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Thesummary
江津41104339Ofchapter82014-05-06PartA—CurrentliabilitiesTHECONTENTSOpen
AccountsandNotesAccruedLiabilitiesACloserLookattheCurrentandNoncurrentClassificationLiabilitiesfromAdvanceCollections2of24CharacteristicsofLiabilitiesWhatisaCurrentLiabilityWhatisaCurrentLiability?Theabiligationspayablewithinoneyearorwithinthefirm'soperatingcycle.CurrentLiabilitiesCurrentLiabilitiesAccountspayableTaxespayableUnearnedrevenuesCashdividendspayableShort-termnotespayableAccruedexpensesCharacteristicsofLiabilitiesFutureProbablefuturesacrificesofeconomicbenefits.PresentArisefrompresentobligationstootherentities.PastResultfrompasttransactionsorevents.5of242014-05-06Liabilitieshavethreeessentialcharacteristics:OpenAccountsandNotes
obligationstosuppliersofmerchandiseorofservicespurchasedonopenaccount.AccountpayableTradeNotesPayable应付商业票据Short-termNotesPayable短期应付票据Short-termloannotespayable应付短期贷款票据Cashborrowedfromthebankandrecognizedbyapromissorynote.Notepayablewithinoneyear.
Similartoaccountspayable,butrecognizedbyawrittenpromissorynote.Credit
lines
信用额度
Prearrangedagreementswithabankthatallowacompanytoborrowcashwithoutfollowingnormalloanproceduresandpaperwork.Lineofcredit最高贷款限额
themaximumcreditamountthatfirmsorindividualsareallowedtolendwithoutthefinancialguarantee.InterestInterest-bearing
NotesNoninterest-bearingNotesNoteswithoutastatedinterestratecarryanimplicit,oreffectiverate.Thefaceaccountincludestheinterest.11of242014-05-06
OnMay1,AT,incborrows$700,000fromFirst
BancCorpunderanoncommittedshort-termlineofcreditarrangementandissuedasix-month,12%promissorynote.Interestwaspayableatmaturity.
May1:Cash................700,000Notespayable..........700,000November1:Interestexpense.........42,000Notes
payable
..............700,000Cash
....................742,000
May1:Cash..........658,000DiscountonnotePayable.......42,000
Notespayable.........700,000
November1:Interestexpense.........42,000
DiscountonnotePayable...........
42,000Notepayable
..........700,000
Cash
.............700,000CommercialPaper
waywhichsomelargecorporationsabtaintemporaryfinance,itispurchasedbyothercompaniesasashort-terminvestment.由金融公司或某些信用较高的企业开出的无担保短期票据,期限在9个月以下.AAccruedLiabilitiesDefination:Itrepresentexpensesalreadyincurredbutnotyetpaid.AccruedInterestPayableMay1票据签发时:Cash...............................
700,000
Notespayable..........
700,000AccrualofinterestonJune30:Interestexpenses($700,000×12%×2/12)..............
14,000Interest
payable..............................
14,000NotePaymentonNovember1偿付票据时:Interestexpense.................................28,000Interestpayable
..................................14,000Notepayable...................................
700,000
Cash.............................................
742,000
Salaries,Commissions,andBonuses
Compensationexpensessuchassalaries,commissions,andbonusesareliabilitiesatthebalancesheetdateifearnedbutunpaid.C
vacations、sickdaysandotherpaidfutureabsencesSalariesandwagesexpense---------4,200,000cash---------------------------4,200,00016of242014-05-06Vacationwerebetakenin2011December31,2011Salariesandwagesexpense---------5,400,000
Liability-compensatedfutureabsences--------5,400,000Whenyear2011vacationaretakenin2012
Liability-compensatedfutureabsences--------5,400,000Salariesandwagesexpense--------------300,000
Cash--------------------5,700,000LiabilitiesfromAdvanceCollectionsRefundabledeposits保证金Advancesfromcustomers预收账款Giftcards礼券(卡)Collectionsforthirdparties第三方代收
RefundabledepositsWhendepositsarecollected
cash……………300,000liability-refundabledeposits…300,000
容器归还时Whencontainersarereturnedliability-refundabledeposits…270,000cash…………….270,000
保证金被没收时Whendepositsareforfeitedliability-refundabledeposits…..30,000
revenue-saleofcontainers……30,000costofgoodssold…...15,000
inventoryofcontainers...15,000
AdvancesformcustomersWhenadvanceiscollected收到预付款时
($inmillion)
cash………………20
unearnedsubscriptionrevenue…...20Whenproductisdelivered提供产品时
unearnedsubscriptionrevenue…..5
subscriptionsrevenue……..5ACloserLookattheCurrentand
NoncurrentClassification
Current
maturitiesoflong-termobligationsusuallyarereclassifiedandreportedascurrentliabilitiesift
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