explain learning objective ; first point for any relevant accounting entries, ratios, or short relative Monopoly Deal ; second point for further relevant explanation or analysis in document; third point for summarizing news relevant to both contents of learning objective and of cards (or of video);

2 Chapter 11 Learning Objectives 3 C1 Describe current and long-term liabilities and their characteristics C2 Identify and describe known current liabilities 5 C3 Explain how to account for contingent liabilities SA1 Compute the times interest earned ratio and use it to analyze liabilities P1 Prepare entries to account for short-term notes payable 3 P2 Compute and record employee payroll deductions and liabilities OP3 Compute and record employer payroll expenses and liabilities O P4 Account for estimated liabilities, including warranties and bonuses