05B-.015B = 262,500-78750
1.035B = 183,750
B = 177,536 177,536

4. Bonus = 5% (5.25M-T)
T = 30% (5.25M-B)
Bonus = 5% (5.25Mx30%)(5.25M-B)
Bonus = 5% (5.25M-1.575M+.30B)
Bonus = 262,500-78,750+.015B)
Bonus - .015B = 183,750
Bonus = 186,548
Probable more than 50% but less than 90% Recognition
Possible 50% - 50% Disclose
Remote less than 50%

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Oct-22 2
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