' = Times New Roman 14 General ab Wrap Text V B I U V a. Av V Merge & Center $ % Ormat Painter pard Font Alignment ly Number 1 fr ACCT 2003 Intermediate Accounting || 1. Indicate (by letter) the way each of the items listed below should be reported in a balance sheet at December 31, 2021. (14 points) Reporting Method N Not reported C. Current liability L. Long-term liability D. Disclosure note only Item 1 Customer advances. 2 Noncommitted line of credit 3 Commercial paper. 4 Note due June 9, 2022 5 Accounts payable. 6 Long-term bonds that will be callable by the creditor in the upcoming year unless an existing violation is not corrected (there is a reasonable possibility the violation will be corrected within the grace period) Long-term bonds callable by the creditor in the upcoming year that are not expected to be called 7 8 Estimated cost of quality assurance warranty 9 Interest accrued on note, Dec 31, 2021 10 Short-term bank loan to be paid with proceeds of sale of common stock 11 7 A material gain contingent on a future event that appears extremely likely to occur in three months Question 1 Cart B C 3 Commercial paper. 4 Note due June 9, 2022 5 Accounts payable. 6 Long-term bonds that will be callable by the creditor in the upcoming year unless an existing violation is not corrected (there is a reasonable possibility the violation will be corrected within the grace period). 7 Long-term bonds callable by the creditor in the upcoming year that are not expected to be called 8 Estimated cost of quality assurance warranty. 9 Interest accrued on note, Dec 31, 2021. 10 Short-term bank loan to be paid with proceeds of sale of common stock. 11 A material gain contingent on a future event that appears extremely likely to occur in three months. 12 Unasserted assessment of penalty that probably will be asserted in which case there would probably be a loss in six months. 13 Unasserted assessment of penalty with a reasonable possibility of being asserted in which case there would probably be a loss in 13 months 14 A determinable loss from a past event that is contingent on a future event that appears extremely likely to occur in three months. 1. Indicate (by letter) the way each of the items listed below should be reported in a balance sheet at December 31, 2021. (14 points) Reporting Method N. Not reported C. Current liability L. Long-term liability D. Disclosure note only Item 1 Customer advances. 2 Noncommitted line of credit. 3 Commercial paper. 4 Note due June 9, 2022 5 Accounts payable. 6 Long-term bonds that will be callable by the creditor in the upcoming year unless an existing violation is not corrected (there is a reasonable possibility the violation will be corrected within the grace period). 7 Long-term bonds callable by the creditor in the upcoming year that are not expected to be called 8 Estimated cost of quality assurance warranty. 9 Interest accrued on note, Dec. 31, 2021. 10 Short-term hool