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That part of interest which is due withing next 12 month or due in current financial year then that would be current liability and the remaining part will be non-current liability.
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Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
Is liability for withholding taxes a current or non current liability?
current liability
Is a long term loan repayable in 6 years a non current asset or non current liability?
It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.
Is interest payable a current asset?
No it is a current liability
Is retained earnings a current liability?
Retained Earnings is a Non-Current Liability
Is accrued vacation pay belong to current liability?
No, it belongs to non-current liability
Is pension fund a current liability or non current liability?
A pension fund is considered a non-current asset but it is a long term investment fund .
Is accrued interest payable a current liability?
For general purposes, accrued interest payable is generally a current liability, however that depends on one major factor. When will the liability be paid? Any liability that a company can reasonably expect to pay off in 12 months (or less) or one accounting period is a "current liability" any liability that will be paid off at a longer time is a "long term liability" So if the accrued interest will be paid in 12 months or less, then it is a current liability.
Bonds payable are reported on the balance sheet at?
bonds payable are shown in balance sheet under current as well as non-current liability portion as that much amount which is payable within current year is current liability and remaining is non-current liability.
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
Is interest payable a long term liability or current liability?
A payable (such as interest payable) can be either a long term or current liability, to find out which consider the definitions of each. Current liability is any liability that will be fully paid within one year (or less) or one accounting period. Long term liability is any liability that will take more than one year or accounting period to be fully paid. For the most part, interest payable is current, as it usually is required to be paid quickly, however, that is not always the case.
What is the classification of mortgage in accounting?
non current liability
