Tech Tool: Spreadsheet Software Valencia Orange Inc. has asked for your assistance in adding XBRL tags to

Question:

Tech Tool: Spreadsheet Software Valencia Orange Inc. has asked for your assistance in adding XBRL tags to its financial statements.

1. Download the data file for this exercise.

2. Use the information in Figure 9.12 to write the XBRL tags for the following selected items on Valencia Orange’s statement of financial position at August 31, 2011.

a. Short-term borrowings $31.5 million

b. Accounts payable $252.5 million

c. Accrued liabilities $612 million

d. Customer deposits current $1,458.5 million

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...