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QUESTION 2 - Indicate with yes or no whether or not each of the following items should appear as a liability on a company's December
QUESTION 2 - Indicate with "yes" or "no" whether or not each of the following items should appear as a liability on a company's December 31, 2019 balance sheet i. The expectation of replacing worn out equipment in Year 2020 ii. An agreement to purchase inventory in Year 2020 iii. An agreement to publish and deliver magazines in Year 2020 for cash already received iv. Expected payment of regular dividends in Year 2020 (not yet declared) v. The obligation to pay interest in Year 2020 on bonds that were issued on December 31, Year 2019 vi. The obligation to repay a loan from borrowing during Year 2019 and due in Year 2021 vii. Unpaid income taxes from Year 2019 viii. The obligation to pay workers for services rendered during the last few days of Year 7 ix. The burden of having a senile president x. The obligations of the president to pay for her son's traffic fines
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