CH 13 EXERCISES Q: How would each of the following items be reported on the balance sheet?
Current liability
Bank overdraft
Current liability
Cash dividends declared but unpaid
Current liability
Current maturities of long-term debts to be paid from current assets
Separate presentation in either current or long-term liability section.
Loans from officers
Footnote disclosure (assume not probable and/or not reasonably estimable).
Personal injury claim pending
Current liability
Premium offers outstanding
Current liability
Sales taxes payable
Current liability or long-term liability depending on term of warranty
Service warranty on appliance sales
Current liability
Unpaid bonus to officers
Current Liability
Accrued vacation pay
Current or noncurrent liability depending upon the time involved
Deposit received from customers to guarantee performance of a contract
Current liabilities or long-term liabilities as a deduction from face valu
Discount on notes payable
Footnote disclosure.
Dividends in arrears on preferred stock
Current liability
Employee payroll deductions unremitted
Current Liability
Estimated taxes payable
Current liability
Gift certification sold to customers but not yet redeemed
