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Below is the assignment I need done please simply answer question with all the terms question under them please and thank you.
Course ID Number: ACCT 101-30
I. How are current liabilities of known amounts accounted for?
i.They occur because of a past transaction or event
ii.They create a present obligation for future payment on cash or services
iii.They are unavoidable obligations
c. Long-term liabilities
ii.Sales tax payable
iv.Short-term notes payable
v.Current portion of long-term notes payable
II. How do companies account for and record payroll?
a. Salary, wages, commission, bonus, benefits