Homework answers / question archive / Directions: Complete the table below: Do the items below lead to the recognition of a liability (Y/N)? If they do, what is the account name, measured amount, and classification as current or noncurrent? Account Name (choose the correct answer) $ Measurement Amount (don't put $ sign or MM for example 1MM should be listed as 1) Current or Noncurrent Recognition of Liability? Item (Must type yes or no) 1

Directions: Complete the table below: Do the items below lead to the recognition of a liability (Y/N)? If they do, what is the account name, measured amount, and classification as current or noncurrent? Account Name (choose the correct answer) $ Measurement Amount (don't put $ sign or MM for example 1MM should be listed as 1) Current or Noncurrent Recognition of Liability? Item (Must type yes or no) 1

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Directions: Complete the table below: Do the items below lead to the recognition of a liability (Y/N)? If they do, what is the account name, measured amount, and classification as current or noncurrent? Account Name (choose the correct answer) $ Measurement Amount (don't put $ sign or MM for example 1MM should be listed as 1) Current or Noncurrent Recognition of Liability? Item (Must type yes or no) 1. Nike agrees to purchase a plot of land on which it will build a factory for $5MM. 2. Nike places a $SOMM order from one of its suppliers. The supplier is completing the manufacturing of the goods and will ship 5 them within six months 3. Nike signs a 5-year employment offer with an incoming CFO for $15MM salary and stock options. The CFO will start in two months 4. Nike receives a check of $12MM from a store for merchandise that it will ship to the 8 store in 90 days. 5. The supplier from above (with the $SOMM order) ships the goods to Nike and sends an Invoice Nike obtains ownership of the goods when they arrive. The goods should arrive in less than 14 days 7 10