会计学原理nobles acctg流动负债工资第11章学习目标.pdfVIP

Learning Objectives 1. Account for current liabilities of known amount 2. Calculate and journalize basic payroll transactions 3. Account for current liabilities that must be estimated © 2015 Pearson Education, Limited. 11-2 Learning Objectives 4. Account for contingent liabilities 5. Use the times-interest- earned ratio to evaluate business performance © 2015 Pearson Education, Limited. 11-3 Learning Objective 1 Account for current liabilities of known amount © 2015 Pearson Education, Limited. 11-4 Liabilities • Best described as: – Debts and obligations owed to others. • Three primary characteristics: – They occur as a result of a past transaction or event. – They create a present obligation for future payments. – They are an unavoidable obligation. © 2015 Pearson Education, Limited. 11-5 Two Major Categories Current Long-Term Liabilities Liabilities Will be paid from current Due after one year assets within one year or or the ’s the ’s operating operating cycle, cycle, whichever is whichever is longer. longer. © 2015 Pearson Education, Limited. 11-6 Current Liabilities © 2015 Pearson Education, Limited. 11-7 On August 10, Swanson recorded $4,000 sales of merchandise inventory on account. The sales were subject to 4% sales tax. Ignore