Write CL if the item is normally reported as a current liabilities, NCL if non-current. If not a liability, write NA. 1. Accounts payable 2. Bank Overdraft 3. Share dividends payable 4. Trade notes payable 5. Deferred tax liabilities 6. Deferred revenue 7. Cumulative Redeemable Preference Shares 8. Provision for warranties 9. Salaries Payable 10. Bonds Payable

Write CL if the item is normally reported as a current liabilities, NCL if non-current. If not a liability, write NA. 1. Accounts payable 2. Bank Overdraft 3. Share dividends payable 4. Trade notes payable 5. Deferred tax liabilities 6. Deferred revenue 7. Cumulative Redeemable Preference Shares 8. Provision for warranties 9. Salaries Payable 10. Bonds Payable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Write CL if the item is normally reported as a current liabilities, NCL if non-current. If not a liability, write NA.

1. Accounts payable

2. Bank Overdraft

3. Share dividends payable

4. Trade notes payable

5. Deferred tax liabilities

6. Deferred revenue

7. Cumulative Redeemable Preference Shares

8. Provision for warranties

9. Salaries Payable

10. Bonds Payable

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.

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