Chapter 13 Current Liabilities and Contingencies

Topics: Liability, Balance sheet, Generally Accepted Accounting Principles Pages: 79 (19253 words) Published: April 7, 2011
CHAPTER 13
Current Liabilities and Contingencies
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics 1. Concept of liabilities; definition and classification of current liabilities. 2. Accounts and notes payable; dividends payable. 3. Short-term obligations expected to be refinanced. 4. Deposits and advance payments. 5. Compensated absences. 6. Collections for third parties. 7. Contingent liabilities (General). 8. Guaranties and warranties. 9. Premiums and awards offered to customers. Questions 1, 2, 3, 4, 6, 8 7, 11 9, 10 12, 5 13, 14, 15 16 17, 18, 19, 20, 22 21, 23 24, 25 1, 2, 3 4 5 8, 9 6, 7 10, 11 13, 14 15 12 5, 6, 16 7, 8, 9, 16 13, 16 10, 11, 16 12, 15, 16 14 3, 4 10, 11, 13 5, 6, 7, 12, 14 8, 9, 12, 14 2, 10, 11, 13 9 6, 7 5, 6, 7 7, 8 Brief Exercises Exercises 1, 16 Problems 1, 2 Concepts for Analysis 1

2, 16 3, 4

1, 2

1, 2 3, 4 2

26, 27, 28 10. Self-insurance, litigation, claims, and assessments, asset retirement obligations. 11. Presentation and analysis. 29, 30, 31

17, 18, 19

3

Copyright © 2010 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 13/e, Solutions Manual

(For Instructor Use Only)

13-1

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning Objectives 1. 2. 3. 4. 5. Describe the nature, type, and valuation of current liabilities. Explain the classification issues of short-term debt expected to be refinanced. Identify types of employee-related liabilities. Identify the criteria used to account for and disclose gain and loss contingencies. Explain the accounting for different types of loss contingencies. Indicate how to present and analyze liabilities and contingencies. Brief Exercises 1, 2, 3, 4, 5, 6 4 7, 8, 9 10, 11, 12, 13, 14, 15 10, 11, 12, 13, 14, 15 Exercises 1, 2, 7 3, 4 5, 6, 8, 9 13 10, 11, 12, 13, 14, 15 16, 17, 18, 19 3, 4 7, 10, 11, 13 2, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 9 Problems 1, 2

6.

13-2

Copyright © 2010 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 13/e, Solutions Manual

(For Instructor Use Only)

ASSIGNMENT CHARACTERISTICS TABLE
Item E13-1 E13-2 E13-3 E13-4 E13-5 E13-6 E13-7 E13-8 E13-9 E13-10 E13-11 E13-12 E13-13 E13-14 E13-15 E13-16 E13-17 E13-18 E13-19 P13-1 P13-2 P13-3 P13-4 P13-5 P13-6 P13-7 P13-8 P13-9 P13-10 P13-11 P13-12 P13-13 P13-14 CA13-1 CA13-2 CA13-3 CA13-4 CA13-5 CA13-6 CA13-7 CA13-8 Description Balance sheet classification of various liabilities. Accounts and notes payable. Refinancing of short-term debt. Refinancing of short-term debt. Compensated absences. Compensated absences. Adjusting entry for sales tax. Payroll tax entries. Payroll tax entries. Warranties. Warranties. Premium entries. Contingencies. Asset retirement obligation. Premiums. Financial statement impact of liability transactions. Ratio computations and discussion. Ratio computations and analysis. Ratio computations and effect of transactions. Current liability entries and adjustments. Liability entries and adjustments. Payroll tax entries. Payroll tax entries. Warranties, accrual, and cash basis. Extended warranties. Warranties, accrual, and cash basis. Premium entries. Premium entries and financial statement presentation. Loss contingencies: entries and essay. Loss contingencies: entries and essays. Warranties and premiums. Liability errors. Warranty and coupon computation. Nature of liabilities. Current versus noncurrent classification. Refinancing of short-term debt. Refinancing of short-term debt. Loss contingencies. Loss contingency. Warranties and loss contingencies. Warranties. Level of Difficulty Simple Moderate Simple Simple Moderate Moderate Simple Simple Simple Simple Moderate Simple Moderate Moderate Moderate Moderate Simple Simple Moderate Simple Simple Moderate Simple Simple Simple Moderate Moderate Moderate Simple Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Simple Simple Simple Moderate Time (minutes) 10–15 15–20 10–12 20–25 25–30 25–30 5–7 10–15 15–20 10–15 15–20 15–20...
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