There are many different kinds of liabilities. The first column of the spreadsheet below lists several different items as of December 31, Year 4, the end of Debue, Inc.'s current fiscal year. Indicate whether the item is a definite or contingent liability, or not a liability at all. For dated items, answer for the December 31, Year 4 balance sheet.

answer the following terms listed below using one of the terms of 1) definite , 2) contingent liability , 3) not a liability

I WILL GIVE THUMBS UP IF YOU ANSWER

Payroll taxes payable

Income tax payable

Current maturities of noncurrent debt

Bonds payable due in Year 9

Notes payable

Note due April Year 5; Debue entered into an irrevocable agreement to refinance the note with a note due in Year 7

Variable interest note payable due in Year 8

Frequent flyer liability

Flight liability (unearned revenue for an airline)

Dividends payable

Bonds issued with detachable stock warrants

Sales tax payable

Note due April Year 5 refinanced with another note due in Year 7 before the Year 4 financial statements were issued

Note due in Year 9, payable on demand by creditor

Compensated absence liability

Convertible bonds due in Year 9

Bonds to be retired next year from a sinking fund established many years ago

Coupon liability

Interest payable

Note due April Year 5 retired before the Year 4 financial statements were issued by issuing common stock

Note retired by paying cash in January, Year 5. A noncurrent note was immediately issued to replenish cash used to retire the first note.

Warranty liability (regular warranty - not separable from sale)

Warranty liability (separate contract)

Short-term notes refinanced continuously on a 7-month basis; there is no date yet set for retirement of the note

Gift card liability

Guarantee of subsidiary note payable