Chapter09 - Chapter 9 Reporting and Interpreting...

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Chapter 9 Reporting and Interpreting Liabilities Acct 2301 Fall 09
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Current Liability Long-term (noncurrent) liability Estimated Liability Ratios on Liquidity Time value of money Present value Future value Compounded interest rate Key Terms
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Probable debts or obligations result from past transaction and will be paid by assets or service Measured and reported at its cash equivalent Interest is accounted separately Liabilities
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Current Liabilities Accounts payable Deferred revenue (unearned revenue) Salary payable Dividend payable Short-term notes payable (1 year or shorter maturity period) Current portion of long-term debt Income taxes payable Payroll taxes payable (employee income taxes, social security taxes)
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Long-term Liabilities Private debt: Bank loans Notes payable (> 1 year) Public debt: corporate bonds Lease (more in intermediate accounting)
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Estimated Liabilities Contingent Liabilities Probable Reasonably possible Remote
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This note was uploaded on 02/10/2012 for the course ACCT 2301 taught by Professor Li during the Fall '09 term at University of Central Florida.

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Chapter09 - Chapter 9 Reporting and Interpreting...

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