Accounting 291

Only available on StudyMode
  • Download(s) : 51
  • Published : July 17, 2013
Open Document
Text Preview
CHAPTER 11

Current Liabilities

ASSIGNMENT CLASSIFICATION TABLE

| | |Brief Exercises | |Problems |Problems | |Study Objectives |Questions | |Exercises |Set A |Set B | |Explain a current liability and distinguish between the major types of|1 |1, 2 |8 |1 |1 | |current liabilities. | | | | | | |Explain the accounting, and prepare the journal entries, for |2, 3, 4, 5, 6, 7 |3, 4, 5 |1, 2, 3, 4 |2, 3 |2, 3 | |definitely determinable liabilities. | | | | | | |Explain the accounting, and prepare the journal entries, for estimated|8, 9, 10 |6, 7 |5, 6 |1, 3, 4 |1, 4 | |liabilities. | | | | | | |Describe the accounting and disclosure requirements for contingent |10, 11, 12 |8 |7 |1, 5 |1, 5 | |liabilities and prepare the necessary journal entries. | | | | | | |Explain and illustrate the financial statement presentation of current|13, 14 |9 |8, 9, 10 |1, 2, 3 |1, 2, 3 | |liabilities. | | | | | | |Discuss the objectives of internal control for payroll, and be able to|*15, *16, *17 |*10 |*11 |*6 |*6 | |identify weaknesses and suggest improvements in their application | | | | | | |(Appendix 11A). | | | | | | |Calculate the payroll for a pay period (Appendix 11A). |*18, *19 |*11, *12, *13, |*12, *13, *14, |*7, *8, *9 |*7, *8, *9 | | | |*14 |*15 | | |

ASSIGNMENT CHARACTERISTICS TABLE

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