Of the following liabilities, which would a company include in the current liability section of its balance sheet?

Under which of the following circumstances does substantial doubt exist about an entity's ability to continue as a going concern?

Glidell Company issues coupons for its products, which are redeemable at grocery stores. Each coupon entities the customer to $.65 off their purchase of Glidell's products. Additionally, Glidell reimburses retailers an additional $.05 per coupon. On July 1 of the current year, Glidell mailed out $1 million coupons to consumers, and expects 300,000 to be redeemed by their expiration date of December 31. Retailers can take up to 90 days to mail their coupons to Glidell. As of December 31, Glidell has made payments of $95,000 to retailers, and has 115,000 coupons waiting to be processed for payment. What amount should Glidell report as outstanding liability for coupons in its December 31 balance sheet?

Which of the following is true regarding purchases made from a seller that offers a discount for early payment?

Which of the following conditions or events would least likely raise substantial doubt about an entity's ability to continue as a going concern?

The Wyman Company borrowed $250,000 on October 31, Year 1, and signed a two-year note bearing interest of 10% on that date. Interest is compounded annually and is payable in full at the note’s maturity date of March 31, Year 3. What amount of liability for interest should Wyman report at December 31, Year 2?