Chapter 11 Current Liabilities and Payroll Accounting Essay Example
CHAPTER 11
Current Liabilities and Payroll Accounting
ASSIGNMENT CLASSIFICATION TABLE
Brief Exercises 1 A Problems 1A B Problems 1B
Study Objectives 1. Explain a current liability, and identify the major types of current liabilities. 2. Describe the accounting for notes payable. 3. Explain the accounting for other current liabilities. 4. Explain the financial statement presentation and analysis of current liabilities. 5. Describe the accounting and disclosure requirements for contingent liabilities. 6. Compute and record the payroll for a pay period. 7. Describe and record employer payroll taxes. 8 Discuss the objectives of internal control for payroll. Identify additional fringe benefits associated with employee compensation.
Questions 1
Exercises 7
2
2
1, 2, 7
1A, 2A
1B, 2B
3, 4
3, 4
3, 4, 7
1A
1B
5
5
7, 8, 9
1A
1B
6, 7
6
5, 6, 7
1A
1B
8, 9, 10, 12 13, 14, 15 9, 10, 11, 15 16, 17
7, 8
10, 11, 12 13 12, 14
3A, 4A, 5A
3B, 4B, 5B
9
3A, 4A, 5A
3B, 4B, 5B
10
*9.
18, 19, 20, 21, 22
11
15, 16
4A
4B
*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix*to the chapter.
11-1
ASSIGNMENT CHARACTERISTICS TABLE
Problem Number 1A Difficulty Level Moderate Time Allotted (min.) 30–40
Description Prepare current liability entries, adjusting entries, and current liabilities section. Journalize and post note transactions and show balance sheet presentation. Prepare payroll register and payroll entries. Journalize payroll transactions and adjusting entries. Prepare entries for payroll and payroll taxes; prepare W-2 data. Prepare current liability entries, adjusting entries, and current liabilities section. Journalize and post note transactions and show balance sheet presentation. Prepare payroll register and payroll entries. Journalize payroll transactions and adjusting entries. Prepare entries for payroll
Current Liabilities and Payroll Accounting
ASSIGNMENT CLASSIFICATION TABLE
Brief Exercises 1 A Problems 1A B Problems 1B
Study Objectives 1. Explain a current liability, and identify the major types of current liabilities. 2. Describe the accounting for notes payable. 3. Explain the accounting for other current liabilities. 4. Explain the financial statement presentation and analysis of current liabilities. 5. Describe the accounting and disclosure requirements for contingent liabilities. 6. Compute and record the payroll for a pay period. 7. Describe and record employer payroll taxes. 8 Discuss the objectives of internal control for payroll. Identify additional fringe benefits associated with employee compensation.
Questions 1
Exercises 7
2
2
1, 2, 7
1A, 2A
1B, 2B
3, 4
3, 4
3, 4, 7
1A
1B
5
5
7, 8, 9
1A
1B
6, 7
6
5, 6, 7
1A
1B
8, 9, 10, 12 13, 14, 15 9, 10, 11, 15 16, 17
7, 8
10, 11, 12 13 12, 14
3A, 4A, 5A
3B, 4B, 5B
9
3A, 4A, 5A
3B, 4B, 5B
10
*9.
18, 19, 20, 21, 22
11
15, 16
4A
4B
*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix*to the chapter.
11-1
ASSIGNMENT CHARACTERISTICS TABLE
Problem Number 1A Difficulty Level Moderate Time Allotted (min.) 30–40
Description Prepare current liability entries, adjusting entries, and current liabilities section. Journalize and post note transactions and show balance sheet presentation. Prepare payroll register and payroll entries. Journalize payroll transactions and adjusting entries. Prepare entries for payroll and payroll taxes; prepare W-2 data. Prepare current liability entries, adjusting entries, and current liabilities section. Journalize and post note transactions and show balance sheet presentation. Prepare payroll register and payroll entries. Journalize payroll transactions and adjusting entries. Prepare entries for payroll