Matching
Classify each of the following items as either:
Premises:
60-day promissory note
Payment of a 4-year term loan due this year
Salaries payable
Debt guarantees
FICA taxes payable
Income taxes payable
Payment of a 30-year term loan due this year
Payment of a 30-year term loan due next year. (The company's operating cycle is 2 months.)
Warranty work completed this year
Accounts payable
Responses:
Current liability
Long-term liability
Not a liability
Correct Answer:
Premises:
Responses:
60-day promissory note
Payment of a 4-year term loan due this year
Salaries payable
Debt guarantees
FICA taxes payable
Income taxes payable
Payment of a 30-year term loan due this year
Payment of a 30-year term loan due next year. (The company's operating cycle is 2 months.)
Warranty work completed this year
Accounts payable
Premises:
60-day promissory note
Payment of a 4-year term loan due this year
Salaries payable
Debt guarantees
FICA taxes payable
Income taxes payable
Payment of a 30-year term loan due this year
Payment of a 30-year term loan due next year. (The company's operating cycle is 2 months.)
Warranty work completed this year
Accounts payable
Responses:
Related Questions
Q200: _ are amounts owed to suppliers for
Q201: Employer payroll taxes are an added employee
Q202: Vacation benefits are a type of
Q203: A _ is a seller's obligation to
Q204: The more _allowances an employee claims,
Q205: To compute the amount of tax withheld
Q206: Companies with many employees often use a
Q207: Match the following definitions with the
Q208: Classify each of the following items as
Q209: Match the following definitions with the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents