会计学原理培训资料(英文版).pptxVIP

CURRENTLIABILITIESAND

PAYROLLACCOUNTINGChapter11

PastPresentFutureDEFININGLIABILITIESBecauseofa

pastevent...The

company

hasa

present

obligation...Forfuture

sacrificesC1

Expectedtobepaidwithinoneyearorthecompany’soperatingcycle,whicheverislonger.CLASSIFYINGLIABILITIESCurrentLiabilitiesExpectednottobepaidwithinoneyearorthecompany’soperatingcycle,whicheverislonger.Long-TermLiabilitiesC1

CURRENTANDLONG-TERMLIABILITIESPercentofTotalLiabilitiesCurrentLiabilitiesasaPercentofTotalLiabilitiesC1

UNCERTAINTYINLIABILITIESUncertaintyinWhomtoPayUncertaintyinWhentoPayUncertaintyinHowMuchtoPayC1

AccountsPayableSalesTaxesPayableUnearnedRevenuesShort-TermNotesPayableKNOWN(DETERMINABLE)LIABILITIESPayrollLiabilitiesMulti-PeriodKnownLiabilitiesC2

OnMay15,2009,MaxHardwaresoldtoolsandsuppliesfor$7,500thataresubjecttoa6%salestax.SALESTAXESPAYABLE$7,500×6%=$450C2

OnMay1,2009,A-1Cateringreceived$3,000inadvanceforcateringaweddingpartytotakeplaceonJuly12,2009.UNEARNEDREVENUESC2

Awrittenpromisetopayaspecifiedamountonadefinitefuturedatewithinoneyearorthecompany’soperatingcycle,whicheverislonger.SHORT-TERMNOTESPAYABLEP1

OnAugust1,2009,Matrix,Inc.askedCarter,Co.toaccepta90-day,12%notetoreplaceitsexisting$5,000accountpayabletoCarter.Matrixwouldmakethefollowingentry:NOTEGIVENTOEXTEND

CREDITPERIODP1

OnOctober30,2009,Matrix,Inc.paysthenoteplusinteresttoCarter.Interestexpense=$5,000×12%×(90÷360)=$150NOTEGIVENTOEXTEND

CREDITPERIODP1

PROMISSORYNOTEFaceValue DateafterdatepromisetopaytotheorderofAmericanBankNashville,TNDollarsplusinterestattheannualrateof.$20,000Sept.1,2009NinetydaysITwentyth