Chapter 13 Current Debts and Contingencies Essay

CHAPTER 13

Current Liabilities and Contingencies

PROJECT CLASSIFICATION DESK (BY TOPIC)

Topics 1 ) Concept of liabilities; definition and classification of current financial obligations. 2 . Accounts and notes payable; returns payable. three or more. Short-term commitments expected to always be refinanced. some. Deposits and advance payments. 5. Paid absences. 6. Collections intended for third parties. several. Contingent liabilities (General). 8. Guaranties and warranties. 9. Premiums and awards agreed to customers. Queries 1, 2, 3, 4, 6, 8 7, 10 9, 10 12, your five 13, 13, 15 sixteen 17, 18, 19, twenty, 22 21, 23 twenty-four, 25 you, 2, several 4 5 8, 9 6, several 10, 10 13, 13 15 12 5, 6, 16 7, 8, being unfaithful, 16 13, 16 10, 11, sixteen 12, 15, 16 13 3, some 10, 10, 13 a few, 6, six, 12, 13 8, on the lookout for, 12, 18 2, twelve, 11, 13 9 six, 7 your five, 6, six 7, 8 Brief Physical exercises Exercises you, 16 Complications 1, a couple of Concepts pertaining to Analysis one particular

2, of sixteen 3, 4

1, a couple of

1, a couple of 3, 5 2

21, 27, 28 10. Self-insurance, litigation, says, and examination, asset retirement living obligations. 14. Presentation and analysis. 29, 30, 23

17, 18, 19

several

Copyright В© 2010 John Wiley & Sons, Incorporation.

Kieso, More advanced Accounting, 13/e, Solutions Manual

(For Teacher Use Only)

13-1

PROJECT CLASSIFICATION STAND (BY LEARNING OBJECTIVE)

Learning Objectives 1 ) 2 . several. 4. 5. Describe the type, type, and valuation of current debts. Explain the classification concerns of short-term debt anticipated to be refinanced. Identify types of employee-related liabilities. Discover the criteria used to account for and disclose gain and reduction contingencies. Make clear the accounting for different types of loss contingencies. Show how to present and evaluate liabilities and contingencies. Quick Exercises one particular, 2, a few, 4, 5, 6 four 7, almost 8, 9 10, 11, 12, 13, 14, 15 10, 11, 12, 13, 16, 15 Exercises 1, 2, 7 a few, 4 a few, 6, 8, 9 13 10, eleven, 12, 13, 14, 15 16, 17, 18, nineteen 3, some 7, 15, 11, 13 2, a few, 6, six, 8, on the lookout for, 10, 10, 12, 13, 14 on the lookout for Problems you, 2

6.

13-2

Copyright В© 2010 John Wiley & Kids, Inc.

Kieso, Intermediate Accounting, 13/e, Alternatives Manual

(For Instructor Make use of Only)

PROJECT CHARACTERISTICS TABLE

Item E13-1 E13-2 E13-3 E13-4 E13-5 E13-6 E13-7 E13-8 E13-9 E13-10 E13-11 E13-12 E13-13 E13-14 E13-15 E13-16 E13-17 E13-18 E13-19 P13-1 P13-2 P13-3 P13-4 P13-5 P13-6 P13-7 P13-8 P13-9 P13-10 P13-11 P13-12 P13-13 P13-14 CA13-1 CA13-2 CA13-3 CA13-4 CA13-5 CA13-6 CA13-7 CA13-8 Description Balance sheet classification of various liabilities. Accounts and notes payable. Re-financing of initial debt. Refinancing of initial debt. Paid out absences. Paid for absences. Changing entry for sales tax. Payroll tax entries. Payroll taxes entries. Guarantees. Warranties. High quality entries. Contingencies. Asset retirement living obligation. Payments. Financial affirmation impact of liability deals. Ratio calculations and discussion. Ratio computations and evaluation. Ratio computations and effect of transactions. Current liability entries and adjustments. Liability entries and adjustments. Payroll taxes entries. Payroll tax items. Warranties, accrual, and cash basis. Extended warranties. Warranties, accrual, and cash basis. Premium records. Premium entries and monetary statement display. Loss contingencies: entries and essay. Loss contingencies: articles and documents. Warranties and premiums. The liability errors. Warranty and coupon computation. Mother nature of debts. Current versus non-current classification. Refinancing of short-term personal debt. Refinancing of short-term personal debt. Loss contingencies. Loss a contingency. Warranties and loss eventualities. Warranties. Standard of Difficulty Simple Moderate Straightforward Simple Modest Moderate Basic Simple Straightforward Simple Moderate Simple Moderate Moderate Moderate Moderate Simple Simple Moderate Simple Basic Moderate Simple Simple Straightforward Moderate Modest Moderate Straightforward Moderate Moderate Moderate Moderate Moderate Modest Moderate Moderate Simple Straightforward Simple Moderate Time (minutes) 10–15 15–20 10–12 20–25 25–30 25–30 5–7 10–15 15–20 10–15 15–20 15–20...



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