See Case 9-1 on page 50 of chapter 9. As required, "discuss the assumptions needed for Warder to correctly exclude the previously mentioned items from the December 31, 2016, current liabilities." Do this for 1, 2 and 4. Skip 3.

***For item one the dates should be for 2017 not 2016. Only in item 1.

COMMUNICATION Short-Term Debt Expected to Be Refinanced While examining the 2016 financial statements of Warder Corporation, you found evidence that the following were not included in its current liabil- C9-1 LO 9.3 warranty ble amou period car Situation Subseque ments, b statement will prob company ably estim ities on the December 31, 2016, balance sheet: 1. A note payable due and paid by Warder orn February 19, 2016. Warder obtained long- term financing equal to this amount paid on February 26, 2016. 2. Note payable due 2 months after the balance sheet date, with refinancing agreement entered into 4 weeks after the balance sheet Situatio A compa insurance injury to premium from an have an a covered b accidents resulted i date. 3. Notes payable of Warder's completely owned subsidiary due its shareholders and payable upon demand 4. Deposits from customers on equipment or- dered by them from Warder. Required: Discuss the assumptions needed for Warder to