Collect chicken eggs for each correct answer about short term liablities
x0
x0
x0
x0
Start
question 1/4
What is an accounts payable?
Amounts owed to suppliers for products or services purchased on credit.
Amounts due from customers for credit sales
Collect
Amounts received in advance from customers for future product or services.
question 2/4
What is a liability?
Measurable obligations arising from agreements, contracts or laws
Collect
Written promise to pay a specified amount on a stated future date
Probable future payment of assets or services that a company is presently obligated to make as a result of a past transaction.
question 3/4
Accounting for liabilities involves answer which three questions?
What to pay?, How much to pay? and Where to pay?
Whom to pay?, When to pay? and How much to pay?
Collect
Where to pay?, Whom to pay? and How much to pay?
question 4/4
Which of the following is incorrect about current liabilities?
Includes wages payable, taxes payable and accounts payable
Collect
Include lease liabilities and bonds payable
Liabilities due within one year.
Well done! Happy chickens
Cluck, Cluck...
continue
Cows and their milk
Milk the cows for each correct answer by answering questions on long-term liabilities
x4
x0
Start
x0
x0
QUESTION 1/4
An installment note is
A liability requiring a series of payments to the lender
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
Milking
Issuers written promise to pay the par value of the instrument with interest
QUESTION 2/4
Which one is NOT an advantage of bond financing?
Milking
Interest on bonds is tax deductible
Bonds give the bondholder company ownership.
Bonds can increase return on equity.
question 3/4
An mortgage is
A liability requiring a series of payments to the lender
Milking
Issuers written promise to pay the par value of the instrument with interest
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
question 4/4
A Bond is
Issuers written promise to pay the par value of the instrument with interest
Milking
A liability requiring a series of payments to the lender
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
Well done! Happy cows
Mmoooo...
continue
Pigs and their food
Feed the pigs for each correct answer by determining the correct journal entry for each liability scenario.
x4
x4
x0
x0
Start
QUESTION 1/4
IF the farm sells a bushel of corn on August 31 for $600 cash that is subject to 4.5% sales tax. What would the journal entry be?
Feed
QUESTION 2/4
On November 25th, the farm borrows $8,000 by signing a 90 day, 5% notes payable. Which journal entry shows the interest accrual on December 31st?
Feed
QUESTION 3/4
The Farm has one employee who is paid $2,000 per month. Assuming FICA - SS is 6.2% and FICA Medicare is 1.45%. In addition the employees income tax is $445. Assuming all liabilities have been recorded previosuly, what is the journal entry to record the cash payment for this employee?
Feed
QUESTION 4/4
The farmer has sold two of the piglets to the auction house and received $2,000 for each pig. The pigs will need 1 year to mature before the auction house can take them. Record the journal entry that shows the cash received.
Feed
Well done! happy pigs
OinK, oink...
continue
Sheep and their wool
Shearing sheep wool for each correct answer about contingent liabilties.
x4
x4
Start
x4
x0
question 1/4
The farm is sued by a neighboring property for water contamination from pig waste. Legal counsel says the farm will likely lose and estimates damages at $50,000
This is considered a probable liability and should be entered into the books with a journal entry for $50,000 as an estimated liablitiy
This is considered a remote liablity and should be disclosed in the notes.
Shearing
This is considered a possible liability and should be disclosed in the notes.
question 2/4
A cow injures a visitor. The farm expects to be liable, but the extent of medical costs and legal fees is still unknown
This is a remote liablity and nothing needs to be done at this time.
Shearing
This is possible liability and should be revealed in the financial notes..
This is a probable liability but there is not an estimated amount so it should be disclosed in the financial notes.
question 3/4
A chicken feed supplier is under investigation for contamination. The farm may need to destroy some inventory, but it's unclear if liability will fall on the farm.
This is a possible liability and should be disclosed in the financial notes.
Shearing
This is a remote liabliity and should be recorded with a journal entry.
This is a probable liability but nothing needs to be done.
question 4/4
A sheep escapes and causes minor damage to a neighbor’s fence. The neighbor jokes about it but has no intention of suing
This is a possible liability so should be disclosed in the financial notes.
This is a remote liablity - no recording or disclosure is needed.
Shearing
This is a probable liablity and requires a journal entry.
Well done! Happy sheep
Beeeehehe...
continue
All right, daily chores done!
x4
x4
x4
x4
FInalize
CONGRATULATIONS!
start over?
It got dark and you haven't finished your daily chores!
