The Following Is a Partial List of Account Balances for Van

question 59

Essay

The following is a partial list of account balances for Van Buskirk Inc. as of December 31, 20X1: $$\begin{array} { | l | r | } \hline \text { Trade Payables } & \$ 5,000 \\\hline \text { Trade Receivables } & 6,000 \\\hline \text { Bonds payable (100\% due in 10 years) } & 40,000 \\\hline \text { Mortgage payable (10\% due within one year) } & 10,000 \\\hline \text { Notes payable (due in 6 months) } & 2,000 \\\hline \text { Salaries payable } & 800 \\\hline \text { Sales revenue } & 49,000 \\\hline \text { Current income taxes payable } & 8,000 \\\hline \text { Deferred revenue } & 800 \\\hline\end{array}$$ Required: Prepare the liability section of Van Buskirk's classified statement of financial position for December 31, 20X1.

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Definitions:

Clarence Thomas

An Associate Justice of the Supreme Court of the United States, nominated by President George H.W. Bush, and known for his conservative judicial philosophy.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature, typically in the workplace or educational settings.

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The introduction of new technologies or the improvement of existing technologies to create better products, services, or processes.

Data Processing

The collection, manipulation, and management of data to produce meaningful information.