Complete CH 9 AND 11 FOR FINANCIAL ACCOUNTING COURSE

Plant Assets, Natural Resources, and Intangibles

Current Liabilities and Payroll

Objectives: When you complete this unit, you should be able to:

• Describe current and long-term liabilities and their characteristics.
• Explain how to account for liabilities, including contingent liabilities.
• Prepare entries to account for accounts payable, short-term notes payable, and taxes payable.
• Record depreciation using the various methods.
• Account for asset disposal through discarding or selling an asset.

In-class Activities:

• Current Liabilities
• Reading: Chapters 9,11
• Homework Ch. 9,11