Question

E13-23 Disclosures of liabilities Indicate the way each of the items listed below should 2021 be reported in a balance sheet at December 31. Item 1. Commercial paper. |||||| 2. Noncommitted line of credit. 3. Customer advances. 4. Estimated quality assurance 5. Accounts payable. 6. Long-term bonds that will be Reporting Method N. Not reported c. Current liability L. Long-term liability surance warranty cost. D. Disclosure note only us that will be callable by the creditor in the upcoming A. Asset Tolation is not corrected (there is a reasonable he violation will be corrected within the grace period). | | || year unless an existing violation is not correcte possibility the violation will be co 7. Note due March 3, 2022. 8. Interest accrued on note. Dec. 31, 2021. 9. Short-term bank loan to stock. m bank loan to be paid with proceeds of sale of common 11. Unasserted assessm | A determinable gain that is contingent on a future event that appears extremely likely to occur in three months. asserted assessment of taxes owed on prior-year income that probably will be asserted, in which case there would probably be a loss in s months. Unasserted assessment of taxes owed on prior-year income 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. Note payable due April 4, 2024. 15. Long-term bonds callable by the creditor in the upcoming year that are not expected to be called. II |

Answer 1

Answer-

	ITEMS	REPORTING METHOD
1	Commercial paper	C
2	Non committed line of credit	D
3	Customer advances	C
4	Estimated quality assurance warranty cost	C
5	Accounts payable	C
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)	C
7	Note due March 3,2022	C
8	Interest accrued on Note, Dec.31,2021	C
9	Short-term bank loan to be paid with proceeds of sale of common stock	L
10	A determinable gain that is contingent on a future event that appears extremely likely to occur in three months	D
11	Unasserted assessment of taxes owed on prior year income that probably will be asserted in which case there would probably be a loss in six months	C
12	Unasserted assessment of taxes owed on a prior year income with a reasonable possibility of being asserted, in which case there would probably be a loss in 13 months	N
13	A determinable loss from a past event that is contingent on a future event that appears extremely likely to occur in three months 002E	C
14	Notes payable due April 4, 2024	L
15	Long-term bonds callable by the creditors in the upcoming year that are not expected to be called	C

Kindly give me thumbs up if u like my answer...Thanks!!!