Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 42

The Nature of Liabilities
Listed below are seven publicly owned corporations and a liability that regularly appears in each corporation's balance sheet:
a. Wells Fargo Company (banking): Deposits: interest bearing
b. The New York Times Company (news paper publisher): Unexpired subscriptions
c. The Hollywood Park Companies (horse racing): Outstanding mutuel tickets
d. American Greetings (greeting cards and gift wrap products manufacturer): Sales returns
e. Wausau Paper Mills Company (paper manufacturer): Current maturities of long-term debt
f. Club Med., Inc. (resorts): Amounts received for future vacations
g. Apple Computer, Inc. (computer manufacturer): Accrued marketing and distribution
h. General Motors Corporation (automobile manufacturer): obligation for postretirement benefits
Instructions
Briefly explain what you believe to be the nature of each of these liabilities, including how the liability arose and the manner in which it is likely to be discharged.