EX 11-1 Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Magazine 20XX for...
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EX 11-1 Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Magazine 20XX for $85 during December 20Y8. These new subscribers will receive monthly issues, beginning in January 20Y9. In addition, the business had taxable income of $840,000 during the first calendar quarter of 20Y9. The federal tax rte is 40%. A quarterly tax payment will be made on April 12, 20Y9 OBJ. 1 Prepare the Current liabilities section of the balance sheet for Bon Nebo Co. on March 31, 20Y9.
Advances on Magazine Subscription is (25000*85*9/12)
but, how can I get 9/12?
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