482 Chapter 10 Liabilities Appears in each compen 203310-10 CASE 10.1 he Nature of Liabilities Critical Thinking Cases Listed are sever publicly owned corporations and a liability that regularly appears in tion's balance sheet. a. Wells Fargo Company (banking): Deposits--interest bearing b. The New York Times Company (newspaper publisher): Unexpired subscription c. The Hollywood Park Companies (horse racing): Outstanding mutuel tickets d. American Greetings (greeting cards and gift wrap products manufacturer): Sales retur e. Wausau Paper Mills Company (paper manufacturer): Current maturities of long-term det f. Club Med., Inc. (resorts): Amounts received for future vacations g. Apple Computer, Inc. (computer manufacturer): Accrued marketing and distribution h. General Motors Corporation (automobile manufacturer): obligation for postretirone benefits Instructions Briefly explain what you believe to be the nature of each of these liabilities, inci liability arose and the manner in which it is likely to be discharged. ties, including how 0-5. L010-6, L010-7 In the past, Abbott Labs had two hand ieena antenning the the following character Briefly explain what you believe to be nature of each of these liabilities. How do the liabilities affect the financial statements of the organization? 482 Chapter 10 Liabilities Appears in each compen 203310-10 CASE 10.1 he Nature of Liabilities Critical Thinking Cases Listed are sever publicly owned corporations and a liability that regularly appears in tion's balance sheet. a. Wells Fargo Company (banking): Deposits--interest bearing b. The New York Times Company (newspaper publisher): Unexpired subscription c. The Hollywood Park Companies (horse racing): Outstanding mutuel tickets d. American Greetings (greeting cards and gift wrap products manufacturer): Sales retur e. Wausau Paper Mills Company (paper manufacturer): Current maturities of long-term det f. Club Med., Inc. (resorts): Amounts received for future vacations g. Apple Computer, Inc. (computer manufacturer): Accrued marketing and distribution h. General Motors Corporation (automobile manufacturer): obligation for postretirone benefits Instructions Briefly explain what you believe to be the nature of each of these liabilities, inci liability arose and the manner in which it is likely to be discharged. ties, including how 0-5. L010-6, L010-7 In the past, Abbott Labs had two hand ieena antenning the the following character Briefly explain what you believe to be nature of each of these liabilities. How do the liabilities affect the financial statements of the organization