Matching
Classify each of the following items
Premises:
Accrued wages payable.
Payroll taxes payable.
Lawsuit against the company.
Warranty on products sold this year.
Accounts payable.
Vacation benefits.
Property taxes payable.
Income taxes payable.
Unearned revenues.
Debt guarantees.
Responses:
Contingent liability
Estimated liability
Current liability
Correct Answer:
Premises:
Responses:
Accrued wages payable.
Payroll taxes payable.
Lawsuit against the company.
Warranty on products sold this year.
Accounts payable.
Vacation benefits.
Property taxes payable.
Income taxes payable.
Unearned revenues.
Debt guarantees.
Premises:
Accrued wages payable.
Payroll taxes payable.
Lawsuit against the company.
Warranty on products sold this year.
Accounts payable.
Vacation benefits.
Property taxes payable.
Income taxes payable.
Unearned revenues.
Debt guarantees.
Responses:
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