Question: Which is NOT considered a known liability? Answer accounts payable short - term notes payable unearned revenues income tax payable I don't know yet

Which is NOT considered a known liability?
Answer
accounts payable
short-term notes payable
unearned revenues
income tax payable
I don't know yet

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The table below contains the values of accounts for your company. Assumes that all balances are normal and journalize and post closing journal entries as needed. Produce a post-closing classified...

Q:

Low Additionally, incess ABC Cortion's first year of operations the adjusted balance for all cuentaste and liabilities represents the change during the year for Statement of Cash Floss analysis 5....

Q:

UESTION 1 Which of the following would not be reported as a current liability. accounts payable. bonds payable. notes payable. unearned revenues. 1 points QUESTION 2 A current liability is a debt...

Q:

I am need help! I am not understanding how to prepare this general journal entries, adjusting entries, adjusted trial balance, balance sheet, and the closing entries. Please see attachments Name:...

Q:

Need help with this project, not sure that I have everything labeled correctly. And need help making sure journal entries are correct. 2 Unadjusted Trial Balance 3 December 31, 2021 4 5 Debit Credit...

Q:

Can you please help me with these questions? I am on a tight deadline, of just 24 hours. I have attached the question and the answer sheet that is part of it. Please fill in the answers on the answer...

Q:

hi could you help me with these questions? I have to do journal entries and multiple questions. Question 1. Floppy Company's December 31, 2014 trial balance is as follows: Floppy Corporation Trial...

Q:

So, the second image displays what I have so far in terms of the balance sheet. I need assistance completing this balance sheet. If you notice any errors, feel free to let me know as well because I...

Q:

fo) You are the Chief Financial Officer and lead accountant for a small business you helped to start The name of the business is VSU Enterprises Inc The business prepares its financial statements as...

Q:

Please help me construct the cash flow statement using the INDIRECT method. I've provided the adjusted trial balance, income summary, as well as the balance sheet. 000 - Required information Arcadia...

Q:

What other factors might you include in such an analysis? Should projected revenues be included in the analysis?

Q:

The following data were adapted from the financial statements of Kmart Corporations, prior to its filing for bankruptcy: a. Prepare a horizontal analysis for the income statement showing the amount...

Q:

Question 7 When is revenue recognized for accounting purposes? A customer commits to buying a product The shipping department prepares the product for delivery The business manufactures the product...

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...