While auditing the 2013 financial statements of Warder Corporation, you found evidence that the following were not

Question:

While auditing the 2013 of Warder Corporation, you found evidence that the following were not included in its current liabilities on the December 31, 2013, Convertible bonds maturing in 60 days that were never converted.
2. Note payable due 2 months after the date, with refinancing agreement entered into 4 weeks after the date.
3. Notes payable of Warder's completely owned subsidiary due its shareholders and payable upon demand.
4. Deposits from customers on equipment ordered by them from Warder.
Required:
Discuss the assumptions needed for Warder to correctly exclude the previously mentioned items from the December 31, 2013, current liabilities. The was issued on March 3, 2014.
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