For each of the following situations, indicate the amount shown as a liability on the balance sheet of Kane, Inc., at December :
a Kane has accounts payable of $ for merchandise included in the yearend inventory. $
b Kane agreed to purchase a $ 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 days. Estimated costs of honoring this provision next year are
$$
d On December Kane declared a $ cash dividend payable on January of the following year
to shareholders of record on December $
e Kane provides a profitsharing bonus for its executives equal to five percent of the reported beforetax income for the current year.
The estimated beforetax income for the current year is $ $
