ACO01 - Lecture 5 - Completing the Accounting Cycle [Compatibility Mode]

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Unformatted text preview: et’s look at the liability section of a classified balance sheet. Consolidated Balance Sheet December 31, 2001 2002 (in thousands, except share data and per shate dat a LIABILITIES & STOCKHOLDERS" EQUITY Current Liabilities: Accounts payable & accrued expenses $ Accrued employee compensation & benefits Accrued warranty expense Income taxes payable Total current liabilities Long-term liabilities (Note 7) 42,385 $ 8,500 3,975 48,560 12,385 4,200 3,670 68,815 50,000 54,860 60,000 Consolidated Balance Sheet December 31, 2001 2002 (in thousands, except share data and per shate dat a LIABILITIES & STOCKHOLDERS" EQUITY Current Liabilities: Accounts payable & accrued expenses Accrued employee compensation & benefits Accrued warranty expense Income taxes payable Total current liabilities Long-term liabilities (Note 7) $ 42,385 8,500 3,975 54,860 60,000 $ 48,560 12,385 4,200 3,670 68,815 50,000 Current liabilities are obligations that will be paid with current assets, normally within one year. 16 Consolidate d Balance Shee t December 31, 2001 2002 (in thousands, except share data and per shate dat a LIABILITIES & STOCKHOLDERS"...
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This document was uploaded on 02/27/2014.

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