Chapter 13, Problem 13.23E

Disclosures of liabilities

Indicate (by letter) the way each of the items listed below should be reported in a balance sheet at December 31, 2018.

Item

Reporting Method

_______ 1. Commercial paper _______ 2. Noncommitted line of credit _______ 3. Customer advances _______ 4. Estimated quality-assurance warranty cost _______ 5. Accounts payable _______ 6. Long-term bonds that will be callable by the creditor in the upcoming year unless an existing violation is not corrected (there is a reasonable possibility the violation will be corrected within the grace period) _______ 7. Note due March 3. 2019 _______ 8. Interest accrued on note. December 31. 2018 _______ 9. Short-term bank loan to be paid with proceeds of sale of common stock _______ 10. A determinable gain that is contingent on a future event that appears extremely likely to occur in three months _______ 11. Unasserted assessment of back taxes that probably will he asserted, in which case there would probably be a loss in six months _______ 12. Unasserted assessment of back taxes with a reasonable possibility of being asserted, in which case there would probably be a loss in 13 months _______ 13. A determinable loss from a past event that is contingent on a future event that appears extremely likely to occur in three months _______ 14. Note payable due April 4. 2021 _______ 15. Long-term bonds callable by the creditor in the upcoming year that are not expected to be called

N. Not repotted C. Current liability L. Long-term liability D. Disclosure note only A. Asset