ACCT-316 Study Guide - Midterm Guide: Accounts Payable, Glossary Of Tennis Terms, Issued Shares
21 Oct 2016
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Study guide for midterm: the midterm will cover information in chapters 13, 14, 15 and 16. On the midterm there will be four written questions. In preparation for the midterm, please complete all questions from the wileyplus practice problems for chp. In addition, it is recommended that you complete the wileyplus midterm 1 review assignment (please note, this assignment is ungraded). Be able to correctly define a liability under the most current accounting standards. Have a thorough understanding of how to report common financial liabilities, such as: accounts payable, notes payable interest bearing and non-interest bearing, current maturities of long-term debt, sales tax payable, payroll liabilities & compensated absences. Have a thorough understanding of non-financial liabilities, such as: decommissioning and restoration obligations, unearned revenues, product guarantees and customer loyalty programs. Be able to correctly understand how long-term debt is valued and measured, including: bonds payable, long-term notes.
