Week Six Lecture Notes

Week Six Lecture Notes - deductions are also explained....

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INSTRUCTOR NOTES: Welcome to Week Six! This week, we are discussing chapters 11 and 12.  A couple of things to note: Chapter 11 defines a current liability as a debt that is expected to be repaid  within a year.  This chapter also covers accounting for contingent liabilities,  which are either recorded if probable and able to estimate, or disclosed in  the notes to the financial statements if not estimable.  Payroll and related 
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Unformatted text preview: deductions are also explained. Illustration 11-9 is a great visual of payroll deductions. Chapter 12 covers partnership accounting and the various forms of partnership organizations. Illustration 12-1 details the major advantages and disadvantages of each type. Please complete the discussion questions and the homework problems for this week. Almost there! Next week, we discuss corporations!...
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Week Six Lecture Notes - deductions are also explained....

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