Please I need help whit this cuestions.

11.1Lori Randle believes a current liability is a debt that can be expected to be paid in one year. Is Lori correct? Explain. 11.2 Petrocelli Company obtains $40,000 in cash by signing a 7%, 6-month, $40,000 note payable to First Bank on July 1. Petrocelli's fiscal year ends on September 30. What information should be reported for the note payable in the annual financial statements? 11.3 Your roommate says, "Sales taxes are reported as an expense in the income statement." Do you agree? Explain. (b) Jensen Company has cash proceeds from sales of $8,400. This amount includes $400 of sales taxes. Give the entry to record the proceeds. 11.4 Ottawa University sold 15,000 season football tickets at $80 each for its six-game home schedule. What entries should be made (a) when the tickets were sold, and (b) after each game? 11.5 What is liquidity? What are two measures of liquidity? 11.6 What is a contingent liability? Give an example of a contingent liability that is usually recorded in the accounts. 11.7 Under what circumstances is a contingent liability disclosed only in the notes to the financial 11.7 Under what circumstances is a contingent liability disclosed only in the notes to the financial statements? Under what circumstances is a contingent liability not recorded in the accounts nor disclosed in the notes to the financial statements? 11.8 What is the difference between gross pay and net pay? Which amount should a company record as wages and salaries expense? 11.9 Which payroll tax is levied on both employers and employees? 11.10 1 Are the federal and state income taxes withheld from employee paychecks a payroll tax expense for the employer? Explain your answer. 11.11 What do the following acronyms stand for: FICA, FUTA, and SUTA