Explain the difference between a current liability for an

Reference no: EM13394783

1) What is the difference between a current liability for an uncertain amount and a contingent liability? Give an example of each not found in the readings, pointing out how your examples are different. How are the accounting treatments different for liabilities of an uncertain amount and contingent liabilities?

2) If your broker wanted you to purchase a 6% bond when investments with similar risk were paying 8% would you purchase the bond? How much would you be willing to pay for the bond? Why?

3) What type of account is treasury stock? What is its normal balance? Where is it reported in the financial statements? What are some reasons companies repurchase their own shares? What is the most common reason? In your opinion is it effective? What is the effect on total equity when a company repurchases its own shares?

Reference no: EM13394783

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