Liabilities FARM ESCAPE ROOM
Cristal Breitbeil
Created on October 22, 2025
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Transcript
Liabilities FARM ESCAPE ROOM
Help on the farm with daily chore
start
Chickens and their eggs
Collect chicken eggs for each correct answer about short term liablities
x0
x0
x0
x0
Start
question 1/4
What is an accounts payable?
Amounts owed to suppliers for products or services purchased on credit.
Amounts due from customers for credit sales
Collect
Amounts received in advance from customers for future product or services.
question 2/4
What is a liability?
Measurable obligations arising from agreements, contracts or laws
Collect
Written promise to pay a specified amount on a stated future date
Probable future payment of assets or services that a company is presently obligated to make as a result of a past transaction.
question 3/4
Accounting for liabilities involves answer which three questions?
What to pay?, How much to pay? and Where to pay?
Whom to pay?, When to pay? and How much to pay?
Collect
Where to pay?, Whom to pay? and How much to pay?
question 4/4
Which of the following is incorrect about current liabilities?
Includes wages payable, taxes payable and accounts payable
Collect
Include lease liabilities and bonds payable
Liabilities due within one year.
Well done! Happy chickens
Cluck, Cluck...
continue
Cows and their milk
Milk the cows for each correct answer by answering questions on long-term liabilities
x4
x0
Start
x0
x0
QUESTION 1/4
An installment note is
A liability requiring a series of payments to the lender
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
Milking
Issuers written promise to pay the par value of the instrument with interest
QUESTION 2/4
Which one is NOT an advantage of bond financing?
Milking
Interest on bonds is tax deductible
Bonds give the bondholder company ownership.
Bonds can increase return on equity.
question 3/4
An mortgage is
A liability requiring a series of payments to the lender
Milking
Issuers written promise to pay the par value of the instrument with interest
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
question 4/4
A Bond is
Issuers written promise to pay the par value of the instrument with interest
Milking
A liability requiring a series of payments to the lender
A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds
Well done! Happy cows
Mmoooo...
continue
Pigs and their food
Feed the pigs for each correct answer by determining the correct journal entry for each liability scenario.
x4
x4
x0
x0
Start
QUESTION 1/4
IF the farm sells a bushel of corn on August 31 for $600 cash that is subject to 4.5% sales tax. What would the journal entry be?
Feed
QUESTION 2/4
On November 25th, the farm borrows $8,000 by signing a 90 day, 5% notes payable. Which journal entry shows the interest accrual on December 31st?
Feed
QUESTION 3/4
The Farm has one employee who is paid $2,000 per month. Assuming FICA - SS is 6.2% and FICA Medicare is 1.45%. In addition the employees income tax is $445. Assuming all liabilities have been recorded previosuly, what is the journal entry to record the cash payment for this employee?
Feed
QUESTION 4/4
The farmer has sold two of the piglets to the auction house and received $2,000 for each pig. The pigs will need 1 year to mature before the auction house can take them. Record the journal entry that shows the cash received.
Feed
Well done! happy pigs
OinK, oink...
continue
Sheep and their wool
Shearing sheep wool for each correct answer about contingent liabilties.
x4
x4
Start
x4
x0
question 1/4
The farm is sued by a neighboring property for water contamination from pig waste. Legal counsel says the farm will likely lose and estimates damages at $50,000
This is considered a probable liability and should be entered into the books with a journal entry for $50,000 as an estimated liablitiy
This is considered a remote liablity and should be disclosed in the notes.
Shearing
This is considered a possible liability and should be disclosed in the notes.
question 2/4
A cow injures a visitor. The farm expects to be liable, but the extent of medical costs and legal fees is still unknown
This is a remote liablity and nothing needs to be done at this time.
Shearing
This is possible liability and should be revealed in the financial notes..
This is a probable liability but there is not an estimated amount so it should be disclosed in the financial notes.
question 3/4
A chicken feed supplier is under investigation for contamination. The farm may need to destroy some inventory, but it's unclear if liability will fall on the farm.
This is a possible liability and should be disclosed in the financial notes.
Shearing
This is a remote liabliity and should be recorded with a journal entry.
This is a probable liability but nothing needs to be done.
question 4/4
A sheep escapes and causes minor damage to a neighbor’s fence. The neighbor jokes about it but has no intention of suing
This is a possible liability so should be disclosed in the financial notes.
This is a remote liablity - no recording or disclosure is needed.
Shearing
This is a probable liablity and requires a journal entry.
Well done! Happy sheep
Beeeehehe...
continue
All right, daily chores done!
x4
x4
x4
x4
FInalize
CONGRATULATIONS!
start over?
It got dark and you haven't finished your daily chores!
...
...
back