Acc 422 Week 4 Complete Uop Exam Assignment

ACC 422 Week 4 Complete

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DQ1.What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or long-term?

DQ2.What is a contingency? Why are contingencies important to users of financial statements? What are the criteria for recording contingencies? Should companies record a liability for threatened litigation? Explain why or why not.

DQ3.What is a bond? What are some features of a bond? How do you value bonds? What factors can affect that value?

Individual Assignment - WileyPLUS

Resource: WileyPLUS

Complete the following in WileyPLUS:

• Exercise E11-4 (20 Points)

• Problem P11-6 (30 Points)

• Exercise E12-16 (20 Points)

• Problem P12-1 (30 Points)

Learning Team Assignment - Weekly Reflection

Discuss the objectives for Week Three and answer the following questions:

• In terms of the balance sheet and the income statement, what is the effect of using different depreciation methods?

• Why is the reporting of intangible assets often challenging for accountants?

Write a 350- to 500-word summary of your Learning Team’s discussion.

Individual Assignment - Weekly Summary

Post Weekly Summary in the Main Forum

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