会计学原理培训资料(英文版).pptxVIP

CURRENT LIABILITIES ANDPAYROLL ACCOUNTING;Past;Expected to be paid within one year or the company’s operating cycle, whichever is longer.;CURRENT AND LONG-TERM LIABILITIES;UNCERTAINTY IN LIABILITIES;Accounts Payable;On May 15, 2009, Max Hardware sold tools and supplies for $7,500 that are subject to a 6% sales tax.;On May 1, 2009, A-1 Catering received $3,000 in advance for catering a wedding party to take place on July 12, 2009.;A written promise to pay a specified amount on a definite future date within one year or the company’s operating cycle, whichever is longer.;On August 1, 2009, Matrix, Inc. asked Carter, Co. to accept a 90-day, 12% note to replace its existing $5,000 account payable to Carter. Matrix would make the following entry: ;On October 30, 2009, Matrix, Inc. pays the note plus interest to Carter. ;PROMISSORY NOTE Face Value Date after date promise to pay to the order of American Bank Nashville, TN Dollars plus interest at the annual rate of . ;FACE VALUE EQUALS AMOUNT BORROWED;On November 30, 2009, Smith wouldmake the following entry:;Note Date;Dec. 16, 2009;On December 16, 2009, James Burrows would make the following entry:;On February 14, 2010, James Burrowswould make the following entry.; Employers incur expenses andliabilities fromhaving employees.;EMPLOYEE PAYROLL DEDUCTIONS;FICA Taxes — Soc. Sec.;;;The entry to record payroll expenses and deductions for an employee might look like this.;FICA Taxes;2008: 6.2% on the first $7,000 of wages paid to each employee (A credit up to 5.4% is given for SUTA paid, therefore the net rate is 0.8%.) ;The entry to record the employer payroll taxes for January might look like this:;MULTI-PERIOD KNOWN LIABILITIES; An estimated liability is a known obligation of an uncertain amount, but one that can be reasonably estimated.;Employer expe