Current Liabilities and Inclusion of Estimates
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Name a company and what types of current liabilities might exist at the company?
Describe at least three, and state if they are estimated liabilities or determinable liabilities.
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Solution Summary
The solution uses Google for an example and lists the actual current liabilities posted in a recent 8-K filed with the SEC. There is an explanation of each category of liabilities and those which might include estimated amounts.
Solution Preview
From Yahoo Finance, I viewed the latest Form 8-K filed October 18 for Google. The current liabilities section of the condensed balance sheet shows five categories or line items:
Accounts payable
Accrued compensation and benefits
Accrued expenses and other current liabilities
Accrued revenue share
Deferred revenue
Accounts payable would normally be all determinable liabilities, but there certainly could ...
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