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For each of the following situations, indicate the amount shown as a liability on the...

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Accounting

For each of the following situations, indicate the amount shown as a liability on the balance sheet of Kane, Inc., at December 31 :
a. Kane has accounts payable of $110,000 for merchandise included in the year-end inventory. $
b. Kane agreed to purchase a $28,000 drill press in the following January. $
c. During November and December of the current year, Kane sold products to a firm and guaranteed them against product failure for 90 days. Estimated costs of honoring this provision next year are
$2,200.$
d. On December 15, Kane declared a $70,000 cash dividend payable on January 15 of the following year
to shareholders of record on December 31.$
e. Kane provides a profit-sharing bonus for its executives equal to five percent of the reported before-tax income for the current year.
The estimated before-tax income for the current year is $600,000. $
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