Write CL if the item is normally reported as a current liabilities, NCL if non-current. If not a liability, write NA. 1. Accounts payable 2. Bank Overdraft 3. Share dividends payable 4. Trade notes payable 5. Deferred tax liabilities 6. Deferred revenue 7. Cumulative Redeemable Preference Shares 8. Provision for warranties 9. Salaries Payable 10. Bonds Payable

Write CL if the item is normally reported as a current liabilities, NCL if non-current. If not a liability, write NA. 1. Accounts payable 2. Bank Overdraft 3. Share dividends payable 4. Trade notes payable 5. Deferred tax liabilities 6. Deferred revenue 7. Cumulative Redeemable Preference Shares 8. Provision for warranties 9. Salaries Payable 10. Bonds Payable

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 13MC: Which of the following would be included in the financing section? A. loss on sale of investments B....

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Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. 1. 2. Payable with current assets. 3. List A Face amount x Interest rate x Time. 4. a. b. Short-term debt to be refinanced with common stock. c. Present value of interest plus present value of principal. 5. Noninterest-bearing. 6. Noncommitted line of credit. 7. Pledged accounts receivable. 8. Reclassification of debt. 9. Purchased by other corporations. 10. Expenses not yet paid. 11. Liability until refunded. 12. Liability until satisfy performance obligation d. e. f. g. |h. I. J. k. 1. List B Informal agreement Secured loan Refinancing prior to the issuance of the financial statements Accounts payable Accrued liabilities Commercial paper Current liabilities Long-term liability Usual valuation of liabilities Interest on debt Customer advances Customer deposits
Which of the following is a long term financial instrument? a. Certificate of deposit. b. Commercial Papers. O c. Treasury Bills. d. Bonds and stocks.
2. Which of the following is an appropriate aggregation? A. Cash and cash equivalents (Cash in bank and sinking fund) B. Trade and other receivables (Accounts receivable and investment in bonds) C. Trade and other payables (Accounts payable and accruals) D. Provisions (Income tax payable and warranty liability)
Which item below is not a current liability? Select one: O O a. Unearned revenue b. Trade accounts payable c. cash dividends d. The currently maturing portion of long-term debt
What Statements Do The Following Belong To and Do They Appear On One Or More1) Fund To Retire Bonds2) Retained Earnings3) Trucks4) Cash5) Prepaid Insurance6) Investment in XYZ7) Additional Paid-Capital8) Copyrights9) Machinery10) Merchandise Inventory
Which one of the following is referred as debt finance? a. Purchase of T-Bills. O b. Sale of bonds. O c. Issue of equity shares С. d. Issue of Preference shares
Which of the following liabilities should always be included in the debt calculations for a firm? a. accounts payableb. commercial paperc. deferred revenued. deferred tax liabilities
Which of the following would be included in the financing section? A. loss on sale of investments B. depreciation expense C. increase in notes receivable D. decrease in notes payable
Current Liabilitites: Trade Accounts Payable, Short-term Notes Payable, Salaries Payable, Unearned Revenue. Non-Current Liabilities: Long-term Notes Payable, Long-term Loans Payable, Mortgage Payable.
Classifying Liability-Related Accounts into Balance Sheet or Income StatementIndicate the proper financial statement classification (balance sheet or income statement) for each of the following liability-related accounts. Account Financial Statement a. Gain on Bond Retirement b. Discount on Bonds Payable c. Mortgage Notes Payable d. Bonds Payable e. Bond Interest Expense f. Bond Interest Payable (due next period) g. Premium on Bonds Payable h. Loss on Bond Retirement
1. When a company purchases another company's bonds as an investment, an account called investments- XXXX is used. What type of an account and normal balance does this investment account have? a. Asset with a debit balance b. Asset with a credit balance c. liability with a debit balance d. liability with a credit balance 2. What does the word accrued mean when talking about accrued interest? a. The interest has not been earned, but it has been received b. The interest has been earned, but it has not been received c. The interest has not been earned nor received d. The interest is being deferred
Merchandise sold by Lang Company to its customers last year amounted to $13,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were a. b. C. d. Select one: a. $13,350,000. b. $13,720,000. C. $13,175,000. d. $13,035,000.