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. In the second column, indicate the classification of the item for balance sheet purposes by clicking on the related cell in that column and selecting from the options provided in the popup list. In the third column, 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.

for column 3 the options are 1) not a liability, 2) current liability, 3) noncurrent liability, 4) current or noncurrent liability 5) part liability, part owners equity

for column 4 the options are 1)definite liability, 2)contingent liability, 3) not a liability

List one of each from column 3 and 4 for each term listed below

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