Howell Company has the following selected accounts after posting adjusting entries: 
Instructions
(a) Prepare the current liability section of Howell Company's balance sheet, assuming $25,000 of the mortgage is payable next year. (List liabilities in magnitude order, with largest first.)
(b) Comment on Howell 's liquidity, assuming total current assets are $450,000.
Definitions:
Team Development
The process of improving collective performance by enhancing the skills, relationships, and efficiency of team members.
Norming
A stage in team development where members resolve conflicts, establish norms and agreements, and start to work more cohesively towards common goals.
Norming
A stage in team development where the team establishes agreements and norms in behavior and operation leading to stronger unity and working efficiency.
Role Agreement
An understanding or official documentation that outlines the duties, responsibilities, and expectations of a specific position or job role.
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