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    Current and NonCurrent Liabilities for D'Annunzio Corporation (Rodriguez Corporation)

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    D'Annunzio Corporation (Rodriguez Corporation) includes the following items in its liabilities at December 31, 2007.

    1. Notes payable $25,000,000, due June 30, 2008.
    2. Deposits from customers on equipment ordered by them from Annunzio, $6,250,000.
    3. Salaries payable $3,750,000, due January 14, 2008.

    Instructions:

    Indicate in what circumstance if any, each of the three liabilities above would be excluded from current liabilities.

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    https://brainmass.com/business/accounting-for-liabilities/current-noncurrent-liabilities-annunzio-corporation-268893

    Solution Preview

    D'Annunzio Corporation includes the following items in its liabilities at December 31, 2007.

    1. Notes payable $25,000,000, due June 30, 2008.
    2. Deposits from customers on equipment ordered by them from Annunzio, $6,250,000.
    3. ...

    Solution Summary

    This solution indicates in what circumstances, if any, each of the three liabilities above would be excluded from current liabilities.

    $2.19

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