CH13 - CHAPTER 13 Current Liabilities and Contingencies...

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CHAPTER 13 Current Liabilities and Contingencies ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases 1. Concept of liabilities; definition and classification of current liabilities. 1, 2, 3, 4, 5, 6 1, 16 1, 2 1 2. Accounts and notes payable; dividends payable. 7, 11, 29 1, 2, 3 2, 16 1, 2 1, 2, 3 3. Short-term obligations expected to be refinanced. 9, 10 4 3, 4 4, 5 4. Deposits and advance payments. 12 5 12 2 5. Compensated absences. 13, 14, 15 9 5, 6, 16 6. Collections for third parties. 16 6, 8 7, 8, 9, 16 3, 4 7. Property taxes. 17 7 8. Contingent liabilities (General). 18, 19, 20, 21, 23 11 14, 16 10, 11, 13, 14 7, 8, 9, 10 9. Guaranties and warranties. 22, 24 13, 14 10, 11, 16 5, 6, 7, 12, 14 9, 10 10. Premiums and awards offered to customers. 25, 26 15 13, 15, 16 8, 19, 12 11. Self-insurance, litigation, claims, and assessments. 27, 28 12 10, 11, 13, 14 8, 9, 10 12. Presentation and analysis. 29, 30, 31 17, 18, 19 9 4 *13. Bonus payments. 10, 16 20, 21, 22 15, 16 13-1
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ASSIGNMENT CHARACTERISTICS TABLE 13-2
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It e m Description Level of Diffic ulty Time (minu tes) E 13 -1 Balance sheet classification of various liabilities. Simpl e 10-15 E 13 -2 Accounts and notes payable. Moder ate 15-20 E 13 -3 Refinancing of short-term debt. Simpl e 15-12 E 13 -4 Refinancing of short-term debt. Simpl e 20-25 E 13 -5 Compensated absences. Moder ate 25-30 E 13 -6 Compensated absences. Moder ate 25-30 E 13 -7 Adjusting entry for sales tax. Simpl e 5-7 E 13 -8 Payroll tax entries. Simpl e 10-15 E 13 -9 Payroll tax entries. Simpl e 15-20 E 13 - 10 Warranties. Simpl e 10-15 E 13 - 11 Warranties. Moder ate 15-20 13-3
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E 13 - 12 Liability for returnable containers. Moder ate 15-20 E 13 - 13 Premium entries. Simpl e 15-20 E 13 - 14 Contingencies. Moder ate 20-30 E 13 - 15 Premiums. Moder ate 20-30 E 13 - 16 Financial statement impact of liability transactions. Moder ate 30-35 E 13 - 17 Ratio computations and discussion. Simpl e 10-15 E 13 - 18 Ratio computations and analysis. Simpl e 20-25 E 13 - 19 Ratio computations and effect of transactions. Moder ate 15-25 *E 13 - 20 Bonus computation. Simpl e 10-15 *E 13 - 21 Bonus computation and income statement preparation. Simpl e 15-20 *E 13 - 22 Bonus compensation. Moder ate 15-20 13-4
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P 13 -1 Current liability entries and adjustments. Simpl e 25-30 P 13 -2 Current liability entries and adjustments. Simpl e 25-35 P 13 -3 Payroll tax entries. Moder ate 20-30 P 13 -4 Payroll tax entries. Simpl e 20-25 P 13 -5 Warranties, accrual and cash basis. Simpl e 15-20 P 13 -6 Extended warranties. Simpl e 10-20 P 13 -7 Warranties, accrual and cash basis. Moder ate 25-35 P 13 -8 Premium entries. Moder ate 15-25 P 13 -9 Premium entries and financial statement presentation. Moder ate 30-45 P 13 - 10 Loss contingencies: entries and essay. Simpl e 25-30 P 13 - 11 Loss contingencies: entries and essays. Moder ate 35-45 P 13 - 12 Warranties and premiums. Moder ate 20-30 P 13 - 13 Loss contingencies, warranties, litigation. Moder ate 25-35 P 13 - 14 Advances, self-insurance, loss contingencies. Moder ate 15-25 *P 13 - 15 Bonus computation. Simpl e 25-30 13-5
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*P 13 - 16 Warranty, bonus, and coupon computation. Moder ate 20-25 C 13 -1 Nature of liabilities. Moder ate 20-25 C 13 -2 Current versus noncurrent classification. Moder ate 15-20 C 13 -3 Current versus noncurrent classification. Simpl e 20-25 C 13 -4 Refinancing of short-term debt.
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