Accounting 291 Essay

PART 11

Current Liabilities

PROJECT CLASSIFICATION DESK

| | |Brief Exercises | |Problems |Problems | |Study Goals |Questions | |Exercises |Set A |Set B | |Explain an up-to-date liability and distinguish between the major types of|1 |1, two |8 |1 |1 | |current debts. | | | | | | |Explain the accounting, and prepare the journal records, for |2, 3, 4, 5, 6th, 7 |3, 4, your five |1, two, 3, 4 |2, several |2, three or more | |definitely determinable financial obligations. | | | | | | |Explain the accounting, and prepare the journal items, for estimated|8, 9, 12 |6, several |5, six |1, 3, 4 |1, 4 | |liabilities. | | | | | | |Describe the accounting and disclosure requirements for contingent |10, 11, 12 |8 |7 |1, five |1, a few | |liabilities and put together the necessary record entries. | | | | | | |Explain and demonstrate the monetary statement presentation of current|13, 14 |9 |8, 9, 10 |1, 2, a few |1, a couple of, 3 | |liabilities. | | | | | | |Discuss the objectives of interior control for payroll, and be able to|*15, *16, *17 |*10 |*11 |*6 |*6 | |identify weaknesses and suggest improvements in their program | | | | | | |(Appendix 11A). | | | | | | |Calculate the payroll to get a pay period (Appendix 11A). |*18, *19 |*11, *12, *13, |*12, *13, *14, |*7, *8, *9 |*7, *8, *9 | | | |*14 |*15 | |

ASSIGNMENT ATTRIBUTES TABLE

|Problem Number | |Difficulty Level |Time | | |Description | |Allotted (min. ) | |1A |Identify debts. |Simple |10-15 | |2A |Journalize and post be aware transactions. Present balance sheet presentation. |Moderate |30-40 | |3A |Prepare current liability articles, adjusting records, and current liabilities section|Simple |25-35 | | |of balance sheet. | | | |4A |Record warranty. |Moderate |15-25 | |5A |Discuss...

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