Unformatted text preview: were presented for redemption during 2013 as part of merchandise purchases having a total retail price of $750. Required: 1. Determine the liability for gift certificates to be reported in the December 31, 2013, balance sheet. 2. What is the appropriate classification (current or noncurrent) of the liabilities at December 31, 2013? Show calculations. AACSB: Analytic AICPA FN: Measurement Blooms: Apply...
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- Winter '11
- Balance Sheet, noncurrent, gift certificates, Mozart Music Co.