上海海事 外国会计选读 chapter11课件.pptVIP

The Nature of Current Liabilities Presentation on the balance sheet Divide into current liabilities and ling-term liabilities Current portion of the long-term obligations as a part of the current liabilities Short-Term Notes Payable Mdse. Inventory 10,000 Accounts Payable 10,000 Long-term liabilities are often paid back in periodic payments, called installments. Long-term liability installments that are due within the coming year must be classified as a current liability. The total amount of the installments due after the coming year is classified as a long-term liability. Fiscal year ending 2003 $ 710,000 2004 722,000 2005 735,000 2006 748,000 2007 762,000 Thereafter 2,109,000 Total principal payments $5,786,000 Product Liability …eBay was served with a lawsuit…filed on behalf of a purported class of eBay users who purchased allegedly forged autographed sports memorabilia on eBay. The lawsuit claims eBay was negligent in permitting certain named (and other unnamed) defendants to sell allegedly forged autographed sports memorabilia on eBay. Management believes that the ultimate resolution of these disputes will not have a material adverse impact on eBay’s consolidated financial positions, results of operations, or cash flows. ---- eBay Inc. Accounting Treatment of Contingent Liabilities Payroll Gross Pay Calculation FICA Tax Calculation Earnings subject to 6% social security tax ($100,000 – $99,038) $962 Social security tax rate x 6% Social security tax $57.72 Withholding Taxes, Other Deductions Employers are required to withhold federal income tax from each employee based on the withholding table and information provided by the employee’s W-4 form. Federal income tax and FICA tax must be withheld from the pay of each employee. Deductions for other purposes may