Classify the liability classification of the items below if current liability, non-current liability or current or non-current liabilities

1. Current maturities of long-term debts to be paid from current assets
2. Cash received for services to be rendered during the period.
3. Bonds Payable
4. Cash dividends payable
5. Service warranties on appliance sales
6. Gift certificates sold to customers but not yet redeemed
7. Sales Tax Payable
8. 5-year Notes Payable
9. Bonds redeemable next accounting period
10. Employees payroll deductions unremitted

9.What does the current ratio inform you about a company?

A. The company's profitability

B. The company's solvency

C. The current asset available in the current operation

D. The company's liquidity

2.Examples of current liabilities include all of the following except

A. Unpaid dividends

B. Unearned income

C. Sales tax payable

D. Long-term mortgage

14.Notes Payable - Interest bearing note. On January 1, 2020, Barney Corporation acquired a tract of land for 10,000,000. Barney Corporation paid 2,000,000 and signed a 3-year promissory note for the balance plus 10% interest compounded annually. The note matures on January 1, 2023.Determine the total amount to be paid on the maturity date of the note or maturity value of the note.

16.In August, 2020, a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Lester Co. for 800,000. Counsel believes it is possible but not probable that the outcome of the suit will be unfavorable and that the settlement would cost the company from 250,000 to 500,000.How much should be accrued or considered as liability in the Statement of Financial Position?

17.On January 1, Dion Inc. issued 5,000,000, 9% bonds for 4,695,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Dion uses the effective-interest method of amortizing bond discount.

How much is the interest expense for year?

18.Unearned Income. Star Pro Magazine sold 10,000 annual subscriptions on October 1, 2020, for 200 each.How much is the current liability as of December 31, 2020? Round off to the nearest peso.