Chapter 9, Problem 1FA

1.

To determine

Determine the current liabilities as on December 31^st 2016 and 2015. Identify that there is any changes in the current liabilities. Explain the causes.

2.

To determine

List the components of the accrued liabilities that are made up of. Explain the reason for including the accrued liabilities in the current liabilities. Identify the liability which covers the biggest portion of the accrued liabilities.

3.

To determine

Determine the long term liabilities as on December 31^st 2016 and 2015. Identify that there is any changes in the current liabilities or not. Explain the causes for that change (if any).

4.

To determine

Compare the totals of the current liabilities and long term liabilities as on December 31^st, 2016. Identify that the current liabilities are more than or less than the total long term liabilities and its meaning. Compare the shareholders equity with the total liabilities balance as on December 31^st, 2016 and its meaning.

5.

To determine

Determine the deferred income tax. Explain the reasons for the income taxes payable to appear both in the current and long-term liabilities sections.