Liabilit ies and Equit y © 2009 Larry M Walt her, under nonexclusive license t o Christ opher J Skousen & Vent us Publishing ApS All m at erial in t his publicat ion is copyright ed, and t he exclusive propert y of Larry M Walt her or his licensors ( all right s reserved) I SBN 978- 87- 7681- 489- 2 Download free eBooks at bookboon.com Contents Liabilities and Equity Cont ent s Part Current Liabilities and Employer Obligations 1.1 1.2 Current Liabilities The Operating Cycle Illustrations of Typical Current Obligations 7 2.1 Notes Playable A Few Words About Interest Calculations that May Save You Some Money 11 3.1 3.2 3.3 Contingent Liabilities Accounting for Contingent Liabilities Timing of Events Warranty Costs 14 14 15 15 4.1 4.2 4.3 4.4 4.5 4.6 Payroll Gross Earnings Net Earnings The Journal Entry for Payroll Employer Payroll Taxes and Contributions Annual Reports Accurate Payroll Systems 17 17 18 21 22 23 23 5.1 5.2 Other Components of Employee Compensation Pension Plans Other Post Retirement Benefits 24 24 26 www.sylvania.com We not reinvent the wheel we reinvent light Fascinating lighting offers an ininite spectrum of possibilities: Innovative technologies and new markets provide both opportunities and challenges An environment in which your expertise is in high demand Enjoy the supportive working atmosphere within our global group and beneit from international career paths Implement sustainable ideas in close cooperation with other specialists and contribute to inluencing our future Come and join us in reinventing light every day Light is OSRAM Click on the ad to read more Download free eBooks at bookboon.com Contents Liabilities and Equity Part Long-Term Obligations 27 6.1 6.2 6.3 6.4 6.5 6.6 Long-Term Notes How I Compute the Payment on a Note? Future Value Present Value Annuities Returning to the Original Question A Few Final Comments on Future and Present Value 28 29 29 30 31 31 34 Bond Payable 36 8.1 8.2 8.3 Accounting for Bonds Payable Bond Issued at Par Bond Issued at Premium Bond Issued at a Discount 38 41 41 44 9.1 9.2 Affective-Interest Amortization Methods The Premium Illustration The Discount Illustration 46 46 47 10 10.1 10.2 Bonds Issued Between Interest Dates and Bond Retirement Year-end Interest Accruals Bonds may be Retired Before Scheduled Maturity 49 50 50 11 Analysis, Commitments, Alternative Financing Arrangements, Leases, and Fair Value Measurements Contractual Commitments and Alternative Financing Arrangements Capital Leases 52 11.1 11.2 53 53 360° thinking Discover the truth at www.deloitte.ca/careers © Deloitte & Touche LLP and affiliated entities Click on the ad to read more Download free eBooks at bookboon.com ... Download free eBooks at bookboon.com Contents Liabilities and Equity Cont ent s Part Current Liabilities and Employer Obligations 1.1 1.2 Current Liabilities The Operating Cycle Illustrations... technologies and new markets provide both opportunities and challenges An environment in which your expertise is in high demand Enjoy the supportive working atmosphere within our global group and beneit... and contribute to inluencing our future Come and join us in reinventing light every day Light is OSRAM Click on the ad to read more Download free eBooks at bookboon.com Contents Liabilities and