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How would each of the following items be reported on balance sheet?

a. Accrued vacation pay. select a balance sheet section.
b. Estimated taxes payable. select a balance sheet section.
c. Service warranties on appliance sales. select a balance sheet section.
d. Bank overdraft. select a balance sheet section.
e. Employee payroll deductions unremitted. select a balance sheet section.
f. Unpaid bonus to officers. select a balance sheet section.
g. Deposit received from customer to guarantee performance of a contract. select a balance sheet section
h. Sales taxes payable. select a balance sheet section
i. Gift certificates sold to customers but not yet redeemed. select a balance sheet section
j. Premium offers outstanding. select a balance sheet section
k. Discount on notes payable. select a balance sheet section
l. Personal injury claim pending (assume not probable and/or not reasonably estimable). select a balance sheet section
m. Current maturities of long-term debts to be paid from current assets. select a balance sheet section
n. Cash dividends declared but unpaid. select a balance sheet section
o. Dividends in arrears on preferred stock. select a balance sheet section
p. Loans from officers.

Respuesta :

Answer:

a. Accrued vacation pay. Current Assets - Receivables

b. Estimated taxes payable. Current Liabilities - Payables

c. Service warranties on appliance sales. Current Liabilities - Payables

d. Bank overdraft. Current liabilities

e. Employee payroll deductions unremitted. Current liabilities - Payables

f. Unpaid bonus to officers. Current liabilities - Payables

g. Deposit received from customer to guarantee performance of a contract. Current assets- Cash and cash equivalents

h. Sales taxes payable. Current liabilities - Payables

i. Gift certificates sold to customers but not yet redeemed. Current liabilities - Payables

j. Premium offers outstanding. Current assets - receivables

k. Discount on notes payable. Current assets - receivables

l. Personal injury claim pending (assume not probable and/or not reasonably estimable – Not on Balance sheet.

m. Current maturities of long-term debts to be paid from current assets. Current Assets, Current Liabilities and Non-current liabilities

n. Cash dividends declared but unpaid. Current liabilities - Payables

o. Dividends in arrears on preferred stock. Current liabilities - Payables

p. Loans from officers. Current liabilities - Payables

Answer:

a. Accrued vacation pay.Current Assets,

b. Estimated taxes payable. Current  liabilities

c. Service warranties on appliance sales. Current Liability.

d. Bank overdraft. Current Liability.

e. Employee payroll deductions unremitted. current liabilities.

f. Unpaid bonus to officers. Current liabilities.

g. Deposit received from customer to guarantee performance of a contract. Current Assets

h. Sales taxes payable. Current liabilities

i. Gift certificates sold to customers but not yet redeemed. Current liability

j. Premium offers outstanding. Current assets

k. Discount on notes payable. Current assets

l. Personal injury claim pending (assume not probable and/or not reasonably estimable). Not in balance sheet (expense)

m. Current maturities of long-term debts to be paid from current assets. select a balance sheet section  Current Assets and non current Liability

n. Cash dividends declared but unpaid. Current liability

o. Dividends in arrears on preferred stock. Current liability

p. Loans from officers.  Current assets

Answer:

 

Explanation:

 

Explanation:

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